The CNN Money Fear and Greed index showed almost no change in the overall market sentiment, while the index remained in the “Fear” zone on Friday.
U.S. stocks settled lower on Friday, with the Dow Jones index falling more than 500 points during the session following the latest inflation data.
U.S. producer prices rose 0.5% month-over-month in January, compared to a revised 0.4% gain in December and above market estimates of 0.3%.
The Nasdaq fell more than 3% in February, recording its weakest monthly performance since last March. The S&P 500, meanwhile, fell almost 1% last month, while the Dow rose around 0.2%.
Nvidia Corp. (NASDAQ:NVDA) fell 4.2% on Friday, extending Thursday’s 5.4% decline. Netflix Inc. (NASDAQ:NFLX) bucked the trend, rallying almost 14% after walking away from a bidding war for Warner Bros. Discovery Inc. (NASDAQ:WBD) in a move investors viewed as financially disciplined.
In earnings, Dell Technologies Inc. (NYSE:DELL) shares jumped around 22% on Friday after the company reported better-than-expected fourth-quarter financial results and issued FY27 guidance above estimates. Applied Optoelectronics Inc. (NASDAQ:AAOI) shares jumped 57% after the company reported better-than-expected fourth-quarter financial results and issued first-quarter sales guidance above estimates.
Most sectors on the S&P 500 closed on a positive note, with consumer staples, health care and energy stocks recording the biggest gains on Friday. However, information technology and financial stocks closed the session sharply lower.
The Dow Jones closed lower by around 521 points to 48,977.92 on Friday. The S&P 500 fell 0.43% to 6,878.88, while the Nasdaq Composite dipped 0.92% at 22,668.21 during Friday’s session.
Investors are awaiting earnings results from ADT Inc. (NYSE:ADT), Sealed Air Corp. (NYSE:SEE) and Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH) today.
What Is CNN Business Fear & Greed Index?
At a current reading of 42.9, the index remained in the “Fear” zone on Friday, versus a prior reading of 42.2.
The Fear & Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
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