The CNN Money Fear and Greed index showed a decline in overall market sentiment, while it remained in the “Fear” zone on Wednesday.
U.S. stocks settled mixed on Wednesday, with the Nasdaq Composite falling more than 100 points during the session amid a decline in Micron Technology Inc. (NASDAQ:MU) stock.
However, the company’s stock rose sharply in after-hours trading following better-than-expected financial results for the third quarter of fiscal 2026 and strong guidance for the current quarter.
Crude oil prices fell sharply on a holding U.S.-Iran ceasefire. The relief came as a U.S.-Iran ceasefire held and negotiators advanced a 60-day roadmap toward a final deal, with the Strait of Hormuz open and the Treasury authorizing temporary Iranian oil sales.
On the economic data front, the U.S. current account deficit rose to $226.8 billion in the first quarter from a revised $221.1 billion gap in the final quarter of 2025. U.S. building permits fell 0.9% month-over-month to an annual rate of 1.410 million in June.
On the earnings front, Paychex Inc. (NASDAQ:PAYX) reported better-than-expected earnings for the fourth quarter.
Most sectors on the S&P 500 closed on a positive note, with utilities, industrials and consumer discretionary stocks recording the biggest gains on Wednesday. However, energy and information technology stocks closed the session lower.
The Dow Jones closed higher by around 182 points to 51,848.90 on Wednesday. The S&P 500 fell 0.10% to 7,358.22, while the Nasdaq Composite dipped 0.43% at 25,476.63 during Wednesday’s session.
Investors are awaiting earnings results from TD Synnex Corp. (NYSE:SNX), Darden Restaurants Inc. (NYSE:DRI) and Acuity Inc. (NYSE:AYI) today.
What Is CNN Business Fear & Greed Index?
At a current reading of 25.9, the index remained in the “Fear” zone on Wednesday, versus a prior reading of 27.5.
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.
Photo courtesy: Shutterstock
Recent Comments