The CNN Money Fear and Greed index showed further improvement in overall market sentiment, while the index moved to the “Fear” zone on Monday.
U.S. stocks settled higher on Monday, with the Dow Jones index surging over 1,100 points during the session amid a decline in crude oil prices.
Major averages recorded losses last week, with the Nasdaq losing 3.4% and the S&P 500 falling 2.7%. The 30-stock Dow, meanwhile, lost 0.9% during the week.
Nvidia Corp. (NASDAQ:NVDA) fell over 4% after its board said independent directors and outside counsel would investigate reports that CEO Jensen Huang was targeted by foreign intelligence.
On the earnings front, Fervo Energy Co. (NASDAQ:FRVO) soared 26% after the geothermal developer posted a third-quarter loss of 7 cents per share, narrower than the 9-cent loss expected, and lifted contracted power deals to 1,054 megawatts, worth about $11.9 billion. NRG Energy Inc. (NYSE:NRG) shares jumped over 10% on Monday after the electricity, natural gas and smart home solutions provider reported third-quarter 2026 results.
On the economic data front, the New York Fed’s Survey of Consumer Expectations showed one-year inflation expectations at 3.91% in October, from 3.90% in September. Three-year expectations rose to 3.29% from 3.25%, while the five-year gauge held at 3%.
All sectors on the S&P 500 closed on a positive note, with industrials, consumer discretionary and information technology stocks recording the biggest gains on Monday.
The Dow Jones closed higher by around 1,104 points to 52,389.75 on Monday. The S&P 500 gained 2.35% to 7,549.94, while the Nasdaq Composite climbed 2.74% at 25,253.14 during Monday’s session.
Investors are awaiting earnings results from TransDigm Group Inc (NYSE:TDG) and Sally Beauty Holdings Inc (NYSE:SBH) today.
At a current reading of 32, the index moved to the “Fear” zone on Monday, versus a prior reading of 24.
What is CNN Business Fear & Greed Index?
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 greed.
Photo via Shutterstock
Recent Comments