The CNN Money Fear and Greed index showed further improvement in overall sentiment among U.S. investors on Thursday.
U.S stocks closed higher on Thursday following the release of inflation data. Producer prices for final demand declined 0.5% month-over-month in March, recording the biggest drop since April 2020.
Delta Air Lines, Inc. (NYSE:DAL) shares edged lower on Thursday after the company reported weaker-than-expected quarterly results.
The Dow closed higher by around 383 points to 34,029.69 on Thursday. The S&P 500 rose 1.33% at 4,146.22, while the Nasdaq Composite added 1.99% to settle at 12,166.27 during the session.
U.S. big banks, including, JPMorgan Chase & Co. (NYSE:JPM), Wells Fargo & Company (NYSE:WFC) and Citigroup Inc. (NYSE:C), are all set to report quarterly earnings results today.
At a current reading of 67.0, the index remained in the “Greed” zone, versus a previous reading of 62.0
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 greediness.
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