The CNN Money Fear and Greed index showed some improvement in the overall market sentiment on Friday.
U.S stocks closed slightly higher on Friday, but recorded losses for the week. The Dow Jones declined around 0.2% last week, snapping a four-week winning streak.
The Procter & Gamble Company (NYSE:PG) shares gained 3.5% on Friday after the company reported better-than-expected Q3 results and raised its FY23 all-in sales guidance.
HCA Healthcare, Inc. (NYSE:HCA) shares gained around 4% on Friday after the company reported strong Q1 results and revised FY23 guidance.
The Dow Jones closed higher by around 22 points to 33,808.96 on Friday. The S&P 500 rose 0.09% at 4,133.52, while the Nasdaq Composite rose 0.11% to settle at 12,072.46 during the session.
Investors are awaiting earnings results from The Coca-Cola Company (NYSE:KO), Whirlpool Corporation (NYSE:WHR) and First Republic Bank (NYSE:FRC) today.
At a current reading of 65.0, the index remained in the “Greed” zone, versus a previous reading of 64.0
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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