The CNN Money Fear and Greed index remained in the “Greed” zone on Friday after stocks closed mostly higher on Friday.
The Nasdaq index gained around 4.3% last week, notching gains for the fourth straight week. The tech-heavy index is also on course to record its best monthly performance since July.
Shares of American Express Company (NYSE:AXP) gained more than 10% on Friday despite a top-and bottom-line miss. Tesla, Inc. (NASDAQ:TSLA) shares climbed 11% on continued upward momentum after the company reported better-than-expected Q4 results.
The Dow closed higher by around 29 points to 33,978.08 on Thursday. The S&P 500 gained 0.25% to 4,070.56, while the Nasdaq Composite jumped 0.95% to settle at 11,621.71 in the session.
Investors are awaiting earnings results from Whirlpool Corporation (NYSE:WHR), Helmerich & Payne, Inc. (NYSE:HP) and NXP Semiconductors N.V. (NASDAQ:NXPI) today.
At a current reading of 69.0, the index remained in the “Greed” zone, compared to a previous reading of 69.0.
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.
Read Next: ” 5 Most Expensive Financial Stocks You Should Worry About
