The CNN Money Fear and Greed index showed some easing in the fear level among U.S. investors.
The Dow Jones gained on Monday, building on previous week’s gains. The SPDR S&P Regional Banking ETF gained around 0.9%, after jumping over 3% earlier in the session.
First Citizens BancShares, Inc. (NASDAQ:FCNCA) shares jumped around 54% on Monday after First-Citizens Bank & Trust Company entered an agreement to purchase all deposits and loans of Silicon Valley Bank.
The Dow closed higher by around 195 points to 32,432.08 on Monday. The S&P 500 rose 0.16% to 3,977.53, while the Nasdaq Composite lost 0.47% to settle at 11,768.84 during the session.
Investors are awaiting earnings results from Walgreens Boots Alliance, Inc. (NASDAQ:WBA), McCormick & Company, Incorporated (NYSE:MKC) and Micron Technology, Inc. (NASDAQ:MU) today.
At a current reading of 36.0, the index remained in the “Fear” zone., versus a previous reading of 33.0
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: Around $3M Bet On This Basic Materials Stock? Check Out These 4 Penny Stocks Insiders Are Buying
