The CNN Money Fear and Greed index showed some easing in the fear level among US investors.
US stocks closed higher on Wednesday following the release of Federal Reserve meeting minutes.
Investors also monitored data which showed that the number of job openings in the US fell by 54,000 to 10.5 million in November. The ISM manufacturing PMI declined for a second straight month to 48.4 in December from 49 in the previous month, and compared to market estimates of 48.5.
The Dow closed higher by around 133 points to 33,269.77 on Wednesday. The S&P 500 added 0.75% to 3,852.97, while the Nasdaq Composite rose 0.69% to settle at 10,458.76 in the previous session.
Investors are awaiting earnings results from Walgreens Boots Alliance, Inc. (NASDAQ:WBA), Constellation Brands, Inc. (NYSE:STZ) and Conagra Brands, Inc. (NYSE:CAG) today.
At a current reading of 37.0, the index remained in the “Fear” zone, compared to a previous reading of 40.0.
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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