The CNN Money Fear and Greed index showed some easing in the overall market sentiment among US investors after the Wall Street closed slight lower on Thursday.
US stocks recovered from lows recorded earlier during the session as shares of Cisco Systems, Inc. (NASDAQ:CSCO) jumped around 5% on Thursday.
The Dow dropped 0.02% to close at 33,546.32 on Thursday. The S&P 500 fell 0.31% to 3,946.56, while the Nasdaq Composite fell 0.35% to settle at 11,144.96 in the previous session.
Foot Locker, Inc. (NYSE:FL), The Buckle, Inc (NYSE:BKE) and Spectrum Brands Holdings Inc (NYSE:SPB) are set to report quarterly earnings today.
At a current reading of 63.0, the index remained in the “Greed” zone, compared to a previous reading of 66.0.
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.
