The CNN Money Fear and Greed index showed some improvement in the market sentiment among US investors.
The Nasdaq index recorded gains on Monday driven by a rally in Tesla, Inc. (NASDAQ:TSLA) shares.
The Dow closed lower by 113 points to 33,517.65 on Monday. The S&P 500 fell 0.08% to 3,892.09, while the Nasdaq Composite jumped 0.63% to settle at 10,635.65 in the previous session.
Investors are awaiting earnings results from TD SYNNEX Corporation (NYSE:SNX), Albertsons Companies, Inc. (NYSE:ACI) and Bed Bath & Beyond Inc. (NASDAQ:BBBY) today.
At a current reading of 49.0, the index remained in the “Neutral” zone, compared to a previous reading of 46.0.
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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