The CNN Money Fear and Greed index showed some improvement in overall sentiment among U.S. investors on Wednesday.
U.S. stocks closed lower on Wednesday as investors digested minutes from the recent Federal Reserve meeting. Both the Dow Jones and S&P 500 ended their three-session win streaks.
On the economic data front, U.S. factory orders rose 0.3% month-over-month for May, versus market expectations for a 0.8% growth.
The Dow Jones closed lower by around 130 points to 34,288.64 on Wednesday. The S&P 500 fell 0.20% at 4,446.82, while the Nasdaq Composite lost 0.18% at 13,791.65 during the session.
Investors are awaiting earnings results from Levi Strauss & Co. (NYSE:LEVI), Trinity Biotech plc (NASDAQ:TRIB) and Kura Sushi USA, Inc. (NASDAQ:KRUS) today.
At a current reading of 80.0, the index remained in the “Extreme Greed” zone, versus a previous reading of 79.0
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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