The CNN Money Fear and Greed index showed some decline in overall sentiment among U.S. investors on Monday.
U.S. stocks closed slightly higher on Monday in a shortened trading session, after the Nasdaq Composite recorded the best first half since 1983.
U.S. stock markets closed early ahead of the Fourth of July holiday on Monday and also remained closed on Tuesday.
On the economic data front, the ISM manufacturing PMI in the U.S. declined to 46 in June from 46.9 in the prior month and down from market estimates of 47. Construction spending increased by 0.9% month-over-month to an annual rate of $1,925.6 billion in May.
Tesla, Inc. (NASDAQ:TSLA) shares jumped 6.9% on Monday after the company reported strong deliveries for the second quarter.
The Dow Jones closed higher by around 11 points to 34,418.47 on Monday. The S&P 500 rose 0.12% at 4,455.59, while the Nasdaq Composite added 0.21% at 13,816.77 during the session.
Investors are awaiting the release of minutes from the recent Fed’s meeting on Wednesday.
At a current reading of 79.0, the index remained in the “Extreme Greed” zone, versus a previous reading of 80.0
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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