The CNN Money Fear and Greed index showed further improvement in the overall sentiment among US investors.
The Dow Jones index snapped the four-session winning streak as investors weighed the recent earnings results.
The Goldman Sachs Group, Inc. (NYSE:GS) shares dropped 6.4% on Tuesday after the bank reported downbeat earnings for the fourth quarter.
The Dow closed lower by around 392 points to 33,910.85 on Tuesday. The S&P 500 fell 0.20% to 3,990.97, while the Nasdaq Composite rose 0.14% to settle at 11,095.11 in the session.
Investors are awaiting earnings results from The Charles Schwab Corporation (NYSE:SCHW), The PNC Financial Services Group, Inc. (NYSE:PNC), and Alcoa Corporation (NYSE:AA) today.
At a current reading of 65.0, the index remained in the “Greed” zone, compared to a previous reading of 63.0.
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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