The CNN Money Fear and Greed index showed a slight increase in the fear level among US investors.
US stocks closed slightly higher on Tuesday, following a surprise move by the Bank of Japan to widen its yield cap on its long-term bonds.
NIKE, Inc. (NYSE:NKE) reported stronger-than-expected results for its latest quarter after the closing bell on Tuesday.
The Dow closed higher by around 92 points to 32,849.74 on Tuesday. The S&P 500 rose 0.10% to 3,821.62, while the Nasdaq Composite rose 0.01% to settle at 10,547.11 in the previous session.
Carnival Corporation (NYSE:CCL), Cintas Corporation (NASDAQ: CTAS), and Micron Technology, Inc. (NASDAQ:MU) are set to report quarterly earnings today.
At a current reading of 38.0, the index remained in the “Fear” zone, compared to a previous reading of 39.0.
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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