The CNN Money Fear & Greed Index showed an improvement in overall market sentiment among US investors.
US stocks closed higher ahead of a busy week of earnings. Markets are expecting that the US Federal Reserve will hike rates by 25 basis points in its upcoming meeting.
shares of Tesla, Inc. TSLA And Apple Inc. AAPL Stocks moved higher on Monday amid hopes that China’s reopening would boost their businesses.
On Monday, the Dow closed at 33,629.56 with a gain of about 254 points. The S&P 500 rose 1.19% to 4,019.81, while the Nasdaq Composite jumped 2.01% in the session to close at 11,364.41.
Investors await earnings results Verizon Communications Inc. VZ, general electric company ge, Johnson & Johnson JNJ And Microsoft Corporation msft today.
At the current reading of 65.0, the index remained in the “greed” zone as compared to the previous reading of 59.0.
What is the CNN Business Fear and Greed Index?
The Fear and Greed Index is a measure of the current market sentiment. This is on the grounds that high fear tends to put pressure on stock prices, while high greed has the opposite effect. The index is calculated on the basis of seven equally weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 indicates maximum greed.