The CNN Money Fear and Greed index showed a slight easing of overall market sentiment on Thursday after the Dow Jones gave up some of the sharp gains recorded on Wednesday.
The Dow gained more than 700 points on Wednesday after Federal Reserve Chairman Jerome Powell suggested the central bank could begin tapering its interest rate hikes as early as next month.
Investors were awaiting economic data on non-farm payrolls and the unemployment rate to gain some more insight into the labor market.
shares of costco wholesale cost It dropped about 6.6% on Thursday after the company reported November sales results.
On Thursday, the Dow lost nearly 195 points to close at 34,395.01. The S&P 500 fell 0.09% to 4,076.57, while the Nasdaq Composite climbed 0.13% to 11,482.45 in the previous session.
Genesco Inc. gco, Cracker Barrel Old Country Store, Inc. CBRL And Kirkland, Inc. Kirk Ready to report quarterly earnings today.
At the current reading of 69.0, the index remained in the “greed” zone as compared to the previous reading of 70.0.
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.