Investor Optimism Eases Despite US Stocks Rising For Third Session

The CNN Money Fear and Greed index showed some easing in overall investor sentiment among US investors as investors awaited the outcome of the midterm elections.

On the earnings front, SolarEdge Technologies, Inc. SEDG shares jumped over 19% on Tuesday after the company reported better-than-expected Q3 sales results and issued Q4 sales guidance with a midpoint above analyst estimates. Lyft LYFT shares tumbled around 23% after the company reported weaker-than-expected Q3 sales results and issued downbeat Q4 sales guidance.

D.R. Horton, Inc. DHI, Performance Food Group Company PFGC and Wynn Resorts, Limited WYNN are set to report quarterly earnings today.

All the three major indices recorded gains for a third straight day. The Dow jumped 1.02% to close at 33,160.83 on Tuesday. The S&P 500 surged 0.56% to 3,828.11, while the Nasdaq Composite jumped 0.49% to settle at 10,616.20 in the previous session.

At a current reading of 58.0, the index remained in the "Greed" zone, unchanged from 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.