Investor Optimism Eases Ahead Of Retail Earnings

The CNN Money Fear and Greed index showed some easing in the overall market sentiment as US stocks dropped to start the week.

The S&P 500 jumped around 5.9% last week, recording its best weekly surge since June.

Shares of Amazon.com, Inc. AMZN dropped around 2.3% on Monday following reports suggesting the company will lay off 10,000 workers this week.

The Dow dropped 0.63% to close at 33,536.70 on Monday. The S&P 500 fell 0.89% to 3,957.25, while the Nasdaq Composite dipped 1.12% to settle at 11,196.22 in the previous session.

The Home Depot, Inc. HD, Walmart Inc. WMT and Advance Auto Parts, Inc. AAP are set to report quarterly earnings today.

At a current reading of 64.0, the index remained in the "Greed" zone, compared to a previous reading of 66.0.

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.