Investor Optimism Declines Following Tesla Earnings Report

The CNN Money Fear and Greed index showed some decline in the overall market sentiment on Thursday.

U.S stocks closed lower on Thursday following mixed bag of earnings results.

Tesla, Inc. TSLA shares dropped around 9.8% on Thursday after the company reported a decrease in operating margins.

Seagate Technology Holdings plc STX shares dipped more than 9% after the company reported worse-than-expected Q3 results.

The Dow Jones closed lower by around 110 points to 33,786.62 on Thursday. The S&P 500 slipped 0.60% at 4,129.79, while the Nasdaq Composite fell 0.80% to settle at 12,059.56 during the session.

Investors are awaiting earnings results from The Procter & Gamble Company PG, HCA Healthcare, Inc. HCA and Schlumberger Limited SLB today.

At a current reading of 64.0, the index remained in the "Greed" zone, versus a previous reading of 68.0

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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