Fear & Greed Index Moves To 'Greed' Zone Following Fed Decision

The CNN Money Fear and Greed index moved to the "Greed" zone following the interest-rate decision from the Federal Reserve.

The Fed increased rates by 25 basis points, as widely expected. The SPDR S&P Regional Banking ETF dropped more than 1% on Wednesday.

After the closing bell, QUALCOMM Incorporated QCOM reported better-than-expected sales results for its second quarter, but issued weak Q3 guidance.

The Dow Jones closed lower by around 270 points to 33,414.24 on Wednesday. The S&P 500 fell 0.70% at 4,090.75 , while the Nasdaq Composite fell 0.46% to settle at 12,025.33 during the session.
Investors are awaiting earnings results from Kellogg Company K, Apple Inc. AAPL and PG&E Corporation PCG today.

At a current reading of 58.0, the index moved to the "Greed" zone, versus a previous reading of 53.0

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.

Read Next: Over $2M Bet On Vivani Medical? Check Out These 3 Penny Stocks Insiders Are Aggressively Buying