Investor Sentiment Improves Further After Dow Jumps Over 400 Points

The CNN Money Fear and Greed index showed further improvement in overall sentiment among U.S. investors on Thursday.

The Dow Jones jumped more than 400 points on Thursday after the Federal Reserve held interest rates at its latest meeting.

On the economic data front, U.S. jobless claims came in unchanged at 262,000 in the week ending June 10, versus the previous week’s revised value. However, analysts were expecting a reading of 249,000. Retail sales in the U.S. increased 0.3% month-over-month in May versus a 0.4% growth in April, and topping market expectations for a 0.1% drop.

After the closing bell, Adobe Inc. ADBE reported better-than-expected results for its second quarter and issued strong earnings forecast.

The Dow Jones closed higher by around 429 points to 34,408.06 on Thursday. The S&P 500 rose 1.22% at 4,425.84, while the Nasdaq Composite added 1.15% to settle at 13,782.82 during the session.

Investors are awaiting earnings results from NaaS Technology Inc. NAAS today.

At a current reading of 83.0, the index remained in the "Extreme Greed" zone, versus a previous reading of 81.0

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: Top 5 Tech And Telecom Stocks You'll Regret Missing This Quarter