The CNN Money Fear and Greed index remained in the "Extreme Greed" zone on Thursday.
U.S. stocks closed higher for the fourth straight session following the release of another key inflation reading. Producer prices for final demand in the U.S. rose 0.1% month-over-month in June versus a revised 0.4% decline in May, and down from market expectations of a 0.2% increase.
Delta Air Lines, Inc. DAL reported better-than-expected results for its second quarter on Thursday, while PepsiCo Inc PEP reported upbeat second-quarter results and raised its FY23 outlook.
The Dow Jones closed higher by around 48 points to 34,395.14 on Thursday. The S&P 500 rose 0.85% at 4,510.04, while the Nasdaq Composite added 1.58% at 14,138.57 during the session.
Investors are awaiting earnings results from JPMorgan Chase & Co. JPM, Citigroup Inc. C and Wells Fargo & Company WFC today.
At a current reading of 80.0, the index remained in the "Extreme Greed" zone, versus a previous reading of 80.0
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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