The CNN Money Fear and Greed index showed some improvement in overall sentiment among U.S. investors on Friday.
The Dow Jones recorded gains for a tenth straight session as traders assessed recent corporate earnings reports.
On a weekly basis, the Dow rose 2.08%, while the S&P 500 added 0.69%, with both indices recording second positive week in a row.
American Express Company AXP shares fell 3.9% on Friday after the company reported mixed financial results for the second quarter. CSX Corporation CSX shares declined 3.7% following worse-than-expected second-quarter sales results.
As far as the earnings season is concerned, out of the S&P 500 companies that have released quarterly results so far, around 75% of those exceeded profit estimates.
The Dow Jones closed higher by around 3 points to 35,227.69 on Friday. The S&P 500 rose 0.03% at 4,536.34, while the Nasdaq Composite lost 0.22% at 14,032.81 during the session.
Investors are awaiting earnings results from Domino's Pizza, Inc. DPZ, Whirlpool Corporation WHR and NXP Semiconductors N.V. NXPI today.
At a current reading of 82.0, 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
