Fear & Greed Index Remains In 'Extreme Greed' Zone After Dow Records 3rd Week Of Gains

The CNN Money Fear and Greed index remained in the "Extreme Greed" zone on Friday.

The Dow Jones closed higher on Friday, recording gains for a third week in a row. On Thursday, the 30-stock average ended a 13-day win streak.

The PCE price index rose 0.2% month-over-month in June versus a 0.1% increase in May. Core PCE prices rose by 0.2% month-over-month in June easing from a 0.3% increase in the earlier month. The annual rate, which is the Fed’s preferred gauge for inflation, increased by 4.1%.

The Federal Reserve increased interest rates earlier last week in a widely expected move.

Procter & Gamble PG reported better-than-expected earnings and revenue for its most recent quarter.

The Dow Jones closed higher by around 177 points to 35,459.29 on Friday. The S&P 500 rose 0.99% at 4,582.23, while the Nasdaq Composite added 1.90% at 14,316.66 during the session.

Investors are awaiting earnings results from ON Semiconductor Corporation ON, Tenet Healthcare Corporation THC and Western Digital Corporation WDC today.

At a current reading of 78.0, the index remained in the "Extreme Greed" zone, versus a previous reading of 78.0

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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