Investor Fear Grows Slightly Ahead Of Key Jobs Data

The CNN Money Fear and Greed index showed some growth in the fear level, remaining in the "Extreme Fear" zone on Thursday.

U.S. stocks closed slightly lower on Thursday, as investors awaited a key jobs report that could determine the Federal Reserve’s next move on rates. Analysts expect the U.S. economy to add 170,000 jobs in September, following a 187,000 jobs gain in the prior month.

On the economic data front, U.S. initial jobless claims rose by 2,000 to 207,000 in the week ending Sept. 30, versus market estimates of 210,000. The U.S. trade gap shrank to $58.3 billion in August, the lowest since Sept. 2020, and compared to market estimates of a $62.3 billion deficit.

ConAgra Brands Inc CAG reported better-than-expected earnings for its first quarter on Thursday. Constellation Brands Inc STZ reported upbeat earnings for its second quarter.

Most S&P 500 sectors closed on a negative note, with consumer staples and materials stocks recording the biggest losses on Thursday. However, real estate, health care and financial stocks bucked the overall market trend, closing the session higher.

The Dow Jones closed lower by around 10 points to 33,119.57 on Thursday. The S&P 500 fell 0.13% at 4,258.19, while the Nasdaq Composite lost 0.12% at 13,219.83 during Thursday’s session.

At a current reading of 23.6, the index remained in the "Extreme Fear" zone on Thursday, compared to a previous reading of 23.4.

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: Clearside Biomedical And 3 Other Stocks Under $3 Insiders Are Buying