Investor Sentiment Improves Further Amid Surge In Tech Stocks

The CNN Money Fear and Greed index showed some improvement in overall market sentiment, but the index remained in the "Greed" zone on Monday.

U.S. stocks closed higher on Monday, with the Nasdaq Composite notching its best day since Nov. 14, 2023. The VanEck Semiconductor ETF SMH surged 3.5% to record its best session since November.

The Boeing Company BA shares fell 8% on Monday after an exit door blew out of a 737 aircraft during a commercial flight. The Federal Aviation Administration grounded 171 Boeing jets over the weekend after travelers aboard an Alaska Air Group flight were forced to make an emergency landing after a panel flew off a new 737 MAX 9 shortly after takeoff, per Reuters. NVIDIA Corporation NVDA shares gained 6.4% after the company announced the GeForce RTX SUPER desktop GPUs.

Most sectors on the S&P 500 closed on a positive note, with information technology, consumer discretionary, and communication services stocks recording the biggest gains on Monday. However, energy stocks bucked the overall market trend, closing the session lower.

The Dow Jones closed higher by around 217 points to 37,683.01 on Monday. The S&P 500 rose 1.41% at 4,763.54, while the Nasdaq Composite jumped 2.20% at 14,843.77 during Monday’s session.

U.S. stocks recorded their first losing week in ten, as the Dow fell 0.59%, and the S&P 500 declined 1.52% last week.

Investors are awaiting earnings results from PriceSmart, Inc. PSMT, Albertsons Companies, Inc. ACI, and TD SYNNEX Corporation SNX today.

At a current reading of 74.3, the index remained in the "Greed" zone on Monday, versus a prior reading of 70.8.

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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