The CNN Money Fear and Greed index showed further improvement in the overall market sentiment, with the index remaining in the "Greed" zone on Monday.
U.S. stocks closed little changed on Monday, ahead of key inflation data. Data on consumer and producer price indexes for March will be released this week.
On Monday, the rate on the benchmark 10-year Treasury note rose around 4 basis points to 4.42%.
Shares of Perion Network Ltd. PERI tumbled more than 40% on Monday after the company slashed its FY24 revenue guidance.
Most sectors on the S&P 500 closed on a negative note, with energy, information technology and health care stocks recording the biggest losses on Monday. However, real estate and consumer discretionary bucked the overall market trend, closing the session higher.
The Dow Jones closed lower by around 11 points to 38,892.80 on Monday. The S&P 500 slipped 0.04% at 5,202.39, while the Nasdaq Composite rose 0.03% at 16,253.96 during Monday’s session.
Investors are awaiting earnings results from SMART Global Holdings, Inc. SGH, PriceSmart, Inc. PSMT and Neogen Corporation NEOG today.
At a current reading of 65.9, the index remained in the "Greed" zone on Monday, versus a prior reading of 62.3.
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.
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