The CNN Money Fear and Greed index showed a decline in the overall market sentiment, while the index remained in the “Neutral” zone on Tuesday.
U.S. stocks settled lower on Tuesday, with the S&P 500 and Nasdaq snapping their eight-session winning streaks.
Investors are awaiting the Federal Reserve's annual Jackson Hole Economic Symposium this week, with Fed Chair Jerome Powell set to issue comments on Friday. Minutes from the Fed's July policy meeting will be released today.
Shares of Palo Alto Networks, Inc. PANW gained over 7% on Tuesday after the company reported better-than-expected results for its fourth quarter and issued strong guidance. Lowe’s Companies, Inc. LOW reported stronger-than-expected second-quarter earnings, but revealed a decline in comparable sales and revised its FY24 outlook downward.
Most sectors on the S&P 500 closed on a negative note, with energy, materials, and financials stocks recording the biggest losses on Tuesday. However, consumer staples and healthcare stocks bucked the overall market trend, closing the session higher.
The Dow Jones closed lower by around 62 points to 40,834.97 on Monday. The S&P 500 fell 0.20% to 5,597.12, while the Nasdaq Composite fell 0.33% at 17,816.94 during Tuesday's session.
Investors are awaiting earnings results from The TJX Companies, Inc. TJX, Target Corporation TGT, and Zoom Video Communications, Inc. ZM today.
What is CNN Business Fear & Greed Index?
At a current reading of 44.8, the index remained in the “Neutral” zone on Tuesday, versus a prior reading of 46.9.
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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