The CNN Money Fear and Greed index showed a further decline in the overall market sentiment, while the index remained in the “Neutral” zone on Monday.
U.S. stocks settled mixed on Monday, with the Nasdaq gaining more than 100 points during the session as the Tesla, Inc. TSLA stock surged 5.6% following reports of President-elect Donald Trump’s policy outlook on regulations for autonomous driving.
U.S. stocks recorded losses last week, with the S&P 500 falling 2.1% and the Nasdaq Composite losing around 3.2%. The 30-stock Dow lost 1.2% during the week.
As far as the earnings season is concerned, around 93% of the S&P 500 companies have released quarterly results so far, with around 74% of those exceeding earnings estimates.
On the economic data front, the NAHB/Wells Fargo Housing Market Index climbed to 46 in November, recording the highest reading in seven months, compared to 43 in October.
Most sectors on the S&P 500 closed on a positive note, with energy, communication services, and consumer discretionary stocks recording the biggest gains on Monday. However, industrials stocks bucked the overall market trend, closing the session lower.
The Dow Jones closed lower by around 55 points to 43,389.60 on Monday. The S&P 500 rose 0.39% to 5,893.62, while the Nasdaq Composite gained 0.60% to close at 18,791.81 during Monday's session.
Investors are awaiting earnings results from Walmart Inc. WMT, Lowe’s Companies, Inc. LOW, and Medtronic Plc. MDT today.
What is CNN Business Fear & Greed Index?
At a current reading of 50.1, the index remained in the “Neutral” zone on Monday, versus a prior reading of 51.1.
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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