The CNN Money Fear and Greed index showed a slight 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 Dow Jones index recording losses for the fourth straight session.
Oracle Corporation ORCL posted weaker-than-expected earnings and sales results for its second quarter on Monday. Alphabet Inc. GOOG GOOGL shares surged 5.6% following the unveiling of Google’s quantum computing chip.
On the economic data front, U.S. nonfarm business sector labor productivity increased by 2.2% in the third quarter, which is in line with the preliminary reading.
Most sectors on the S&P 500 closed on a negative note, with real estate, information technology, and materials stocks recording the biggest losses on Tuesday. However, communication services and consumer staples stocks bucked the overall market trend, closing the session higher.
The Dow Jones closed lower by around 154 points to 44,247.83 on Tuesday. The S&P 500 fell 0.30% to 6,034.91, while the Nasdaq Composite dipped 0.25% to close at 19,687.24 during Tuesday's session.
Investors are awaiting earnings results from Macy’s, Inc. M, Adobe Inc. ADBE, and Nordson Corporation NDSN today.
What is CNN Business Fear & Greed Index?
At a current reading of 48.5, the index remained in the “Neutral” zone on Tuesday, versus a prior reading of 48.9.
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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