The CNN Money Fear and Greed index showed a decline in the overall market sentiment, while the index moved to the “Fear” zone on Monday.
U.S. stocks settled mixed on Monday, with the Nasdaq Composite dipping more than 3% during the session. A wild selloff rattled tech stocks on Monday, striking at the heart of AI optimism as China's DeepSeek startup unveiled an open-source large language model platform that outperforms OpenAI's ChatGPT at a fraction of the cost.
U.S. stocks closed higher last week, with all three major indices recording their second consecutive positive week. The S&P 500 and Nasdaq each gained around 1.7%, while the Dow added 2.2%.
On Monday, AT&T Inc. T reported better-than-expected fourth-quarter results. The company posted operating revenues of $32.30 billion, up by 0.9% year over year. It beat the analyst consensus estimate of $32.04 billion. Adjusted EPS of 54 cents beat the estimate of 50 cents.
On the economic data front, the Chicago Fed National Activity Index rose to 0.15 in December, recording the strongest reading in seven months, versus a revised -0.01 in the previous month. U.S. building permits rose by 0.7% to an annualized rate of 1.482 million in December.
Most sectors on the S&P 500 closed on a positive note, with healthcare, financial, and consumer staples stocks recording gains on Monday. However, information technology and utilities stocks bucked the overall market trend, closing the session lower.
The Dow Jones closed higher by around 289 points to 44,713.58 on Monday. The S&P 500 fell 1.46% to 6,012.28, while the Nasdaq Composite fell 3.07% at 19,341.83 during Monday's session.
Investors are awaiting earnings results from General Motors Co. GM, The Boeing Co. BA )) and Starbucks Corp. SBUX today.
What is CNN Business Fear & Greed Index?
At a current reading of 39.1, the index moved to the “Fear” zone on Monday, versus a prior reading of 42.6.
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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