Investor Sentiment Declines After Dow Snaps 13-Day Win Streak

The CNN Money Fear and Greed index showed further decline in overall sentiment among U.S. investors on Thursday.

The Dow Jones closed lower on Thursday, after recording gains for the 13 straight sessions.

Meta Platforms, Inc. META shares jumped around 4.4% on Thursday after the company reported better-than-expected second-quarter financial results.

On the economic data front, the U.S. economy grew by an annualized 2.4% quarter-over-quarter in the second quarter, compared to 2% in the prior period and higher than market estimates of 1.8%. U.S. initial jobless claims fell by 7,000 from the previous week to 221,000 in the week ended July 22, recording the lowest level in five months.

The Dow Jones closed lower by around 237 points to 35,282.72 on Thursday. The S&P 500 fell 0.64% at 4,537.41, while the Nasdaq Composite lost 0.55% at 14,050.11 during the session.

Investors are awaiting earnings results from Colgate-Palmolive Company CL, The Procter & Gamble Company PG and Exxon Mobil Corporation XOM today.

At a current reading of 78.0, the index remained in the "Extreme Greed" zone, versus a previous reading of 80.0

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.

Read Next: Check Out 3 Industrials Stocks With Over 4% Dividend Yields From Wall Street's Most Accurate Analysts