The CNN Money Fear and Greed index showed a decline in the overall market sentiment, while the index remained in the “Neutral” zone on Thursday.
U.S. stocks settled lower on Thursday, with the Dow Jones index falling more than 200 points following the release of inflation data.
Tech stocks were among the notable decliners, with shares of Nvidia Corp. NVDA falling over 1% on Thursday. Adobe Inc. ADBE shares fell over 13% after the company issued weaker-than-expected 2025 guidance.
On the economic data front, U.S. initial jobless claims increased by 17,000 from the previous week to a reading of 242,000 during the first week of December, compared to market estimates of 220,000. Core producer prices increased by 0.2% month-over-month in November compared to a 0.3% increase in the previous month, which is in line with market expectations.
Most sectors on the S&P 500 closed on a negative note, with healthcare, consumer discretionary, and communication services stocks recording the biggest losses on Thursday. However, consumer staples stocks bucked the overall market trend, closing the session higher.
The Dow Jones closed lower by around 234 points to 43,914.12 on Thursday. The S&P 500 fell 0.54% to 6,051.25, while the Nasdaq Composite dipped 0.66% to close at 19,902.84 during Thursday's session.
Investors are awaiting earnings results from 51Talk Online Education Group COE today.
What is CNN Business Fear & Greed Index?
At a current reading of 48.6, the index remained in the “Neutral” zone on Thursday, versus a prior reading of 51.7.
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:
Photo courtesy: Shutterstock
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
