S&P 500 Ends Three-Session Win Streak Amid Decline In Apple, Nvidia: Greed Index Remains In 'Fear' Zone

The CNN Money Fear and Greed index showed a decline in overall market sentiment, while the index remained in the “Fear” zone on Thursday.

U.S. stocks settled lower on Thursday, with the S&P 500 ending a three-session winning streak.

Big tech shares recorded losses during the session, with Apple Inc. AAPL falling 4% and NVIDIA Corp. NVDA down around 2%.

Morgan Stanley MS topped earnings expectations, while Bank of America Corp. BAC also surpassed bottom-line projections.

On the economic data front, U.S. retail sales rose 0.4% month-over-month in December versus a revised 0.8% increase in the previous month and down from market estimates of 0.6%. U.S. initial jobless claims increased by 14,000 from the previous week to 217,000 in the week ending January 11, compared to market estimates of 210,000.

Most sectors on the S&P 500 closed on a positive note, with utilities, real estate, and industrials stocks recording gains on Thursday. However, information technology and communication services stocks bucked the overall market trend, closing the session lower.

The Dow Jones closed lower by around 68 points to 43,153.13 on Thursday. The S&P 500 fell 0.21% to 5,937.34, while the Nasdaq Composite dipped 0.89% to 19,338.29 during Thursday's session.

Investors are awaiting earnings results from Fastenal Co. FAST, State Street Corp. STT )) and Schlumberger Limited SLB today.

What is CNN Business Fear & Greed Index?

At a current reading of 28.4, the index remained in the “Fear” zone on Thursday, versus a prior reading of 31.1.

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.

Read Next: