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The CNN Money Fear and Greed index moved to the “Greed” zone after the Dow Jones jumped more than 500 points on Monday.
US stocks rebounded on Monday after notching losses last week. The Dow dipped 2.77% to record its worst week since September.
Investors now await the consumer price index and Federal Reserve’s interest rate decision.
Shares of Coupa Software Incorporated (NASDAQ: COUP) jumped around 27% on Monday after the company entered an agreement to be acquired by Thoma Bravo for $81 per share in cash.
The Dow jumped around 529 points to close at 34,005.04 on Monday. The S&P 500 rose 1.43% to 3,990.56, while the Nasdaq Composite surged 1.26% to settle at 11,143.74 in the previous session.
Core & Main, Inc. CNM, Photronics, Inc. (NASDAQ: PLAB) and ABM Industries Incorporated ABM are set to report quarterly earnings today.
At a current reading of 58.0, the index moved to the “Greed” zone, compared to a previous reading of 54.0.
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.
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Image and article originally from www.benzinga.com. Read the original article here.