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The CNN Money Fear and Greed index moved to the “Neutral” zone a day after the Federal Reserve announced another 0.75 percentage point rate hike on Wednesday.
U.S. stocks recorded losses for the fourth session in a row ahead of the much-awaited data on nonfarm payrolls. For the week, all the major indices are on course to record losses.
QUALCOMM Incorporated QCOM, Roku, Inc ROKU and Fortinet, Inc. FTNT all reported disappointing results for the latest quarter.
Cardinal Health, Inc. CAH, The Hershey Company HSY and Huntsman Corporation HUN are set to report quarterly earnings today.
The Dow fell 0.46% to close at 32,001.25 on Thursday. The S&P 500 declined 1.06% to 3,719.89, while the Nasdaq Composite dipped 1.73% to settle at 10,342.94 in the previous session.
At a current reading of 55.0, the index moved to the “Neutral” zone, unchanged from a previous reading of 56.0.
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.