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The CNN Money Fear and Greed index showed some easing in the fear level among US investors after US stocks closed higher on Thursday.
US stocks recorded gains after data from the Labor Department showed a rise in jobless claims from last week. US initial jobless claims increased by 9,000 to 225,000 in the week ending December 24, compared to market expectations of 225,000.
Apple Inc. AAPL shares rebounded on Thursday after dropping to another 52-week low in the previous session.
The Dow closed higher by around 345 points to 33,220.80 on Thursday. The S&P 500 rose 1.75% to 3,849.28, while the Nasdaq Composite jumped 2.59% to settle at 10,478.09 in the previous session.
At a current reading of 36.0, the index remained in the “Fear” zone, compared to a previous reading of 31.0.
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.