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The CNN Money Fear and Greed index showed an easing in the investor sentiment after the Dow Jones tumbled by around 500 points on Monday.
US stocks declined in the previous session amid concerns over further Fed policy tightening after ISM services index came in better-than-expected for the month of November.
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Tesla, Inc. (NASDAQ:TSLA) shares dropped 6.4% on Monday following reports suggesting the company plans to cut production at its Shanghai factory amid slow demand. Salesforce Inc (NYSE:CRM) shares dipped over 7% after a pair of analysts lowered price targets on the stock.
The Dow dipped around 483 points to close at 33,947.10 on Monday. The S&P 500 fell 1.79% to 3,998.84, while the Nasdaq Composite fell 1.93% to settle at 11,239.94 in the previous session. All three major US indices recorded gains last week.
AutoZone, Inc. (NYSE:AZO), Toll Brothers, Inc. (NYSE:TOL) and Signet Jewelers Limited (NYSE:SIG) are set to report quarterly earnings today.
At a current reading of 65.0, the index remained in the "Greed" zone, compared to a previous reading of 69.0.
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.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.