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The CNN Money Fear and Greed index moved to the "Extreme Greed" zone on Tuesday.
U.S. stocks closed slightly higher, with the S&P 500 trading near a nine-month high level on Tuesday.
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Coinbase Global, Inc. (NASDAQ:COIN) shares dropped 12% on Tuesday after the SEC sued the company in NY federal court. Hoth Therapeutics, Inc. (NASDAQ:HOTH) shares jumped 78% after the company announced preclinical results for HT-ALZ for the treatment of Alzheimer's disease.
The Dow Jones closed higher by around 10 points to 33,573.28 on Tuesday. The S&P 500 rose 0.24% at 4,283.85, while the Nasdaq Composite added 0.36% to settle at 13,276.42 during the session.
Investors are awaiting earnings results from United Natural Foods, Inc. (NYSE:UNFI), Campbell Soup Company (NYSE:CPB) and GameStop Corp. (NYSE:GME) today.
At a current reading of 75.0, the index moved to the "Extreme Greed" zone, versus a previous reading of 73.0
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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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.