The CNN Money Fear and Greed index showed an improvement in the overall market sentiment, while the index remained in the “Neutral” zone on Thursday.
U.S. stocks settled higher on Thursday, with the Dow Jones index gaining more than 600 points during the session as investors assessed the latest reading of a key consumer inflation.
All three major U.S. equity benchmarks — the S&P 500, Nasdaq 100, and Dow Jones — surged to fresh record highs on Thursday, as investors piled into risk assets on growing bets that interest rates will soon fall.
The rally came despite gloomy economic data: U.S. inflation accelerated to 2.9% year-over-year in August, while weekly jobless claims spiked to 263,000 – their highest level since October 2021.
Kroger Co. (NYSE:KR) reported better-than-expected second-quarter earnings on Thursday. The Lovesac Co. (NASDAQ:LOVE) fell around 15% on Thursday after the company cut FY2026 GAAP EPS guidance and narrowed its sales outlook.
Most sectors on the S&P 500 closed on a positive note, with consumer discretionary, health care and materials stocks recording the biggest gains on Thursday. However, energy stocks bucked the overall market trend, closing the session slightly lower.
The Dow Jones closed higher by around 617 points to 46,108.00 on Thursday. The S&P 500 rose 0.85% to 6,587.47, while the Nasdaq Composite gained 0.72% to 22,043.07 during Thursday's session.
Investors are awaiting earnings results from Huize Holding Ltd. (NASDAQ:HUIZ) on Friday.
What is CNN Business Fear & Greed Index?
At a current reading of 52.9, the index remained in the “Neutral” zone on Thursday, versus a prior reading of 49.9.
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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