The CNN Money Fear and Greed index showed further improvement in the overall market sentiment after the US stocks recorded gains for third straight session.
A drop in bond yields added to the recent gains, with the yield on the benchmark 10-year Treasury note dropping to 4.087% on Tuesday.
On the economic data front, the S&P CoreLogic Case-Shiller 20-city home price index released Tuesday showed home prices dropping 1.3% month-over-month in August, but were still 13.1% higher from a year earlier. The Conference Board's consumer confidence index fell to 102.5 in October from previous reading of 107.8.
The Boeing Company BA, Meta Platforms, Inc. META, Ford Motor Company F are all set to release quarterly earnings today.
The Dow jumped 1.07% to close at 31,836.74 on Tuesday, while the S&P 500 rose 1.63% to 3,859.11. The Nasdaq Composite climbed 2.25% to settle at 11,199.12 in the previous session, following gains in Microsoft Corporation MSFT, Apple Inc. AAPL and Amazon.com, Inc. AMZN shares.
At a current reading of 54.0, the index moved close to the "Greed" zone, following a previous reading of 50.0.
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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