Investor Optimism Improves Further Ahead Of US Midterm Elections

Investor Optimism Improves Further Ahead Of US Midterm Elections

The CNN Money Fear and Greed index showed further improvement in investor sentiment among US investors after Wall Street closed higher on Monday ahead of congressional midterm elections and inflation data due this week.

On the earnings front, Activision Blizzard, Inc. ATVI reported better-than-expected results for its third quarter after the closing bell on Monday, while Take-Two Interactive Software, Inc. TTWO reported worse-than-expected Q2 results and issued weak FY23 guidance.

Expeditors International of Washington, Inc. EXPD, Occidental Petroleum Corporation OXY and The Walt Disney Company DIS are set to report quarterly earnings today.

The Dow jumped 1.31% to close at 32,827.00 on Monday. The S&P 500 surged 0.96% to 3,806.80, while the Nasdaq Composite jumped 0.85% to settle at 10,564.52 in the previous session.

At a current reading of 63.0, the index remained in the "Greed" zone, unchanged from a previous reading of 60.0.

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.

Posted In: CNN Business Fear & Greed IndexEarningsNewsPre-Market OutlookMarketsTrading Ideas