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.
Tesla, Inc. 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 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. AZO, Toll Brothers, Inc. TOL and Signet Jewelers Limited 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.
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.