Investor Optimism Declines Following Earnings Reports

The CNN Money Fear and Greed index showed some decline in overall sentiment among U.S. investors on Tuesday.

U.S stocks closed mostly flat on Tuesday as investors digested the recent batch of earnings reports.

Goldman Sachs Inc GS shares dropped 1.7% on Tuesday after the bank reported mixed Q1 financial results, while Bank of America Corporation BAC shares edged higher after reporting better-than-expected Q1 results.

The Dow Jones closed lower by over 10 points to 33,976.63 on Tuesday. The S&P 500 rose 0.09% at 4,154.87, while the Nasdaq Composite fell 0.04% to settle at 12,153.41 during the session.

Investors are awaiting earnings results from Morgan Stanley MS, Tesla, Inc. TSLA and Abbott Laboratories ABT today.

At a current reading of 68.0, the index remained in the "Greed" zone, versus a previous reading of 70.0

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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