Fear & Greed Index Remains In 'Neutral' Zone After US Stocks Record Weekly Loss

The CNN Money Fear and Greed index remained in the "Neutral" zone after U.S. stocks closed mixed on Friday.

U.S. stocks recorded losses last week, with the Dow falling 2.2%. The S&P 500 declined 2.1%, recording losses for the straight week.

Keysight Technologies, Inc. KEYS shares fell around 14% on Friday after the company issued fourth-quarter adjusted EPS and revenue guidance below estimates.

Deere & Co DE reported third-quarter FY23 net sales and revenue growth of 12% Y/Y to $15.80 billion, beating the consensus of $14.25 billion.

Major sectors on the S&P 500 closed on a mixed note, with energy, utilities and consumer staples stocks recording the biggest gains on Friday. However, communication services and consumer discretionary stocks closed lower during the Friday’s session.

The Dow Jones closed higher by over 25 points to 34,500.66 on Friday. The S&P 500 fell 0.01% at 4,369.71, while the Nasdaq Composite lost 0.20% at 13,290.78 during the session.

Investors are awaiting earnings results from Zoom Video Communications, Inc. ZM, Nordson Corporation NDSN and Fabrinet FN today.

At a current reading of 45.0, the index remained in the "Neutral" zone on Friday.

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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