The CNN Money Fear and Greed index remained in the "Fear" zone on Friday.

The Dow Jones closed lower on Friday following the release of personal consumption expenditures price index. The headline PCE price index increased from an upwardly revised 3.4% in July to 3.5% year-on-year in August 2023, matching the expected 3.5% and marking the second consecutive monthly rise. Excluding energy and food items from the basket, the core PCE price index dropped from 4.2% in July to 3.9% year-on-year in August, as expected.

Carnival Corp (NYSE:CCL) reported better-than-expected earnings for its third quarter on Friday.

Most sectors on the S&P 500 closed on a negative note, with energy and financial stocks recording the biggest losses on Friday. However, consumer discretionary, real estate and information technology stocks bucked the overall market trend, closing the session higher.

The Dow Jones closed lower by around 159 points to 33,507.50 on Friday. The S&P 500 fell 0.27% at 4,288.05, while the Nasdaq Composite added 0.14% at 13,219.32 during Friday’s session.
The S&P 500 fell around 4.9% in September and ended the quarter lower by 3.7%. The Dow recorded a 3.5% decline for September and a 2.6% decline for the quarter.

Investors are awaiting earnings results from Upexi Inc. (NASDAQ:UPXI) and Antelope Enterprise Holdings Limited (NASDAQ:AEHL) today.

At a current reading of 28.3, the index remained in the "Fear" zone on Friday, compared to a previous reading of 28.6.

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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