The CNN Money Fear and Greed Index showed some improvement in the overall market sentiment, while the index remained in the “Greed” zone on Wednesday.
U.S. stocks settled mostly higher on Wednesday, with the Nasdaq Composite gaining more than 100 points during the session following the release of inflation data.
The July consumer price index rose 0.1% month-over-month and 3.4% year-over-year, both in line with forecasts and a second straight annual deceleration from June’s 3.5%. Core CPI rose 0.2% on the month and cooled to 2.5% annually, the softest in five months.
On the earnings front, Performance Food Group Co. (NYSE:PFGC) shares fell around 6% on Wednesday after the company reported worse-than-expected fourth-quarter financial results and issued first-quarter guidance below estimates. CoreWeave Inc. (NASDAQ:CRWV) jumped over 19% after the company reported better-than-expected second-quarter financial results and raised its FY26 sales guidance.
Most sectors on the S&P 500 closed on a positive note, with information technology, real estate and utilities stocks recording the biggest gains on Wednesday. However, consumer discretionary and materials stocks bucked the overall market trend, closing the session lower.
The Dow Jones closed lower by around 22 points to 53,770.27 on Wednesday. The S&P 500 rose 0.26% to 7,748.50, while the Nasdaq Composite climbed 0.54% at 26,588.49 during Tuesday’s session.
Investors are awaiting earnings results from Applied Materials Inc. (NASDAQ:AMAT), Applied Industrial Technologies Inc. (NYSE:AIT) and Dillard’s Inc. (NYSE:DDS) today.
What is CNN Business Fear & Greed Index?
At a current reading of 62, the index remained in the “Greed” zone on Wednesday, versus a prior reading of 61.
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 greed.
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