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The CNN Money Fear and Greed index showed some improvement in the overall market sentiment, with the index remaining in the “Neutral” zone on Monday.
U.S. stocks closed mixed on Monday, ahead of earnings results from major companies and the Federal Reserve’s policy decision this week.
The S&P 500 fell 0.8% last week, while the Nasdaq dipped 2.1%, with both indices recording posting back-to-back weekly losses. However, the Dow outperformed, with the index gaining 0.8% to record its fourth straight positive week.
On the economic data front, the Dallas Fed Manufacturing index declined to -17.5 in July versus a reading of -15.1 in the prior month.
Shares of ON Semiconductor Corp (NASDAQ:ON) rose 11.5% in Monday’s session after the company reported better-than-expected second-quarter financial results. McDonald's Corp (NYSE:MCD) posted worse-than-expected second-quarter financial results. Tesla, Inc. (NASDAQ:TSLA) shares jumped 5.6% on Monday after Morgan Stanley reiterated an Overweight rating and maintained a price target of $310.
Most sectors on the S&P 500 closed on a positive note, with consumer discretionary, communication services, and real estate stocks recording the biggest gains on Monday. However, energy and information technology stocks bucked the overall market trend, closing the session lower.
The Dow Jones closed lower by around 49 points to 40,539.93 on Monday. The S&P 500 gained 0.08% at 5,463.54, while the Nasdaq Composite climbed 0.07% at 17,370.20 during Monday's session.
Investors are awaiting earnings results from Microsoft Corporation (NASDAQ:MSFT), Pfizer Inc. (NYSE:PFE), and The Procter & Gamble Company (NYSE:PG) today.
What is CNN Business Fear & Greed Index?
At a current reading of 45.7, the index remained in the “Neutral” zone on Monday, versus a prior reading of 45.
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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