The CNN Money Fear and Greed Index showed some improvement in overall market sentiment.
US stocks ended lower on Friday amid mounting recession concerns as the Federal Reserve continued to hike interest rates. The Fed hiked rates by 50 basis points at its most recent meeting.
Wall Street posted losses for the second straight week, with the S&P 500 falling over 2% last week.
The Dow closed about 282 points lower at 32,920.46 on Friday. The S&P 500 fell 1.11% to 3,852.36, while the Nasdaq Composite fell 0.97% to settle at 10,705.41 in the previous session.
Steelcase Inc. SCS and HEICO Corporation HEY will announce quarterly results today.
With a current reading of 55.0, the index remained in “neutral” territory compared to a previous reading of 45.0.
What is the CNN Business Fear & Greed Index?
The Fear & Greed Index is a measure of current market sentiment. It is based on the premise that higher fear puts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equally weighted indicators. The index ranges from 0 to 100, with 0 representing maximum fear and 100 representing maximum greed.
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