The CNN Money Fear and Greed Index moved into the “neutral” zone after the Dow Jones fell more than 300 points on Friday.
US stocks tumbled last week, with the Dow falling 2.77% for its worst week since September. The S&P also fell about 3.3%, while the Nasdaq lost about 4%.
Data released on Friday showed that the US final consumer price index rose 0.3%m/m in November, compared with a revised rise of 0.3% in the previous month and above market expectations of 0.2%.
Investors are now waiting for the consumer price index, which is due to be released on Tuesday. Markets are expecting the Federal Reserve to announce a 50 basis point rate hike on Wednesday.
shares of Lululemon Athletica Inc. LULU fell about 13% on Friday after the company released third-quarter financial results and guidance.
The Dow fell around 305 points to close at 33,476.46 on Friday. The S&P 500 fell 0.73% to 3,934.38, while the Nasdaq Composite fell 0.70% to settle at 11,004.62 in the previous session.
Oracle Corporation ORCL, Blue Bird Corporation BLBD and Coupa Software Incorporated COUP will announce quarterly results today.
With the current reading at 54.0, the index moved into “neutral” territory compared to a previous reading of 57.0.
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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