The CNN Money Fear and Greed Index showed a slight increase in fear levels among US investors.

US stocks closed lower in the first trading session of 2023, giving up gains previously recorded during the session.

Investors also watched data showing that the US Manufacturing PMI fell to 46.2 in December from 47.7 a previous reading. Analysts were also expecting a reading of 46.2.

shares of Tesla, Inc. TSLA and apple inc AAPL both traded lower on Tuesday, weighing on the broader market.

The Dow closed about 10 points lower at 33,136.37 on Tuesday. The S&P 500 was down 0.40% to 3,824.14, while the Nasdaq Composite fell 0.76% to settle at 10,386.98 in the previous session.

Investors await earnings results from UniFirst Corporation UNF, Simulations Plus, Inc. SLP and Resource Connection, Inc. RGP today.

At a current reading of 36.0, the index remained in “fear” territory compared to a previous reading of 37.0.

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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