The Fear & Greed Index moves into the “Greed” zone after the Dow rose over 500 points

The Fear & Greed Index moves into the “Greed” zone after the Dow rose over 500 points


The CNN Money Fear and Greed Index moved into the “greed” zone after a sharp rise in US stocks.

The Dow Jones rose more than 500 points on Friday before breaking a four-day losing streak apple inc AAPL reported better than expected quarterly results.

Despite Friday’s stock rally, the Dow and S&P 500 posted their worst weeks since March. The Dow fell 1.24% while the S&P 500 lost 0.8% last week.

Markets also welcomed strong April employment data. The US economy added 253k jobs last month, beating market expectations of 180k and versus a revised 165k gain in March. The unemployment rate fell to 3.4% in April versus market expectations of 3.6%. Average hourly earnings rose 0.5% in April to $33.36.

The Dow Jones closed about 547 points higher on Friday at 33,674.38. The S&P 500 was up 1.85% to 4,136.25, while the Nasdaq Composite was up 2.25% to settle at 12,235.41 during the session.

Investors await earnings results from Tyson Foods, Inc. TSN, DISH Network Corporation COURT And PayPal Holdings, Inc PYPL Today.

With the current reading at 59.0, the index moved into “greed” territory from a previous reading of 53.0

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.

Continue reading: Top 5 consumer stocks that could shoot higher this month


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