The CNN Money Fear and Greed index showed some improvement in the overall market sentiment, while the index was in the “Greed” zone on Tuesday.
U.S. stocks settled higher on Tuesday, with the Dow Jones index gaining more than 500 points during the session as investor sentiment improved following a ceasefire agreement between Israel and Iran, confirmed by both President Donald Trump and Israeli Prime Minister Benjamin Netanyahu.
TD Synnex Corp. (NYSE:SNX) reported better-than-expected earnings for the second quarter on Tuesday. Nano Labs Ltd. (NASDAQ:NA) shares jumped 36% on Tuesday after the company announced a $500 million convertible notes private placement for its BNB treasury strategy.
On the economic front, the U.S. current account deficit increased by 44.3% to $450.2 billion in the first quarter versus a revised deficit of $312 billion in the fourth quarter and compared to market estimates of a $443.3 billion gap. The S&P CoreLogic Case-Shiller Home Price Index increased 3.4% year-over-year in April following a 4.1% gain in the previous month.
Most sectors on the S&P 500 closed on a positive note, with information technology, communication services and financial stocks recording the biggest gains on Tuesday. However, energy stocks bucked the overall market trend, closing the session lower.
The Dow Jones closed higher by around 507 points to 43,089.02 on Tuesday. The S&P 500 rose 1.11% to 6,092.18, while the Nasdaq Composite climbed 1.43% to 19,912.53 during Tuesday’s session.
Investors are awaiting earnings results from General Mills, Inc. (NYSE:GIS), Paychex, Inc. (NASDAQ:PAYX) and Micron Technology Inc. (NASDAQ:MU) today.
What is CNN Business Fear & Greed Index?
At a current reading of 56.3, the index remained in the “Greed” zone on Tuesday, versus a prior reading of 55.4.
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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