The CNN Money Fear and Greed index showed some improvement in the overall market sentiment, while the index remained in the “Neutral” zone on Tuesday.
U.S. stocks settled mixed on Tuesday, with the Nasdaq gaining around 1% during the session as investors shrugged off rising geopolitical concerns between Ukraine and Russia. Ukraine launched its first U.S.-made missile strike on a Russian city, while Russian President Vladimir Putin adjusted the nation’s nuclear doctrine to broaden scenarios for a potential response.
Nvidia Corp. (NASDAQ:NVDA) shares gained around 5% on Tuesday ahead of its quarterly earnings report, due to be released today. Tesla Inc. (NASDAQ:TSLA) shares also gained 2%, adding around 38% month-to-date.
Shares of Walmart Inc. (NYSE:WMT) rose around 3% on Tuesday after the company posted upbeat quarterly earnings and raised its outlook. Medtronic Plc. (NYSE:MDT) reported better-than-expected results for its second quarter and raised its outlook.
On the economic data front, housing starts in the U.S. declined by 3.1% to 1.311 million in October versus a revised 1.353 million in the previous month. U.S. building permits declined by 0.6% to an annual rate of 1.416 million in October
Most sectors on the S&P 500 closed on a positive note, with energy, communication services, and consumer discretionary stocks recording the biggest gains on Monday. However, industrials stocks bucked the overall market trend, closing the session lower.
The Dow Jones closed lower by around 121 points to 43,268.94 on Tuesday. The S&P 500 rose 0.40% to 5,916.98, while the Nasdaq Composite gained 1.04% to close at 18,987.47 during Tuesday’s session.
Investors are awaiting earnings results from Target Corporation (NYSE:TGT), The TJX Companies, Inc. (NYSE:TJX), and Nvidia Corp. (NASDAQ:NVDA) today.
What is CNN Business Fear & Greed Index?
At a current reading of 50.1, the index remained in the “Neutral” zone on Tuesday, versus a prior reading of 49.9.
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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