The CNN Money Fear and Greed index showed an improvement in the overall market sentiment, while the index remained in the “Neutral” zone on Friday.
U.S. stocks settled higher on Friday, as investors digested the recent jobs data.
The U.S. economy added 12,000 jobs in October compared to a revised 223,000 gain in September and versus market estimates of 113,000. Average hourly earnings increased by 0.4% over a month to $35.46 in October, while the unemployment rate remained at 4.1% in October.
Shares of Amazon.com Inc. (NASDAQ:AMZN) surged over 6% on Friday after the company posted stronger-than-expected results for the third quarter. Apple Inc. (NASDAQ:AAPL) shares slipped over 1% following fourth-quarter results.
Most sectors on the S&P 500 closed on a negative note, with utilities, energy, and real estate stocks recording the biggest losses on Friday. However, consumer discretionary and information technology stocks bucked the overall market trend, closing the session higher.
The Dow Jones closed higher by around 289 points to 42,052.19 on Friday. The S&P 500 rose 0.41% to 5,728.80, while the Nasdaq Composite rose 0.80% at 18,239.92 during Friday’s session.
U.S. stocks recorded losses in October, with the Dow falling 1.3% and the broad market index declining 1% during the month.
Investors are awaiting earnings results from Constellation Energy Corporation (NASDAQ:CEG), Marriott International, Inc. (NASDAQ:MAR), and Wynn Resorts, Limited (NASDAQ:WYNN) today.
What is CNN Business Fear & Greed Index?
At a current reading of 48.8, the index remained in the “Neutral” zone on Friday, versus a prior reading of 46.5.
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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