Dow Gains Over 200 Points But Records Weekly Loss: Investor Sentiment Edges Higher, But Greed Index Remains in 'Fear' Zone
The CNN Money Fear and Greed index showed some improvement in the overall market sentiment, while the index remained in the “Fear” zone on Friday. U.S. stocks settled mixed on Friday, with the Dow Jones index gaining more than 200 points during the session. However, the Nasdaq settled lower amid a decline in chip stocks. Major indices on Wall Street settled lower last week, with the S&P 500 and the Nasdaq falling 0.6% and 2.1%, respectively. The Dow also lost 0.4% during the period, recording losses for the third straight week. The Wall Street Journal reported that Bahrain and Kuwait warplanes had struck sites inside Iran, and Iranian commanders issued fresh threats, even as Pakistan and Iran were said to be exploring a China-brokered path back to talks with Washington. On the earnings front, Verizon Communications Inc. (NYSE: VZ ) reported better-than-expected second-quar...
The CNN Money Fear and Greed index showed some improvement in the overall market sentiment, while the index remained in the “Fear” zone on Friday.
U.S. stocks settled mixed on Friday, with the Dow Jones index gaining more than 200 points during the session.
However, the Nasdaq settled lower amid a decline in chip stocks.
Major indices on Wall Street settled lower last week, with the S&P 500 and the Nasdaq falling 0.6% and 2.1%, respectively.
The Dow also lost 0.4% during the period, recording losses for the third straight week.
The Wall Street Journal reported that Bahrain and Kuwait warplanes had struck sites inside Iran, and Iranian commanders issued fresh threats, even as Pakistan and Iran were said to be exploring a China-brokered path back to talks with Washington.
On the earnings front, Verizon Communications Inc. (NYSE: VZ ) reported better-than-expected second-quarter earnings, while revenue narrowly missed expectations.
American Express Co (NYSE: AXP ) reported mixed second-quarter financial results and narrowed its FY26 sales guidance slightly below estimates.
On the economic data front, the S&P Global composite PMI climbed to 53.6 in July from 51.9 in the previous month, recording its highest reading since November.
The S&P Global manufacturing PMI slipped to 53.8 in July from 53.9 in June, down from market expectations of 54.3.
Most sectors on the S&P 500 closed on a positive note, with consumer staples, real estate and materials stocks recording the biggest gains on Friday.
However, information technology stocks bucked the overall market trend, closing the session lower.
The Dow Jones closed higher by around 236 points to 51,947.25 on Friday.
The S&P 500 rose 0.05% to 7,411.98, while the Nasdaq Composite declined 0.64% to 24,975.82 during Friday’s session.
Investors are awaiting earnings results from Nucor Corp (NYSE: NUE ), Celestica Inc (NYSE: CLS ) and F5 Inc (NASDAQ: FFIV ) today.
What Is CNN Business Fear & Greed Index? At a current reading of 39.4, the index remained in the “Fear” zone on Friday, versus a prior reading of 38.9.
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.
Photo courtesy: Shutterstock