Dow Falls Over 50 Points Ahead of Inflation Data: Fear Index Remains in ‘Greed’ Zone
The CNN Money Fear and Greed index showed no change in the overall market sentiment, while the index remained in the “Greed” zone on Monday. U.S. stocks settled mostly lower on Monday, with the Dow Jones index falling more than 50 points as crude oil moved higher and Treasury yields rose to their highest level this month, with hopes for a near-term deal to reopen the Strait of Hormuz fading fast. Traders are waiting on Wednesday’s CPI report and Thursday’s PPI print for the next read on whether oil is leaking into core inflation. Stocks recorded gains for the second straight week, with the S&P 500 rising 3.6% and the Nasdaq surging 5.2%. The Dow also jumped around 3% last week. On the earnings front, National Energy Services Reunited Corp. (NASDAQ: NESR ) shares jumped over 23% on Monday after the company reported better-than-expected quarterly financial results. Monday.Co...
The CNN Money Fear and Greed index showed no change in the overall market sentiment, while the index remained in the “Greed” zone on Monday.
U.S. stocks settled mostly lower on Monday, with the Dow Jones index falling more than 50 points as crude oil moved higher and Treasury yields rose to their highest level this month, with hopes for a near-term deal to reopen the Strait of Hormuz fading fast.
Traders are waiting on Wednesday’s CPI report and Thursday’s PPI print for the next read on whether oil is leaking into core inflation.
Stocks recorded gains for the second straight week, with the S&P 500 rising 3.6% and the Nasdaq surging 5.2%.
The Dow also jumped around 3% last week.
On the earnings front, National Energy Services Reunited Corp. (NASDAQ: NESR ) shares jumped over 23% on Monday after the company reported better-than-expected quarterly financial results.
Monday.Com Ltd. (NASDAQ: MNDY ) shares fell around 5% on Monday after the company reported second-quarter financial results and issued weak third-quarter sales guidance.
Most sectors on the S&P 500 closed on a positive note, with energy, health care and communication services stocks recording the biggest gains on Monday.
However, real estate and utilities stocks closed the session lower.
The Dow Jones closed lower by around 61 points to 53,975.98 on Monday.
The S&P 500 fell 0.06% to 7,753.11, while the Nasdaq Composite declined 0.32% to 26,605.36 during Monday’s session.
Investors are awaiting earnings results from Super Micro Computer Inc. (NASDAQ: SMCI ), Cardinal Health Inc. (NYSE: CAH ) and Aramark (NYSE: ARMK ) today.
What is CNN Business Fear & Greed Index? At a current reading of 64.43, the index remained in the “Greed” zone on Monday, versus a prior reading of 64.37.
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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