Nasdaq Jumps Over 400 Points as Crude Oil Falls: Investor Sentiment Improves, 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 Thursday. U.S. stocks settled higher on Thursday, with the Nasdaq Composite gaining more than 400 points during the session following a decline in Treasury yields and crude oil prices. The Federal Reserve, on Wednesday, raised the federal funds target range by 25 basis points to 3.75%-4.00% on Wednesday, marking its first rate increase since 2023. On the economic data front, initial jobless claims fell 10,000 to 196,000, well below the 206,500 consensus and close to July’s 60-year low, while the Philadelphia Fed manufacturing index slowed to 37.8 from 47.4 but comfortably beat the 32.1 estimate. The Technology Select Sector SPDR Fund (NYSE: XLK ) was the clear leader, as semiconductor names extended a rebound from Monday’s AI-safety-driven selloff. Intel Corp. (NASDAQ: INTC ) surged around 8%, while Advanced Micro Devices Inc. (NASDAQ: AMD ) jumped more than 6% on Thursday. Most sectors on the S&P 500 closed on a positive note, with information technology, consumer discretionary and utilities stocks recording the biggest gains on Thursday. Howev
The CNN Money Fear and Greed index showed some improvement in the overall market sentiment, while the index remained in the “Fear” zone on Thursday. S. stocks settled higher on Thursday, with the Nasdaq Composite gaining more than 400 points during the session following a decline in Treasury yields and crude oil prices. 00% on Wednesday, marking its first rate increase since 2023.
1 estimate. The Technology Select Sector SPDR Fund (NYSE: XLK ) was the clear leader, as semiconductor names extended a rebound from Monday’s AI-safety-driven selloff. Intel Corp. (NASDAQ: INTC ) surged around 8%, while Advanced Micro Devices Inc.
(NASDAQ: AMD ) jumped more than 6% on Thursday. Most sectors on the S&P 500 closed on a positive note, with information technology, consumer discretionary and utilities stocks recording the biggest gains on Thursday. However, financial and consumer staples stocks bucked the overall market trend, closing the session lower. 04 on Thursday.
30 during Wednesday’s session. What is CNN Business Fear & Greed Index? At a current reading of 29, the index remained in the “Fear” zone on Thursday, versus a prior reading of 27. 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 via Shutterstock