The CNN Money Fear and Greed index showed some decline in the overall market sentiment, while the index remained in the “Neutral” zone on Monday.
U.S. stocks settled higher on Monday, with the Nasdaq Composite gaining more than 100 points during the session.
Nvidia Corp. (NASDAQ:NVDA) shares closed higher by around 2%, while other AI stocks, including Advanced Micro Devices (NASDAQ:AMD) and Micron Technology Inc. (NASDAQ:MU), also recorded gains during the session.
Robinhood Markets Inc. (NASDAQ:HOOD) surged 12% on Monday after CEO Vlad Tenev revealed on social media that more than four billion event contracts have been traded on the platform since their launch.
Major indices, meanwhile, recorded losses last week, with the Nasdaq Composite falling 0.7% and the S&P 500 losing 0.3%. The Dow also fell 0.2% during the week.
On the economic front, U.S. pending home sales surged by 4% from the previous month in August, recording the sharpest gain in five months and compared to a 0.4% decline in the previous month.
Most sectors on the S&P 500 closed on a positive note, with information technology, financial and consumer discretionary stocks recording the biggest gains on Monday. However, energy and communication services stocks bucked the overall market trend, closing the session lower.
The Dow Jones closed higher by around 69 points to 46,316.07 on Monday. The S&P 500 rose 0.26% to 6,661.21, while the Nasdaq Composite gained 0.48% at 22,591.15 during Monday’s session.
Investors are awaiting earnings results from Lamb Weston Holdings Inc. (NYSE:LW), Paychex Inc. (NASDAQ:PAYX) and Nike Inc (NYSE:NKE) today.
What is CNN Business Fear & Greed Index?
At a current reading of 52.4, the index remained in the “Neutral” zone on Monday, versus a prior reading of 53.6.
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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