The CNN Money Fear and Greed index showed an improvement in the overall market sentiment, while the index remained in the “Neutral” zone on Tuesday.
U.S. stocks settled higher on Tuesday, with the Nasdaq Composite gaining around 0.3% during the session. The Dow Jones also surged to a new closing high.
Meanwhile, U.S. stock futures fell this morning, following Congress’s failure to pass the funding bill, which resulted in a government shutdown.
Major indices recorded gains last month, with the S&P 500 gaining more than 3% in September, and the Dow adding almost 2%. The Nasdaq jumped 5.6% in September
On the economic front, U.S. job openings rose by 19,000 to 7.227 million in August, from a revised 7.208 million reading in the previous month. The Chicago Business Barometer declined to 40.6 in September from 41.5 in the previous month, compared to market expectations of 43. The S&P CoreLogic Case-Shiller Home Price Index increased 1.8% year-over-year in July.
Most sectors on the S&P 500 closed on a positive note, with information technology, health care and industrials stocks recording the biggest gains on Tuesday. However, energy and consumer discretionary stocks bucked the overall market trend, closing the session lower.
The Dow Jones closed higher by around 82 points to 46,397.89 on Tuesday. The S&P 500 rose 0.41% to 6,688.46, while the Nasdaq Composite gained 0.30% to 22,660.01 during Tuesday’s session.
Investors are awaiting earnings results from Conagra Brands Inc. (NYSE:CAG), RPM International Inc. (NYSE:RPM) and Acuity Inc. (NYSE:AYI) today.
What is CNN Business Fear & Greed Index?
At a current reading of 52.7, the index remained in the “Neutral” zone on Tuesday, versus a prior reading of 51.3.
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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