The CNN Money Fear and Greed index showed further improvement in the overall market sentiment, while the index remained in the “Neutral” zone on Thursday.
U.S. stocks settled higher on Thursday, with the S&P 500 closing at a new record high level during the session as investors shrugged off government shutdown concerns.
Nvidia Corp. (NASDAQ:NVDA) rose around 1% on Thursday, pushing its market capitalization to a record $4.6 trillion as the stock extended its winning streak to a sixth consecutive session.
Advanced Micro Devices Inc. (NASDAQ:AMD) surged 3.5% after reports from Semafor suggested Intel Corp. (NASDAQ:INTC) may add AMD as a foundry customer. Intel advanced 2.2%, on track for its highest close since April 2024.
On the economic front, U.S.-based employers announced 54,064 job cuts for September, down from 85,979 in August.
Most sectors on the S&P 500 closed on a negative note, with energy, consumer discretionary and real estate stocks recording the biggest losses on Thursday. However, materials and information technology stocks bucked the overall market trend, closing the session higher.
The Dow Jones closed higher by around 79 points to 46,519.72 on Thursday. The S&P 500 rose 0.06% to 6,715.35, while the Nasdaq Composite gained 0.39% to 22,844.05 during Thursday’s session.
What is CNN Business Fear & Greed Index?
At a current reading of 50.9, the index remained in the “Neutral” zone on Thursday, versus a prior reading of 50.3.
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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