Nasdaq Rises 1% As Tech Stocks Rebound: Investor Sentiment Improves, Greed Index Remains In ‘Fear’ Zone – Advanced Micro Devices (NASDAQ:AMD)
The CNN Money Fear and Greed index showed some easing in the overall fear level, while the index remained in the “Fear” zone on Tuesday.
U.S. stocks settled higher on Tuesday, with the Nasdaq Composite gaining around 1% during the session.
On the economic data front, the FHFA house price index rose 0.1% in December compared to a revised 0.7% gain in November. The S&P Cotality Case-Shiller home price index increased 1.4% year-over-year in December, matching the previous month’s pace.
Most sectors on the S&P 500 closed on a positive note, with consumer discretionary, information technology and industrials stocks recording the biggest gains on Tuesday. However, energy and health care stocks bucked the overall market trend, closing the session lower.
The Dow Jones closed higher by around 370 points to 49,174.50 on Tuesday. The S&P 500 rose 0.77% to 6,890.07, while the Nasdaq Composite gained 1.04% at 22,863.68 during Tuesday’s session.
What Is CNN Business Fear & Greed Index?
At a current reading of 42.7, the index remained in the “Fear” zone on Tuesday, versus a prior reading of 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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