The CNN Money Fear and Greed index remained in the “Greed” zone after US stocks closed mixed on Friday.
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The Dow gained more than 100 points on Friday but closed the week down 0.13% for the week, recording losses for the third straight week. The Nasdaq, however, added 0.59% on the week.
Investors assessed the recent economic data, which showed producer prices for final demand rising 0.7% month-over-month in January, the most in seven months and also above market estimates of 0.4%.
Shares of DoorDash Inc (NYSE: DASH) dropped around 7.5% on Friday despite the company reported better-than-expected Q4 revenue and announced a $750 million buyback program.
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The Dow closed higher by around 130 points to 33,826.69 on Friday. The S&P 500 fell 0.28% to 4,079.09, while the Nasdaq Composite dipped 0.58% to settle at 11,787.27 during the session.
Investors are awaiting earnings results from Expeditors International of Washington, Inc. (NASDAQ: EXPD), The Home Depot, Inc. (NYSE: HD), Walmart Inc (NYSE: WMT) and Coinbase Global Inc (NASDAQ: COIN) today.
At a current reading of 69.0, the index remained in the “Greed” zone, compared to a previous reading of 69.0.
What is CNN Business Fear & Greed Index?
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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.
