US Stocks Rise For Second-Straight Session, Investor Fear Eases
US stocks closed higher for a second straight session on Thursday, with the Dow Jones adding more than 100 points.
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On the economic data front, US initial jobless claims increased by 7,000 from the prior week to 198,000 in the week ending March 25, compared to market expectations of 196,000. The US economy grew by an annualized 2.6% on quarter during the final three months of 2022, compared to initial estimates of a 2.7% growth.
The Dow closed higher by around 141 points to 32,859.03 on Thursday. The S&P 500 rose 0.57% to 4,050.83, while the Nasdaq Composite added 0.73% to settle at 12,013.47 during the session.
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Investors are awaiting earnings results from The Carlyle Group Inc. (NASDAQ: CG), MSP Recovery, Inc. (NASDAQ: MIFW) and P3 Health Partners Inc. (NASDAQ: PIII) today.
At a current reading of 44.0, the index remained in the “Fear” zone., versus a previous reading of 40.0
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What is CNN Business Fear & Greed Index?
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.
