The CNN Money Fear and Greed index showed further increase in overall sentiment among U.S. investors on Wednesday.
U.S. stocks closed mixed on Wednesday following recent comments from Federal Reserve Chair Jerome Powell. Powell stated at the ECB Forum on Central Banking that additional interest rate hikes – at least two – are on the way this year.
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The U.S. government is considering semiconductor export limits to China, according to the Wall Street Journal report.
General Mills, Inc. (NYSE: GIS) shares dropped over 5% on Wednesday after the company reported a fourth-quarter revenue miss.
The Dow Jones closed lower by around 74 points to 33,852.66 on Wednesday. The S&P 500 fell 0.04% at 4,376.86, while the Nasdaq Composite surged 0.27% to settle at 13,591.75 during the session.
Investors are awaiting earnings results from McCormick & Company, Incorporated (NYSE: MKC), Acuity Brands, Inc. (NYSE: AYI) and NIKE, Inc. (NYSE: NKE) today.
At a current reading of 77.0, the index remained in the “Extreme Greed” zone, versus a previous reading of 76.0
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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.
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