The CNN Money Fear and Greed Index remained in the “fear” zone, but fear levels eased slightly after a rise in US stocks on Thursday.
Wall Street posted gains in the previous session, driven by financial and healthcare stocks.
Markets teetered between gains and losses in a choppy trade on Thursday as concerns lingered over the Fed’s upcoming steps to tackle rising inflation.
Barclays, Bank of America and Jefferies said they now expect the Fed to hike interest rates by 75 basis points during this month’s meeting.
That dow up 0.61% to close at 31,774.52 on Thursday. That S&P500 rose 0.66% to 4,006.18, while the Nasdaq Composite rose 0.60% to 11,862.13 in the previous session, amid modest gains in shares, including Microsoft Corporation MSFT and Amazon.com, Inc. AMZN.
With a current reading of 42.0, the index remained in “fear” territory after previously reading 40.0.
What is the CNN Business Fear & Greed Index?
The Fear & Greed Index is a measure of current market sentiment. It is based on the premise that higher fear puts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equally weighted indicators. The index ranges from 0 to 100, with 0 representing maximum fear and 100 representing maximum greed.
