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The CNN Money Fear and Greed index showed slight easing in the overall market sentiment after the S&P 500 index dropped for a fifth session.
US markets wavered between gains and losses in volatile trading session on Wednesday amid recession concerns.
Markets are expecting the Federal Reserve to announce a 50 basis point rate increase at next week’s policy meeting.
The Dow gained 1.58 points to close at 33,597.92 on Wednesday. The S&P 500 fell 0.19% to 3,933.92, while the Nasdaq Composite fell 0.51% to settle at 10,958.55 in the previous session.
Ciena Corporation CIEN, Costco Wholesale Corporation COST, Broadcom Inc. AVGO and Lululemon Athletica Inc. LULU are set to report quarterly earnings today.
At a current reading of 58.0, the index remained in the “Greed” zone, compared to a previous reading of 59.0.
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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Image and article originally from www.benzinga.com. Read the original article here.