The CNN Money Fear and Greed index showed a slight improvement in the overall market sentiment, while the index remained in the “Greed” zone on Monday.
U.S. stocks settled lower on Monday, with the Dow Jones index falling around 200 points during the session ahead of key inflation data. Economists expect both headline and core annual inflation to tick higher to 2.9% and 3%, respectively.
The major indices recorded gains last week, with the Dow surging about 1.4% and the S&P 500 adding 2.4% last week. The Nasdaq recorded a 3.9% surge during the week.
Later in the week, attention will shift to Friday’s high-profile meeting between President Donald Trump and Russian President Vladimir Putin in Alaska.
Monday.com MNDY shares dipped around 30% on Monday after it posted second-quarter results. International Money Express Inc. IMXI shares jumped more than 60% after Western Union announced plans to acquire Intermex for $500 million.
Most sectors on the S&P 500 closed on a negative note, with energy, information technology and real estate stocks recording the biggest losses on Monday. However, consumer staples and consumer discretionary stocks bucked the overall market trend, closing the session higher.
The Dow Jones closed lower by around 200 points to 43,975.09 on Monday. The S&P 500 fell 0.25% to 6,373.45, while the Nasdaq Composite declined 0.30% to 21,385.40 during Monday’s session.
Investors are awaiting earnings results from Cardinal Health Inc. CAH, Sea Ltd SE and H & R Block Inc. HRB today.
What is CNN Business Fear & Greed Index?
At a current reading of 59.6, the index remained in the “Greed” zone on Monday, versus a prior reading of 59.3.
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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