The CNN Money Fear and Greed index showed a decline in the overall market sentiment, while the index moved to the “Neutral” zone on Tuesday.
U.S. stocks settled lower on Tuesday, with the Dow Jones index dipping around 300 points during the session as geopolitical fears surged following an Axios News report that President Donald Trump will meet with his national security team in the White House Situation Room to decide U.S. policy regarding the escalating war between Israel and Iran.
Jabil Inc. (NYSE:JBL) reported better-than-expected third-quarter results. CERo Therapeutics Holdings Inc. (NASDAQ:CERO) shares jumped 189% on Tuesday after the company received FDA Orphan Drug Designation for CER-1236 for the treatment of acute myeloid leukemia.
On the economic front, U.S. retail sales fell 0.9% month-over-month in May compared to a revised 0.1% decline in April and versus market estimates of a 0.7% fall. U.S. import prices came in unchanged from the previous month in May, while export prices declined 0.9% month-over-month in May. U.S. industrial production declined 0.2% in May, versus market estimates of a 0.1% gain.
Most sectors on the S&P 500 closed on a negative note, with health care, materials and consumer discretionary stocks recording the biggest losses on Tuesday. However, energy stocks bucked the overall market trend, closing the session higher.
The Dow Jones closed lower by over 299 points to 42,215.80 on Tuesday. The S&P 500 dipped 0.84% to 5,982.72, while the Nasdaq Composite declined 0.91% to 19,521.09 during Tuesday’s session.
Investors are awaiting earnings results from Korn Ferry (NYSE:KFY), GMS Inc. (NYSE:GMS) and Euroseas Ltd. (NASDAQ:ESEA) today.
What is CNN Business Fear & Greed Index?
At a current reading of 53.9, the index moved to the “Neutral” zone on Tuesday, versus a prior reading of 61.5.
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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