The CNN Money Fear and Greed index showed some improvement in the overall market sentiment, while the index remained in the “Fear” zone on Tuesday.
U.S. stocks settled higher on Tuesday, with the Dow Jones index gaining more than 100 points during the session despite escalating geopolitical tensions and trade uncertainties between the world's two largest economies.
China responded to President Donald Trump‘s 10% import tariff with targeted countermeasures, including restrictions on key mineral exports to the U.S. and tariffs on American energy products.
Spotify Technology S.A. (NYSE:SPOT) shares gained more than 13% on Tuesday after the company reported better-than-expected fiscal fourth-quarter 2024 financial results. Shares of Palantir Technologies Inc. (NASDAQ:PLTR) jumped 24% after the company reported better-than-expected financial results for the fourth quarter.
On the economic data front, U.S. job openings declined by 556,000 to 7.6 million in December, compared to market estimates of 8.0 million. U.S. factory orders fell by 0.9% from the previous month to $578.5 billion in December, compared to a revised 0.8% decline in the previous month.
Most sectors on the S&P 500 closed on a positive note, with energy, information technology, and communication services stocks recording gains on Tuesday. However, utilities and consumer staples stocks bucked the overall market trend, closing the session lower.
The Dow Jones closed higher by around 134 points to 44,556.04 on Tuesday. The S&P 500 rose 0.72% to 6,037.88, while the Nasdaq Composite climbed 1.35% at 19,654.02 during Tuesday's session.
Investors are awaiting earnings results from The Walt Disney Co. (NYSE:DIS), Uber Technologies Inc. (NYSE:UBER), and Ford Motor Co. (NYSE:F) today.
What is CNN Business Fear & Greed Index?
At a current reading of 39, the index remained in the “Fear” zone on Tuesday, versus a prior reading of 36.7.
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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