The CNN Money Fear and Greed index showed a decline in the overall market sentiment, while the index remained in the “Neutral” zone on Wednesday.
U.S. stocks settled lower on Wednesday after the Federal Reserve left interest rates unchanged at its recent policy meeting.
NVIDIA Corporation (NASDAQ:NVDA) shares fell over 4% on Wednesday amid reports indicating Trump officials have discussed further curbing China sales.
General Dynamics Corp. (NYSE:GD) reported better-than-expected fourth-quarter fiscal 2024 results. Corning Inc. (NYSE:GLW) posted better-than-expected fourth-quarter financial results and also issued first-quarter core EPS guidance with a midpoint above estimates.
On the economic data front, the U.S. trade deficit in goods increased to a record $122.11 billion in December versus a revised $103.5 billion gap in the prior month. U.S. wholesale inventories declined by 0.5% month-over-month to $898 billion in December following a revised 0.1% fall in the previous month and versus market estimates of a 0.2% gain.
Most sectors on the S&P 500 closed on a negative note, with information technology, real estate, and healthcare stocks recording losses on Wednesday. However, consumer staples and communication services stocks bucked the overall market trend, closing the session higher.
The Dow Jones closed lower by around 137 points to 44,713.52 on Wednesday. The S&P 500 fell 0.47% to 6,039.31, while the Nasdaq Composite fell 0.51% at 19,632.32 during Wednesday's session.
Investors are awaiting earnings results from Apple Inc. (NASDAQ:AAPL), United Parcel Service Inc. (NYSE:UPS), and Caterpillar Inc. (NYSE:CAT) today.
What is CNN Business Fear & Greed Index?
At a current reading of 45.6, the index remained in the “Neutral” zone on Wednesday, versus a prior reading of 47.3.
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.
Read Next:
Photo courtesy: Shutterstock
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.