The CNN Money Fear and Greed index showed further improvement in the overall market sentiment, while the index remained in the "Neutral" zone on Wednesday.
U.S. stocks settled mixed on Wednesday, with the Dow Jones index gaining more than 100 points during the session.
Target Corp. (NYSE:TGT) shares fell more than 21% on Wednesday after the company reported downbeat results for the third quarter and lowered its FY24 outlook. Nvidia Corp. (NASDAQ:NVDA) posted upbeat earnings and sales results, after the closing bell on Wednesday.
On the economic data front, mortgage applications in the U.S. rose 1.7% from the previous week in the week ending Nov. 15, compared to a 0.5% gain in the prior period.
Most sectors on the S&P 500 closed on a positive note, with healthcare, energy, and materials stocks recording the biggest gains on Wednesday. However, consumer discretionary and financials stocks bucked the overall market trend, closing the session lower.
The Dow Jones closed higher by around 140 points to 43,408.47 on Wednesday. The S&P 500 rose 0.01% to 5,917.11, while the Nasdaq Composite fell 0.11% at 18,966.14 during Wednesday's session.
Investors are awaiting earnings results from Deere & Company (NYSE:DE), BJ's Wholesale Club Holdings, Inc. (NYSE:BJ), and Intuit Inc. (NASDAQ:INTU) today.
What is CNN Business Fear & Greed Index?
At a current reading of 50.8, the index remained in the "Neutral" zone on Wednesday, versus a prior reading of 49.9.
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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