Benzinga - by Avi Kapoor, Benzinga Staff Writer.
The CNN Money Fear and Greed index showed some improvement in overall market sentiment, while the index remained in the “Neutral” zone on Monday.
U.S. stocks settled mixed on Monday, with the Dow Jones index snapping an eight-session winning streak.
U.S. major indices recorded gains last week, with the Dow gaining 2.16% to record its fourth positive week in a row. The S&P 500 gained 1.85%, gaining for the third straight week.
Data on consumer price index will be released on Wednesday, with economists projecting an increase of 0.4% month-over-month in April. The producer price index is scheduled for release on Tuesday.
GameStop Corporation (NYSE:GME) shares jumped over 74% on Monday amid possible retail investor interest following a social media post by Roaring Kitty. Shares of Seritage Growth Properties (NYSE:SRG) dipped more than 27% after the company reported first-quarter financial results and said it is negotiating an agreement for the sale of four assets for gross proceeds of $79.1 million.
Most sectors on the S&P 500 closed on a negative note, with consumer staples, industrials and financial stocks recording the biggest losses on Monday. However, information technology and real estate stocks bucked the overall market trend, closing the session higher.
The Dow Jones closed lower by around 81 points to 39,431.51 on Monday. The S&P 500 fell 0.02% at 5,221.42, while the Nasdaq Composite gained 0.29% at 16,388.24 during Monday's session.
Investors are awaiting earnings results from International Game Technology PLC (NYSE:IGT), Alibaba Group Holding Limited (NYSE:BABA), and The Home Depot, Inc. (NYSE:HD) today.
At a current reading of 49.8, the index remained in the “Neutral” zone on Monday, versus a prior reading of 47.5.
What is CNN Business Fear & Greed Index?
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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