Benzinga - The CNN Money Fear and Greed index showed slight improvement in the overall sentiment among US investors.
The Nasdaq recorded gains for three sessions in a row as investors digested the recent retail sales data. US retail sales rose 3% month-over-month in January, recording the biggest growth since March 2021 and above market expectations for a 1.8% increase.
On the earnings front, Airbnb, Inc. (NASDAQ: ABNB) shares jumped over 13% on Wednesday after the company reported Q4 financial results and issued Q1 revenue guidance above estimates.
The Dow closed higher by around 39 points to 34,128.05 on Wednesday. The S&P 500 rose 0.28% to 4,147.60, while the Nasdaq Composite climbed 0.92% to settle at 12,070.59 during the session.
Investors are awaiting earnings results from US Foods Holding Corp. (NYSE: USFD),
Applied Materials, Inc. (NASDAQ: AMAT) and The Southern Company (NYSE: SO) today.
At a current reading of 74.0, the index remained in the "Greed" zone, compared to a previous reading of 73.0.
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.
Read Next: Check Out 3 High-Yielding Dividend Stocks In Tech & Telecom Sector From Wall Street's Most Accurate Analysts
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.