Benzinga - by Lisa Levin, Benzinga Editor. The CNN Money Fear and Greed index showed some improvement in overall sentiment among U.S. investors on Monday.
The Nasdaq Composite closed higher on Monday, snapping a four-session losing streak during the session. The benchmark 10-year Treasury note yield surged to its highest level since Nov. 2007.
Palo Alto Networks, Inc. (NASDAQ: PANW) shares gained 14.8% on Monday after the company announced first-quarter and full-year EPS guidance above analyst estimates.
NVIDIA Corporation (NASDAQ: NVDA) shares climbed 8.5% after KeyBanc and HSBC analysts raised their price targets on the stock ahead of the company's upcoming earnings report.
Federal Reserve chair Jerome Powell is scheduled to speak at the Jackson Hole Symposium on Friday.
Major sectors on the S&P 500 closed on a mixed note, with information technology and consumer discretionary stocks recording the biggest gains on Monday. However, real estate, consumer staples and energy stocks closed lower during the Monday’s session.
The Dow Jones closed lower by over 37 points to 34,463.69 on Monday. The S&P 500 rose 0.69% at 4,399.77, while the Nasdaq Composite added 1.56% at 13,497.59 during the session.
Investors are awaiting earnings results from Lowe's Companies, Inc. (NYSE: LOW), Dick's Sporting Goods, Inc. (NYSE: DKS) and Macy's, Inc. (NYSE: M) today.
At a current reading of 46.0, the index remained in the "Neutral" zone on Monday, compared to a previous reading of 45.0 on Friday.
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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