Benzinga - The CNN Money Fear and Greed index showed some easing in the fear level among US investors on Thursday.
The Dow Jones snapped a five-day losing streak following Credit Suisse's (NYSE: CS) announcement of a loan from the Swiss National Bank. First Republic Bank (NYSE: FRC) also announced a deal for $30 billion in deposits from major banks
Traders also assessed economic reports which showed US initial jobless claims dropping by 20,000 from the prior week to 192,000 in the week ending March 11, compared to market expectations of 205,000. US export prices climbed by 0.2% from a month ago in February, while import prices declined 0.1%.
The Dow closed higher by around 372 points to 32,246.55 on Thursday. The S&P 500 rose 1.76% to 3,960.28, while the Nasdaq Composite added 2.48% to settle at 11,717.28 during the session.
Investors are awaiting earnings results from Algonquin Power & Utilities Corp. (NYSE: AQN) and XPeng Inc. (NYSE: XPEV) today.
At a current reading of 29.0, the index moved to the "Fear" zone, compared to a previous reading of 19.0.
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.
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