Nasdaq Closes At Record High Led By Microsoft And Apple: Fear & Greed Index In 'Neutral' Zone
The CNN Money Fear and Greed index showed some improvement in the overall market sentiment, while the index remained in the “Neutral” zone on Monday.
U.S. stocks recorded gains on Monday, with the Nasdaq Composite settling at a record level during the session. Shares of Microsoft Corp. (NASDAQ:MSFT) gained 2.2%, while Apple Inc. (NASDAQ:AAPL) gained around 2.9% on Monday.
The technology-heavy Nasdaq jumped 18.1% in the first half of the year, while the S&P 500 surged 14.5%.
Most sectors on the S&P 500 closed on a negative note, with materials, industrials, and real estate stocks recording the biggest losses on Monday. However, information technology and consumer discretionary stocks bucked the overall market trend, closing the session higher.
The Dow Jones closed higher by over 50 points to 39,169.52 on Monday. The S&P 500 rose 0.27% at 5,475.09, while the Nasdaq Composite climbed 0.83% at 17,879.30 during Monday's session.
Investors are awaiting earnings results from MSC Industrial Direct Co., Inc. (NYSE:MSM), Radius Recycling, Inc. (NASDAQ:RDUS), and Simulations Plus, Inc. (NASDAQ:SLP) today.
What is CNN Business Fear & Greed Index?
At a current reading of 48.1, the index remained in the “Neutral” zone on Monday, versus a prior reading of 48.
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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