S&P 500 Closes At Record High Ahead Of Inflation Data: Fear & Greed Index Remains In 'Neutral' Zone
The CNN Money Fear and Greed index showed a slight decline in the overall market sentiment, while the index remained in the “Neutral” zone on Monday.
U.S. stocks closed mixed on Monday, with the S&P 500 closing at a record high during the session.
All three major indices closed higher last week, with the Nasdaq Composite jumping 3.5%, and the S&P 500 adding around 2%. The Dow, meanwhile, added around 0.7% last week.
Data on consumer price index for June will be released on Thursday, while producer price index data will be released on Friday.
Eli Lilly And Co (NYSE:LLY) agreed to acquire Morphic Holding Inc (NASDAQ:MORF) for $57 per share in cash, an aggregate of approximately $3.2 billion.
Most sectors on the S&P 500 closed on a negative note, with communication services, consumer staples, and energy stocks recording the biggest losses on Monday. However, information technology and materials stocks bucked the overall market trend, closing the session higher.
The Dow Jones closed lower by around 31 points to 39,344.79 on Monday. The S&P 500 rose 0.10% at 5,572.85, while the Nasdaq Composite climbed 0.28% at 18,403.74 during Monday's session.
Investors are awaiting earnings results from Helen of Troy Limited (NASDAQ:HELE), SMART Global Holdings, Inc. (NASDAQ:SGH) and Kura Sushi USA, Inc. (NASDAQ:KRUS) today.
PepsiCo (NASDAQ:PEP) and Delta Air Lines (NYSE:DAL) will release earnings results on Thursday, while Citigroup (NYSE:C) and JPMorgan Chase (NYSE:JPM) are scheduled to report second-quarter earnings on Friday.
What is CNN Business Fear & Greed Index?
At a current reading of 52.69, the index remained in the “Neutral” zone on Monday, versus a prior reading of 52.74.
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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