The CNN Money Fear and Greed index showed a decline in the overall market sentiment, while the index remained in the “Extreme Greed” zone on Thursday.
U.S. stocks settled mixed on Thursday, with the Dow Jones index falling more than 300 points during the session.
Alphabet Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL) reported better-than-expected second-quarter financial results and increased its investment in capital expenditures in 2025. Tesla Inc. (NASDAQ:TSLA) reported weaker-than-expected second-quarter financial results after the market closed Wednesday.
On the economic data front, the S&P Global manufacturing PMI declined to 49.5 in July, down from market estimates of 52.6. U.S. initial jobless claims declined by 4,000 from the previous week to 217,000 in the third week of July, compared to market estimates of 227,000.
Most sectors on the S&P 500 closed on a negative note, with health care, materials and consumer discretionary stocks recording the biggest losses on Thursday. However, energy and information technology stocks bucked the overall market trend, closing the session higher.
The Dow Jones closed lower by 316 points to 44,693.91 on Thursday. The S&P 500 gained 0.07% to 6,363.35, while the Nasdaq Composite gained 0.18% to 21,057.96 during Thursday’s session.
Investors are awaiting earnings results from Charter Communications Inc. (NASDAQ:CHTR), Centene Corp. (NYSE:CNC) and Phillips 66 (NYSE:PSX) today.
What is CNN Business Fear & Greed Index?
At a current reading of 75, the index remained in the “Extreme Greed” zone on Thursday, versus a prior reading of 76.6.
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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