The CNN Money Fear and Greed index showed a slight decline in the overall market sentiment, while the index remained in the “Extreme Greed” zone on Friday.
U.S. stocks settled lower on Friday, a day after the S&P 500 notched a fresh record high. Wall Street recorded losses last week, with the Dow Jones falling 1% and the S&P down by 0.3%.
President Donald Trump signaled a more aggressive trade stance. Trump last week announced a 35% tariff on Canadian imports starting Aug. 1 and blanket duties of 15% to 20% on most other trading partners.
WD-40 Co. (NASDAQ:WDFC) posted better-than-expected earnings for its third quarter, while sales missed estimates.
Most sectors on the S&P 500 closed on a negative note, with financial, health care and materials stocks recording the biggest losses on Friday. However, energy and consumer discretionary stocks bucked the overall market trend, closing the session higher.
The Dow Jones closed lower by 279 points to 44,371.51 on Friday. The S&P 500 fell 0.33% to 6,259.75, while the Nasdaq Composite slipped 0.22% to 20,585.53 during Friday’s session.
Investors are awaiting earnings results from Fastenal Co. (NASDAQ:FAST), FB Financial Corp. (NYSE:FBK) and Simulations Plus Inc. (NASDAQ:SLP) today.
What is CNN Business Fear & Greed Index?
At a current reading of 75.3, the index remained in the “Extreme Greed” zone on Friday, versus a prior reading of 75.7.
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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