The CNN Money Fear and Greed Index showed a decrease in the general market sentiment, while the index remained in the “Greed” zone on Friday.
US shares settled lower on Friday, with the Nasdaq composite falling more than 1% during the session. However, all important indices have registered profits for August.
The 30-Stock Dow won more than 3% in August, while the S&P 500 registered around 2% increase. The tech-heavy Nasdaq also won around 1.6% during the month.
On Economic Front, the price index of the personal consumption expenditure – the broad degree of inflation of the FED – increased 2.6% of a year earlier in July, in accordance with the expectations of Wall Street. The personal income of the US increased by 0.4% month-over-month to $ 25,905 trillion in July, while personal expenses rose by 0.5% to $ 20,802 trillion.
Alibaba Group Holding Baba Shares jumped around 13% on Friday after the release of his tax results of the first quarter, because the e-commerce giant co-founder of Jack Ma reported income that exceeded the expectations of the analysis. Marvell Technology Inc. MRVL Shares fell by 19% after the company had issued the sales guidelines of the third quarter with a centerpiece among the estimates.
Most sectors on the S&P 500 closed on a positive note, with health care, real estate and consumer stocks that register the biggest profit on Friday. However, information technology and discretionary shares of consumers have covered the total market trend, so that the session was closed lower.
The Dow Jones closed on Friday with around 92 points to 45,544.88. The S&P 500 fell 0.64% to 6,460.26, while the Nasdaq composite fell 1.15% at 21,455.55 during the Friday session.
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What is CNN Business Fear & Greed Index?
For a current reading of 64, the index remained on Friday in the “Greed” zone, versus an earlier reading of 65.7.
The Fear & Greed Index is a measure of the current market sentiment. It is based on the starting point that higher fear applies pressure on stock prices, while higher greed has the opposite effect. The index is calculated on the basis of seven equal weighted indicators. The index varies from 0 to 100, whereby 0 maximum fear represents and 100 signals maximum greed.
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