The CNN Money Fear and Greed index remained in the “Fear” zone.
US stocks settled higher on Monday amid hopes that the banking sector crisis may be easing.
Shares of regional banks moved higher on Monday, after recording big losses in the previous week. The SPDR Regional Banking ETF added over 1% after falling 14% in the previous week.
The Dow closed higher by around 383 points to 32,244.58 on Monday. The S&P 500 rose 0.89% to 3,951.57, while the Nasdaq Composite added 0.39% to settle at 11,675.54 during the session.
Investors are awaiting earnings results from Tencent Music Entertainment Group TME, NIKE, Inc. NKE and GameStop Corp. GME today.
At a current reading of 32.0, the index remained in the “Fear” zone.
What is CNN Business Fear & Greed Index?
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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Image and article originally from www.benzinga.com. Read the original article here.