The CNN Money Fear and Greed index remained in the “neutral” zone on Monday amid a sharp decline in the US stocks on Friday.
U.S. Treasury yields rose, as the benchmark 10-year note surged to around 3%, after Germany recorded a record-high surge in monthly producer prices.
All the three major indices fell last week, with the S&P 500 and the Nasdaq recording their first weekly declines following gains for four weeks. The Dow Jones, meanwhile, fell around 0.2% for the week.
The Dow fell 0.86% points to close at 33,706.74 on Friday. The S&P 500 fell 1.29%, while the Nasdaq Composite dipped 2.01% to settle at 12,705.21 in the previous session.
Shares of Bed Bath & Beyond Inc. BBBY dropped more than 40% on Friday after an amended 13D filing showed Ryan Cohen has a 0% stake in the company.
Investors are now awaiting earnings results from Palo Alto Networks, Inc. PANW and Zoom Video Communications, Inc. ZM, scheduled for release today.
At a current reading of 51.0, the index remained in the “neutral” zone on Monday, following a previous reading of 54.0.
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.
Image and article originally from www.benzinga.com. Read the original article here.