The CNN Money Fear and Greed index showed a slight decline in the overall market sentiment, but the index remained in the "Neutral" zone on Monday.
U.S. stocks settled mixed on Monday, while the Dow Jones index settled at a record high level during the session.
The Nasdaq Composite tumbled over 150 points, with Nvidia Corp. (NASDAQ:NVDA) shares down around 2.3% ahead of quarterly earnings due Wednesday. Other chip stocks, including, Broadcom Inc. (NASDAQ:AVGO) and Micron Technology, Inc. (NASDAQ:MU) also settled lower during the session.
Daqo New Energy Corp. (NYSE:DQ) reported worse-than-expected second-quarter financial results on Monday. Shares of PDD Holdings Inc. (NASDAQ:PDD) dipped 28.5% after the company announced downbeat quarterly sales.
On the economic data front, U.S. new orders for manufactured durable goods gained 9.9% from the prior month in July, compared to a revised 6.9% plunge in the prior period.
Most sectors on the S&P 500 closed on a negative note, with consumer discretionary, information technology, and industrials stocks recording the biggest losses on Monday. However, energy and consumer staples stocks bucked the overall market trend, closing the session higher.
The Dow Jones closed higher by around 65 points to 41,240.52 on Monday. The S&P 500 fell 0.32% to 5,616.84, while the Nasdaq Composite dipped 0.85% to close at 17,725.77 during Monday's session.
Investors are awaiting earnings results from ScanSource, Inc. (NASDAQ:SCSC), PVH Corp. (NYSE:PVH), and Nordstrom, Inc. (NYSE:JWN) today.
What is CNN Business Fear & Greed Index?
At a current reading of 54, the index remained in the "Neutral" zone on Monday, versus a prior reading of 54.8.
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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