The CNN Money Fear and Greed index showed some easing in the fear level, while the index remained in the "Fear" zone on Thursday.

U.S. stocks settled mixed on Thursday, with the Dow Jones index closing slightly higher during the session. The market was shut on Wednesday for Christmas Day.

Month to date, the S&P 500 gained 0.1%, while the Nasdaq has surged 4.2%, driven by significant gains in Tesla (NASDAQ:TSLA) and Apple (NASDAQ:AAPL). The blue-chip Dow, however, fell around 3.5% during the month.

On the economic data front, U.S. initial jobless claims fell by 1,000 from the previous week to a reading of 219,000 during the second week of December, compared to market estimates of 224,000.

Most sectors on the S&P 500 closed on a positive note, with healthcare, financial, and real estate stocks recording the biggest gains on Thursday. However, consumer discretionary and communication services stocks bucked the overall market trend, closing the session lower.

The Dow Jones closed higher by around 29 points to 43,325.80 on Thursday. The S&P 500 fell 0.04% to 6,037.59, while the Nasdaq Composite slipped 0.05% at 20,020.36 during Thursday's session.

What is CNN Business Fear & Greed Index?

At a current reading of 35.1, the index remained in the "Fear" zone on Thursday, versus a prior reading of 34.

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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