The CNN Money Fear and Greed index showed a decline in overall market sentiment, while the index remained in the "Fear" zone on Wednesday.
U.S. stocks settled mostly higher on Wednesday, with the Dow Jones index gaining more than 100 points during the session.
Minutes from the Federal Reserve's December meeting released on Wednesday show officials are uncertain about the path of future rate cuts, as President-elect Donald Trump's policies and how they could affect inflation remain unknown.
Acuity Brands Inc. (NYSE:AYI) reported weaker-than-expected revenue for its fiscal first quarter.
On the economic data front, U.S. private businesses added 122,000 workers to their payrolls in December down from 146,000 in November and versus expectations of 140,000. U.S. initial jobless claims fell by 10,000 to 201,000 in the week ending Jan. 4, recording the lowest level in eleven months and versus market estimates of 218,000.
Most sectors on the S&P 500 closed on a positive note, with consumer staples, health care, and materials stocks recording the biggest gains on Wednesday. However, energy and communication services stocks bucked the overall market trend, closing the session lower.
The Dow Jones closed higher by around 107 points to 42,635.20 on Wednesday. The S&P 500 rose 0.16% to 5,918.25, while the Nasdaq Composite fell 0.06% at 19,478.88 during Wednesday's session.
Investors are awaiting earnings results from Walgreens Boots Alliance Inc. (NASDAQ:WBA), Constellation Brands Inc. (NYSE:STZ), and Delta Air Lines Inc. (NYSE:DAL) today.
What is CNN Business Fear & Greed Index?
At a current reading of 32.4, the index remained in the "Fear" zone on Wednesday, versus a prior reading of 35.8.
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.
- How To Earn $500 A Month From Synovus Financial Stock Ahead Of Q4 Earnings
Photo courtesy: Shutterstock
