The CNN Money Fear and Greed index showed slight easing in the market sentiment despite US stocks recording gains on Thursday.
The S&P 500 closed higher in the previous session, ending its longest losing streak since October.
Data released Thursday showed a modest rise in jobless claims, with continuing claims reaching their highest level since February.
Markets are expecting the Federal Reserve to announce a 50 basis point rate increase at next week’s policy meeting.
Shares of GameStop Corp. GME jumped more than 11% on Thursday following the company’s Q3 financial results.
The Dow gained around 184 points to close at 33,781.48 on Thursday. The S&P 500 rose 0.75% to 3,963.51, while the Nasdaq Composite jumped 1.13% to settle at 11,082.00 in the previous session.
Johnson Outdoors Inc. JOUT and Li Auto Inc. LI are set to report quarterly earnings today.
At a current reading of 57.0, the index remained in the “Greed” zone, compared to a previous reading of 58.0.
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.
Read More: S&P 500 Snaps Longest Losing Streak Since October But Investor Sentiment Eases – Johnson