Investor optimism wanes after US stocks fall

The CNN Money Fear and Greed Index showed some easing in general market sentiment among US investors after Wall Street closed down slightly on Thursday.

US stocks rallied from lows earlier in the session, with shares of Cisco Systems, Inc. CSCO jumping around 5% on Thursday.

The Dow fell 0.02% to close at 33,546.32 on Thursday. The S&P 500 fell 0.31% to 3,946.56, while the Nasdaq Composite fell 0.35% to 11,144.96 in the previous session.

Foot Locker, Inc. FL, The Buckle, Inc BKE and Spectrum Brands Holdings Inc SPB are expected to release their quarterly results today.

At a current reading of 63.0, the index remained in the "Greed" zone, compared to a previous reading of 66.0.

What is the CNN Business Fear & Greed Index?

The Fear & Greed Index is a measure of current market sentiment. It is based on the premise that higher fear puts pressure on stock prices, while higher greed has the opposite effect. The index is calculated on the basis of seven equally weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greed.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.