The U.S. stock markets remained in the “neutral” zone on Tuesday, according to the CNN Money Fear and Greed index.
Wall Street closed mixed on Friday after a New York Federal Reserve survey showed U.S. consumers’ expectations declining sharply in July.
The U.S. economy, on the other hand, added higher-than-expected jobs for the month of July, with the unemployment rate also declining from 3.6% to 3.5%, returning to its pre-COVID pandemic level.
Investors are now awaiting the release of consumer prices data due on Wednesday, with analysts expecting a further increase in inflation level.
Shares of BioNTech SE – ADR BNTX dropped around 7.5% on Monday after reporting weaker-than-expected quarterly results.
The Dow Jones climbed around 29 points to close at 32,832.54 on Monday. The S&P 500 lost 0.12%, while the Nasdaq Composite fell 0.10% in the previous session.
At a current reading of 50.0, the index remained unchanged from the previous day’s reading, remaining in the “neutral” zone on Tuesday.
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.
Image and article originally from www.benzinga.com. Read the original article here.