Investor Fear Eases On Upbeat Corporate Earnings

Although the CNN Money Fear and Greed index showed US equity markets remained in the “fear” zone on Wednesday, but it saw some significant easing in the overall fear level amid a sharp rise on the Wall Street.

U.S. stocks settled sharply higher on Tuesday as strong earnings results from more companies offering some relief to investors concerned about increased inflation level and aggressive monetary tightening by Federal Reserve.

Netflix, Inc. NFLX posted better-than-expected earnings for its second quarter, while Johnson & Johnson JNJ also exceeded market estimates.

The tech-heavy Nasdaq Composite jumped 3.1%, recording the biggest single-day percentage rise since June 24.

U.S. stock futures are also trading slightly higher this morning, with investors awaiting earnings results from Abbott Laboratories ABT and Tesla, Inc. TSLA.

The Dow Jones jumped 754.44 points to close at 31,827.05. The S&P 500 and the Nasdaq Composite also added 2.76% and 3.11%, respectively on Tuesday.

At a current reading of 36.0, the index remained in the “fear” zone on Wednesday, following a previous reading of 30.0.



Image and article originally from www.benzinga.com. Read the original article here.