The CNN Money Fear and Greed Index moved into “neutral” territory on Tuesday following a decline in US stocks.
The Dow Jones plunged more than 300 points on Tuesday after a weak forecast. Home Depot, Inc. HD,
Shares of Home Depot fell about 2.2% on Tuesday after the company reported a decline in first-quarter revenue and lowered FY23 guidance.
US retail sales rose 0.4% month-over-month in April after declining for two straight months, but fell short of market expectations for a 0.8% increase.
On Tuesday, the Dow Jones closed down 336 points at 33,012.14. The S&P 500 fell 0.64% to 4,109.90 during the session, while the Nasdaq Composite lost 0.18% to 12,343.05.
Investors await earnings results target corporation TGT, The TJX Companies, Inc. tjx And Cisco Systems, Inc. csco Today.
At the current reading of 55.0, the index remained in the “neutral” zone, compared to the previous reading of 59.0.
What is the CNN Business Fear and Greed Index?
The Fear and Greed Index is a measure of the current market sentiment. This is on the grounds that high fear tends to put pressure on stock prices, while high 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 indicates maximum greed.