The CNN Money Fear and Greed Index showed some reduction in the level of fear among US investors on the last trading day of 2022.
US stocks fell on Friday, recording Wall Street’s worst year since 2008. The Dow fell nearly 9%, while the S&P 500 lost 19.4% last year. The tech-heavy Nasdaq was among the worst performers, falling nearly 33.1% during 2022.
On Friday, the Dow lost nearly 74 points to close at 33,147.25. The S&P 500 closed down 0.25% at 3,839.50, while the Nasdaq Composite shed 0.11% at 10,466.48 in the previous session.
Investors await earnings results Smart Global Holdings, Inc. sgh And Semilead Corporation led today.
At the current reading of 37.0, the index remained in the “Fear” zone as compared to the previous reading of 36.0.
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.
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