The CNN Money Fear and Greed index showed some improvement in overall sentiment among U.S. investors on Thursday.
The S&P 500 and Nasdaq recorded gains on Thursday following strong quarterly results from NVIDIA Corporation (NASDAQ:NVDA).
NVIDIA shares jumped over 24% on Thursday after the company reported better-than-expected first-quarter results and issued strong guidance.
The VanEck Semiconductor ETF jumped 8.6% to settle at its strongest level in the year.
The Dow Jones closed lower by around 35 points to 32,764.65 on Thursday. The S&P 500 rose 0.88% at 4,151.28, while the Nasdaq Composite climbed 1.71% to settle at 12,698.09 during the session.
Investors are awaiting earnings results from Big Lots, Inc. (NYSE:BIG), Booz Allen Hamilton Holding Corporation (NYSE:BAH) and Hibbett, Inc. (NASDAQ:HIBB) today.
At a current reading of 63.0, the index remained in the "Greed" zone, versus a previous reading of 61.0
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.
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