The CNN Cash Worry and Greed index confirmed some enchancment within the total market sentiment, whereas the index remained within the “Greed” zone on Wednesday.
U.S. shares settled largely decrease on Wednesday, with the Dow Jones index falling round 300 factors throughout the session.
Shares of Sew Repair, Inc. SFIX dipped greater than 39% on Wednesday after the corporate reported worse-than-expected fourth-quarter EPS outcomes.
On the financial knowledge entrance, U.S. constructing permits elevated by 4.6% to an annual price of 1.470 million in August. Gross sales of recent single-family homes within the U.S. fell by 4.7% from the prior month to an annualized price of 716,000 in August of 2024, in comparison with a revised 10.3% achieve within the prior month.
Most sectors on the S&P 500 closed on a unfavourable observe, with vitality, well being care, and financials shares recording the largest losses on Wednesday. Nevertheless, data expertise and utilities shares bucked the general market pattern, closing the session larger.
The Dow Jones closed decrease by round 293 factors to 41,914.75 on Wednesday. The S&P 500 fell 0.19% to five,722.26, whereas the Nasdaq Composite gained 0.04% at 18,082.21 throughout Wednesday’s session.
Traders are awaiting earnings outcomes from Accenture plc ACN, Jabil Inc. JBL, and Costco Wholesale Company COST at present.
What’s CNN Enterprise Worry & Greed Index?
At a present studying of 67, the index remained within the “Greed” zone on Wednesday, versus a previous studying of 66.5.
The Worry & Greed Index is a measure of the present market sentiment. It’s based mostly on the premise that larger concern exerts stress on inventory costs, whereas larger greed has the alternative impact. The index is calculated based mostly on seven equal-weighted indicators. The index ranges from 0 to 100, the place 0 represents most concern and 100 alerts most greediness.
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