The CNN Cash Concern and Greed index remained within the “Greed” zone on Tuesday.
U.S. shares settled decrease on Tuesday, with the S&P 500 and Nasdaq snapping five-session successful streaks.
Shares of Tesla, Inc. TSLA, which have surged round 31% since Election Day, declined about 6.2% on Tuesday. Trump Media & Know-how Group Corp. DJT shares additionally dipped round 9% throughout the session. Dwelling Depot Inc. HD reported better-than-expected third-quarter earnings and lifted its full-year 2024 outlook.
On the financial knowledge entrance, U.S. shopper inflation expectations for the yr forward eased to 2.9% in October in comparison with 3% in every of the prior 4 months. The RealClearMarkets/TIPP Financial Optimism Index rose 13.4% in November to a studying of 53.2, recording the best studying in over three years.
Most sectors on the S&P 500 closed on a unfavourable observe, with supplies, well being care, and actual property shares recording the most important losses on Tuesday. Nonetheless, data know-how and communication companies shares bucked the general market pattern, closing the session larger.
The Dow Jones closed decrease by round 382 factors to 43,910.98 on Tuesday. The S&P 500 fell 0.29% to five,983.99, whereas the Nasdaq Composite fell 0.09% to shut at 19,281.40 throughout Tuesday’s session.
Traders are awaiting earnings outcomes from CyberArk Software program Ltd. CYBR, Cisco Methods, Inc. CSCO, and Beazer Houses USA, Inc. BZH immediately.
What’s CNN Enterprise Concern & Greed Index?
At a present studying of 68.7, the index remained within the “Greed” zone on Tuesday, versus a previous studying of 68.6.
The Concern & Greed Index is a measure of the present market sentiment. It’s based mostly on the premise that larger worry 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 worry and 100 alerts most greediness.
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