Investor Optimism Improves Slightly Following JPMorgan's Purchase Of First Republic's Assets

Author: Lisa Levin | May 02, 2023 02:19am

The CNN Money Fear and Greed index showed slight increase in overall sentiment among U.S. investors.

U.S. stocks closed slightly lower after the FDIC confirmed First Republic Bank’s (NYSE:FRC) deposits and assets will be sold to JPMorgan Chase & Co. (NYSE:JPM).

The SPDR S&P Regional Bank ETF (NYSE:KRE) fell on Monday, falling around 2% during the session.

The Dow Jones closed lower by around 46 points to 34,051.70 on Monday. The S&P 500 fell 0.04% at 4,167.87, while the Nasdaq Composite fell 0.11% to settle at 12,212.60 during the session.

Investors are awaiting earnings results from Marriott International, Inc. (NASDAQ:MAR), Ford Motor Company (NYSE:F) and Pfizer Inc. (NYSE:PFE) today.

At a current reading of 61.0, the index remained in the "Greed" zone, versus a previous reading of 60.0

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.

Read Next: Top 4 Tech Stocks That May Fall Off A Cliff

Posted In: F FRC JPM KRE MAR PFE