Investor Optimism Improves Following Economic Reports

Author: Lisa Levin | September 15, 2023 01:57am

The CNN Money Fear and Greed index showed an improvement in overall sentiment among U.S. investors on Thursday.

U.S. stocks closed higher on Thursday, with the Dow Jones gaining the most in over a month.

ARM Holdings plc (NASDAQ:ARM) shares jumped over 24% on Thursday on its U.S. stock market debut after its highly anticipated Nvidia Corp (NASDAQ:NVDA) acquisition fell prey to regulatory opposition.

On the economic data front, producer prices in the U.S. rose by 0.7% in August 2023, higher than market expectations for a 0.4% increase. Retail sales in the U.S. rose 0.6% month-over-month in August following a revised 0.5% increase in July. U.S. initial jobless claims rose by 3,000 to 220,000 in the week ending Sept. 9, versus market estimates of 225,000.

All the major sectors on the S&P 500 closed on a positive note, with real estate, utilities and materials stocks recording the biggest gains on Thursday.

The Dow Jones closed higher by around 332 points to 34,907.11 on Thursday. The S&P 500 rose 0.84% at 4,505.10, while the Nasdaq Composite added 0.81% at 13,926.05 during the session.

Investors are awaiting earnings results from LightInTheBox Holding Co., Ltd. (NYSE:LITB) today.

At a current reading of 54.6, the index remained in the "Neutral" zone on Thursday, compared to a previous reading of 51.8.

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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Posted In: ARM LITB NVDA