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The CNN Money Fear and Greed index showed a decline in the overall market sentiment, while the index remained in the “Greed” zone on Friday.
U.S. stocks settled lower on Friday, with the Dow Jones index falling more than 700 points during the session following Israel’s surprise airstrike on Iranian nuclear sites.
Shares of RH (NYSE:RH) gained around 7% on Friday after the company reported better-than-expected first-quarter adjusted EPS results and announced it is maintaining its current FY25 guidance despite tariff and macroeconomic event uncertainty.
On the economic front, the University of Michigan’s consumer sentiment index increased to 60.5 in June from 52.2 in the previous two months, and also topped market estimates of 53.5.
Most sectors on the S&P 500 closed on a negative note, with financial, information technology and materials stocks recording the biggest losses on Friday. However, energy stocks bucked the overall market trend, closing the session higher.
The Dow Jones closed lower by around 770 points to 42,197.79 on Friday. The S&P 500 fell 1.13% to 5,976.97, while the Nasdaq Composite dipped 1.30% to 19,406.83 during Friday's session.
Investors are awaiting earnings results from ReNew Energy Global Plc (NASDAQ:RNW), Lennar Corp. (NYSE:LEN) and Digital Turbine Inc. (NASDAQ:APPS) today.
What is CNN Business Fear & Greed Index?
At a current reading of 59.9, the index remained in the “Greed” zone on Friday, versus a prior reading of 60.1.
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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