The CNN Money Fear and Greed index showed some easing in overall fear, while it remained in the “Fear” zone on Monday.
U.S. stocks settled mixed on Monday, with the Dow Jones index falling more than 50 points during the session amid escalating tensions in the Middle East.
During a press briefing at the White House, President Donald Trump defended "Operation Epic Fury" as a decisive campaign to dismantle Iran’s military and nuclear capabilities, signaling a four- to five-week timeline but warning the U.S. is prepared to stay engaged longer if necessary.
The Nasdaq fell more than 3% in February, recording its weakest monthly performance since last March. The S&P 500, meanwhile, fell almost 1% last month, while the Dow rose around 0.2%.
In earnings, Sealed Air Corp. (NYSE:SEE) reported better-than-expected earnings for the fourth quarter. Astrana Health Inc. (NASDAQ:ASTH) shares jumped over 29% on Monday following upbeat quarterly earnings.
On the economic data front, the ISM manufacturing PMI fell to 52.4 in February from 52.6 in the previous month, but topped market estimates of 51.8. The S&P Global manufacturing PMI declined to 51.6 in February from 53.4 in the prior month, down from market estimates of 52.6.
Most sectors on the S&P 500 closed on a negative note, with consumer staples, consumer discretionary and health care stocks recording the biggest losses on Monday. However, energy and industrials stocks bucked the overall market trend, closing the session higher.
The Dow Jones closed lower by around 73 points, ending at 48,904.78 on Monday. The S&P 500 rose 0.04% to 6,881.62, while the Nasdaq Composite gained 0.36% at 22,748.86 during Monday's session.
Investors are awaiting earnings results from Target Corp. (NYSE:TGT), Best Buy Co. Inc. (NYSE:BBY) and CrowdStrike Holdings Inc. (NASDAQ:CRWD) today.
What Is CNN Business Fear & Greed Index?
At a current reading of 41.6, the index remained in the “Fear” zone on Monday, versus a prior reading of 38.
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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