Home / Business and Economy / Market Sentiment Improves: Fear & Greed Index Hits Neutral
Market Sentiment Improves: Fear & Greed Index Hits Neutral
16 Jul
Summary
- Producer prices dropped in June, easing inflation concerns.
- The Fear & Greed Index improved but remains in neutral territory.
- Major stock indices closed higher following positive economic data.
The CNN Business Fear & Greed Index registered an improvement in market sentiment, settling in the "Neutral" zone on Wednesday. This development accompanied a general rise in U.S. stocks, with the Dow Jones index climbing approximately 150 points. The positive market movement was influenced by economic data, notably the producer price index (PPI).
Headline PPI for June experienced a 0.3% decrease, while the annual rate cooled to 5.5%. Core PPI also saw a smaller-than-anticipated increase. This data reinforced Tuesday's consumer price index (CPI) report, diminishing expectations of an imminent Federal Reserve rate hike.
On Wednesday, the S&P 500 increased by 0.38%, and the Nasdaq Composite rose by 0.62%. Most sectors within the S&P 500 concluded the session positively, led by consumer discretionary, financial, and communication services. Conversely, utilities and energy stocks ended the day lower, bucking the broader market's upward trend.
