Nasdaq Down Over 100 Points as Memory Stocks Decline: Fear & Greed Index Remains in ‘Neutral’ Zone

Benzinga Earnings
5 hours ago

The CNN Money Fear and Greed index showed no change in the overall market sentiment, while the index remained in the “Neutral” zone on Monday.

U.S. stocks settled mixed on Monday, with the Nasdaq Composite falling over 100 points during the session amid higher oil prices.

Memory stocks were also under pressure, with SanDisk Corp. (NASDAQ:SNDK) down 6.0% and SK Hynix Inc. (NASDAQ:SKHY) losing 4%.

All three major indices recorded gains last week, with the Nasdaq gaining 0.6% and the Dow adding 0.9%. The S&P 500, meanwhile, gained about 1.2% during the week.

President Donald Trump said Monday that Russia and Ukraine had agreed to an "energy ceasefire" with immediate effect, a claim Moscow has not confirmed. Ukrainian President Volodymyr Zelenskyy said he learned of the deal from the media and that Russia struck a thermal power plant in Kharkiv.

Most sectors on the S&P 500 closed on a positive note, with energy, consumer staples and communication services stocks recording the biggest gains on Monday. However, information technology and consumer discretionary stocks bucked the overall market trend, closing the session lower.

The Dow Jones closed higher by around 196 points to 51,850.55 on Monday. The S&P 500 fell 0.06% to 7,807.24, while the Nasdaq Composite fell 0.44% to 27,245.90 during Monday’s session.

Investors are awaiting earnings results from JPMorgan Chase & Co. (NYSE:JPM), The Goldman Sachs Group Inc. (NYSE:GS) and Citigroup Inc. (NYSE:C) today.

What is CNN Business Fear & Greed Index?

At a current reading of 46, the index remained in the “Neutral” zone on Monday, versus a prior reading of 46.

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.

Photo courtesy: Shutterstock

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