S&P 500 Gains For 5th Session: Investor Fear Eases, But Greed Index Remains In 'Fear' Zone

The CNN Money Fear and Greed index some easing in the overall fear level, while the index remained in the “Fear” zone on Monday.

U.S. stocks settled mostly higher on Monday, with the S&P 500 recording gains for the fifth straight session. Major indices also recorded gains last week, with the S&P 500 adding 4.6% and the Nasdaq jumping 6.7%. The Dow also notched a weekly gain of 2.5%.

Roper Technologies, Inc ROP reported better-than-expected earnings for its first quarter and raised its forecast. Domino’s Pizza, Inc. DPZ reported stronger-than-expected earnings for its first quarter on Monday.

On the economic data front, the Dallas Fed’s general business activity index for Texas manufacturing dipped 19.5 points to a reading of -35.8 in April.

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

The Dow Jones closed higher by around 114 points to 40,227.59 on Monday. The S&P 500 gained 0.06% to 5,528.75, while the Nasdaq Composite fell 0.10% at 17,366.13 during Monday’s session.

Investors are awaiting earnings results from General Motors Company GM, The Coca-Cola Company KO and Starbucks Corporation SBUX today.

At a current reading of 36.3, the index remained in the “Fear” zone on Monday, versus a prior reading of 35.4.

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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