S&P 500 Settles At Record High, Investor Sentiment Improves, Fear Index Moves To 'Greed' Zone

The CNN Money Fear and Greed index showed an improvement in the overall market sentiment, while the index moved to the “Greed” zone on Monday.

U.S. stocks settled mostly higher on Monday, with the Nasdaq Composite gaining more than 150 points during the session. The S&P 500 and Nasdaq Composite also settled at record highs on Monday.

All three major indices recorded gains last week, with the S&P 500 gaining around 1.1% while the 30-stock Dow also jumped 1.1%.

Advanced Micro Devices Inc. (NASDAQ:AMD) shares jumped around 24% on Monday after the company announced a multi-year partnership with OpenAI to deploy 6 Gigawatts of AMD GPUs. Also, the company issued OpenAI a warrant for up to 160 million shares of its stock.

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

The Dow Jones closed lower by around 63 points to 46,694.97 on Monday. The S&P 500 rose 0.36% to 6,740.28, while the Nasdaq Composite jumped 0.71% to 22,941.67 during Monday’s session.

Investors are awaiting earnings results from McCormick & Company Inc. (NYSE:MKC) and Penguin Solutions Inc. (NASDAQ:PENG) today.

What is CNN Business Fear & Greed Index?

At a current reading of 56.7, the index moved to the “Greed” zone on Monday, versus a prior reading of 53.7.

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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