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PrintDow Jumps 700 Points Following Inflation Data: Greed Index Remains In 'Fear' Zone
BY Benzinga | ECONOMIC | 04:07 AM ESTThe CNN Money Fear and Greed index remained in the “Fear” zone on Wednesday.
U.S. stocks settled higher on Wednesday, with all three major indices recording their best day since Nov. 6.
On the economic data front, the headline Consumer Price Index rose 2.9% year-over-year in December, up from November’s 2.7%, matching economist forecasts. On a monthly basis, headline inflation increased 0.4%, accelerating from the 0.3% surge in November and marking the largest monthly rise since March 2024.
JPMorgan Chase & Co.
Most sectors on the S&P 500 closed on a positive note, with consumer discretionary, communication services, and financials stocks recording gains on Wednesday. However, consumer staples stocks bucked the overall market trend, closing the session slightly lower.
The Dow Jones closed higher by around 703 points to 43,221.55 on Wednesday. The S&P 500 rose 1.83% to 5,949.91, while the Nasdaq Composite climbed 2.45% at 19,511.23 during Tuesday's session.
Investors are awaiting earnings results from Bank of America Corporation
What is CNN Business Fear & Greed Index?
At a current reading of 29.11, the index remained in the “Fear” zone on Wednesday, versus a prior reading of 29.14.
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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