PrintDow Tumbles Over 150 Points Ahead Of Fed Meeting: Investor Fear Eases, Greed Index Remains In 'Fear' Zone
BY Benzinga | ECONOMIC | 02:04 AM ESTThe CNN Money Fear and Greed index showed some easing in the overall fear level, while the index remained in the “Fear” zone on Tuesday.
U.S. stocks settled mixed on Tuesday, with the Dow Jones index falling over 150 points during the session ahead of the interest-rate decision by the Federal Reserve.
The CME FedWatch tool showed a 90% chance of a 25-basis-point cut at the Dec. 10 meeting, while Polymarket odds were even firmer at 95%, signaling broad conviction that the Fed is about to begin easing.
On the earnings front, AutoZone Inc.
On the economic data front, job openings jumped to 7.67 million in October, topping expectations and easing concerns that the U.S. labor market is cooling too quickly.
Most sectors on the S&P 500 closed on a positive note, with energy, information technology and consumer staples stocks recording the biggest gains on Tuesday. However, health care and industrials stocks bucked the overall market trend, closing the session lower.
The Dow Jones closed lower by around 179 points to 47,560.29 on Tuesday. The S&P 500 declined 0.09% to 6,840.51, while the Nasdaq Composite rose 0.13% to 23,576.49 during Tuesday's session.
Investors are awaiting earnings results from Chewy Inc.
What Is CNN Business Fear & Greed Index?
At a current reading of 32.2, the index remained in the “Fear” zone on Tuesday, versus a prior reading of 31.2.
The Fear & Greed Index is a measure of the current market sentiment. It is based on the premise that greater fear exerts downward pressure on stock prices, while greater 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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