The CNN Money Fear and Greed index showed an improvement in the overall market sentiment, while the index remained in the "Neutral" zone on Monday.
U.S. stocks settled higher on Monday, with the Dow Jones index gaining more than 200 points during the session. Major indices recorded gains last week, with the S&P 500 gaining 4% and the Nasdaq adding 5.9%. The Dow also climbed 2.6% last week.
Apple Inc. (NASDAQ:AAPL) shares fell 2.8% on Monday following reports suggesting that the company is experiencing lower-than-expected demand for the iPhone 16 series. Shares of Nvidia Corp. (NASDAQ:NVDA) fell around 2% during the session.
The Fed is scheduled to meet Tuesday and Wednesday and is widely expected to cut interest rates.
On the economic data front, the NY Empire State Manufacturing Index rose to 11.5 in September, recording the highest level since April 2022, versus -4.7 in August and market estimates of -3.9.
Most sectors on the S&P 500 closed on a positive note, with communication financials, energy, and materials 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 228 points to 41,622.08 on Monday. The S&P 500 rose 0.13% to 5,633.09, while the Nasdaq Composite fell 0.52% at 17,592.13 during Monday's session.
Investors are awaiting earnings results from Ferguson Enterprises Inc. (NYSE:FERG) today.
What is CNN Business Fear & Greed Index?
At a current reading of 50.7, the index remained in the "Neutral" zone on Monday, versus a prior reading of 47.5.
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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