The CNN Money Fear and Greed index showed further improvement in the overall market sentiment as the S&P 500 notched its best week since June.
Data released Thursday showed further decline in the annual inflation level, which increased prospects that the US Federal Reserve would slow its monetary-policy tightening campaign.
Cryptocurrencies dropped sharply last week after FTX filed for bankruptcy protection.
All the major indices recorded a winning week, with the Dow gaining 4.1% last week, while the Nasdaq Composite jumped 8.1%.
The Dow gained 0.10% to close at 33,747.86 on Friday. The S&P 500 climbed 0.92% to 3,992.93, while the Nasdaq Composite climbed 1.88% to settle at 11,323.33 in the previous session.
Tyson Foods, Inc. TSN, AECOM ACM and DENTSPLY SIRONA Inc. XRAY are set to report quarterly earnings today.
At a current reading of 66.0, the index remained in the “Greed” zone, compared to a previous reading of 63.0.
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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