February 13, 2023

Investor Optimism Declines As Dow Records Weekly Loss

The CNN Money Fear and Greed index showed slight decline in the overall sentiment among US investors.

© Provided by Benzinga

The Dow Jones recorded gains on Friday, but still ended the week down 0.17%. Investors digested recent economic data and earnings reports.

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Lyft, Inc. (NASDAQ: LYFT) shares dipped over 36% on Friday after the company issued Q1 revenue guidance below analyst estimates.

The Dow closed higher by around 169 points to 33,869.27 on Friday. The S&P 500 rose 0.22% to 4,090.46, while the Nasdaq Composite dropped 0.61% to settle at 11,718.12 in the session.

Investors are awaiting earnings results from TreeHouse Foods, Inc. (NYSE: THS),

Avis Budget Group, Inc. (NASDAQ: CAR) and Arista Networks, Inc. (NYSE: ANET) today.

At a current reading of 70.0, the index remained in the “Greed” zone, compared to a previous reading of 72.0.

What is CNN Business Fear & Greed Index?

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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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© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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This article Investor Optimism Declines As Dow Records Weekly Loss originally appeared on Benzinga.com

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