CNN Fear & Greed Index falls to 27 as U.S. stocks edge higher

  • CNN Money’s Fear & Greed Index remained in the Fear zone on Thursday.
  • 27 was the index reading, down from 30 previously.
  • U.S. stocks finished higher, led by a 0.19% gain in the S&P 500.

The CNN Money Fear & Greed Index declined to 27 from 30 on Thursday, remaining in the Fear zone even as U.S. stocks finished slightly higher. The Dow Jones rose about 20 points to 50,926.60, the S&P 500 added 0.19% to 7,666.45 and the Nasdaq Composite gained 0.04% to 26,871.60. The 10-year Treasury yield fell five basis points to 5.24% by midday after briefly reaching 5.34%, its highest level since April 2002. Micron Technology shares rose 3% after the company reported fiscal fourth-quarter revenue above $54 billion and forecast first-quarter revenue of $61.5 billion. Accenture surged about 16% after reporting adjusted fiscal fourth-quarter earnings per share of $3.29, exceeding the $3.18 consensus, with revenue of $18.68 billion versus the $18.03 billion estimate. The ISM manufacturing PMI slipped to 54.5 in September from 54.6 in August, while construction spending rose 0.9% month over month to an annual rate of $2,203 billion in August. Initial jobless claims fell by 1,000 to 197,000 in the week ended Sept. 26, below the 200,000 market estimate. Health care, communication services and real estate were the weakest S&P 500 sectors, while energy and industrials advanced. The Fear & Greed Index gauges market sentiment through seven equally weighted indicators on a 0-to-100 scale, with 0 representing maximum fear and 100 maximum greed.

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