CNN Money's fear and greed index remained in the “greed” area on Tuesday.
American actions closed down on Tuesday, and the Dow Jones index fell more than 600 points during the session. Nvidia Corporation. NVDA falling more than 9.5% on Tuesday.
Wall Street closed last month on a positive note. The S&P 500 gained 2.3% during August, posting its fourth consecutive month of gains. The Dow rose about 1.8%, while the Nasdaq Composite posted a gain of 0.7% during the period.
Actions of Grupo Spar, Inc.. SGRP It rose more than 65% on Tuesday after the company announced that it signed a definitive agreement to be acquired by Highwire Capital for $ 2.50 per share.
In economic data, the S&P Global Manufacturing PMI was revised down to 47.9 in August from a preliminary reading of 48. The ISM Manufacturing PMI rose to 47.2 in August from 46.8 in the previous month, below market estimates of 47.5.
Most of the S&P 500 sectors closed with a negative note, and energy values, information technology and communication services recorded the greatest losses on Tuesday.
On Tuesday, the Dow Jones closed down around 626 points to 40,936.93. The S&P 500 fell 2.12% to 5,528.93, while the Nasdaq Composite fell 3.26% to 17,136.30.
Investors are waiting for earnings results from Dollar Tree, Inc.. DLTR, Sports articles by Dick's, Inc.. DKSand Company Hewlett Packard Enterprise Energy Efficiency today.
What is the CNN Corporate Fear and Greed Index?
With a current reading of 65.3, the index remained in the “greed” zone on Tuesday, compared with a previous reading of 63.
The Fear and Greed Index is a measure of current market sentiment. It is based on the premise that increased fear puts pressure on stock prices, while increased greed has the opposite effect. The index is calculated based on seven equally weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 indicates maximum greed.
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