S&P 500 Edges Higher: Investor Fear Eases Slightly, Greed Index Remains In 'Fear' Zone

The CNN Money Fear and Greed index showed some easing in the overall fear level, while the index remained in the “Fear” zone on Tuesday.

U.S. stocks settled slightly higher on Tuesday, with the S&P 500 gaining around 0.1% during the session.

All major indices recorded losses last week, with the S&P 500 falling 1.4% and the Dow declining 1.2%. The Nasdaq notched a weekly loss of 2.1%.

In earnings, Medtronic PLC (NYSE:MDT) posted better-than-expected earnings for the third quarter. Shares of Orion SA (NYSE:OEC) fell around 19% on Tuesday following fourth-quarter results.

On the economic data front, the NY Empire State Manufacturing Index declined to 7.1 in February compared to 7.7 in the previous month, and versus market estimates of 7.

Most sectors on the S&P 500 closed on a negative note, with consumer staples, energy and materials stocks recording the biggest losses on Tuesday. However, real estate and financial stocks bucked the overall market trend, closing the session higher.

The Dow Jones closed higher by around 32 points to 49,533.19 on Tuesday. The S&P 500 rose 0.10% to 6,843.22, while the Nasdaq Composite rose 0.14% at 22,578.38 during Tuesday's session.

Investors are awaiting earnings results from Analog Devices Inc. (NASDAQ:ADI), Global Payments Inc. (NYSE:GPN) and DoorDash Inc. (NASDAQ:DASH) today.

What Is CNN Business Fear & Greed Index?

At a current reading of 37.3, the index remained in the “Fear” zone on Tuesday, versus a prior reading of 36.1.

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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