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S&P 500 Notches Fresh Record as Market Sentiment Stays Firmly in Greed Territory

MarketDash Editorial Team
7 hours ago
U.S. stocks climbed Wednesday ahead of the Christmas holiday, with the Dow gaining 289 points and the S&P 500 hitting new highs. The Fear and Greed Index ticked up to 58.7, signaling continued investor optimism.

Markets wrapped up Wednesday's abbreviated trading session on a high note, with the S&P 500 punching through to fresh records and the Dow tacking on nearly 290 points. Investors seemed content to head into the Christmas break with portfolios looking pretty healthy.

The CNN Money Fear and Greed Index captured the mood perfectly, climbing to 58.7 from Tuesday's 57.7 reading and staying firmly planted in "Greed" zone. That's not surprising given the rally we've seen, but it does suggest investors aren't exactly rushing for the exits right now.

The New York Stock Exchange closed early at 1 p.m. ET on Wednesday and remained shuttered Thursday for Christmas Day, giving traders a long weekend to digest recent gains.

Some individual movers caught attention during the shortened session. Nike (NKE) shares got a boost after Apple Inc. (AAPL) CEO Tim Cook disclosed he'd purchased 50,000 shares at $58.97 each. Meanwhile, Micron Technology Inc. (MU) climbed around 4%, extending its post-earnings rally to an impressive 27% over the past five sessions.

Economic data provided some holiday cheer as well. U.S. initial jobless claims dropped by 10,000 from the previous week to 214,000 in the week ending December 20, coming in better than the 223,000 analysts had expected. That suggests the labor market remains reasonably healthy heading into year-end.

Most sectors on the S&P 500 finished in the green, with consumer staples, real estate, and utilities stocks posting the biggest gains. Energy stocks bucked the trend, closing lower as the broader market climbed.

Final numbers: The Dow Jones rose 289 points to 48,731.16. The S&P 500 gained 0.32% to 6,932.05, while the Nasdaq Composite added 0.22% to finish at 23,613.31.

Understanding the Fear and Greed Index

The Fear and Greed Index measures current market sentiment based on the idea that excessive fear drives stock prices down, while excessive greed pushes them higher. The index crunches seven equal-weighted indicators into a single reading that ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness. At 58.7, Wednesday's reading suggests investors are feeling optimistic without quite reaching euphoria levels.

Back to Stock Market News

S&P 500 Notches Fresh Record as Market Sentiment Stays Firmly in Greed Territory

MarketDash Editorial Team
7 hours ago
U.S. stocks climbed Wednesday ahead of the Christmas holiday, with the Dow gaining 289 points and the S&P 500 hitting new highs. The Fear and Greed Index ticked up to 58.7, signaling continued investor optimism.

Markets wrapped up Wednesday's abbreviated trading session on a high note, with the S&P 500 punching through to fresh records and the Dow tacking on nearly 290 points. Investors seemed content to head into the Christmas break with portfolios looking pretty healthy.

The CNN Money Fear and Greed Index captured the mood perfectly, climbing to 58.7 from Tuesday's 57.7 reading and staying firmly planted in "Greed" zone. That's not surprising given the rally we've seen, but it does suggest investors aren't exactly rushing for the exits right now.

The New York Stock Exchange closed early at 1 p.m. ET on Wednesday and remained shuttered Thursday for Christmas Day, giving traders a long weekend to digest recent gains.

Some individual movers caught attention during the shortened session. Nike (NKE) shares got a boost after Apple Inc. (AAPL) CEO Tim Cook disclosed he'd purchased 50,000 shares at $58.97 each. Meanwhile, Micron Technology Inc. (MU) climbed around 4%, extending its post-earnings rally to an impressive 27% over the past five sessions.

Economic data provided some holiday cheer as well. U.S. initial jobless claims dropped by 10,000 from the previous week to 214,000 in the week ending December 20, coming in better than the 223,000 analysts had expected. That suggests the labor market remains reasonably healthy heading into year-end.

Most sectors on the S&P 500 finished in the green, with consumer staples, real estate, and utilities stocks posting the biggest gains. Energy stocks bucked the trend, closing lower as the broader market climbed.

Final numbers: The Dow Jones rose 289 points to 48,731.16. The S&P 500 gained 0.32% to 6,932.05, while the Nasdaq Composite added 0.22% to finish at 23,613.31.

Understanding the Fear and Greed Index

The Fear and Greed Index measures current market sentiment based on the idea that excessive fear drives stock prices down, while excessive greed pushes them higher. The index crunches seven equal-weighted indicators into a single reading that ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness. At 58.7, Wednesday's reading suggests investors are feeling optimistic without quite reaching euphoria levels.