The CNN Money Fear and Greed index indicated a positive shift in market sentiment towards "Greed" on Wednesday, reflecting an overall improvement in investor confidence. This was further reinforced by the rise in U.S. stock prices, with the Dow Jones index reaching an all-time high above 45,000 points for the first time.
Shares of companies like Salesforce Inc. and Marvell Technology Inc. experienced significant surges in their stock prices following better-than-expected earnings reports. The economic data for November showed a mixed picture, with U.S. private businesses adding fewer workers to their payrolls compared to the previous month, while U.S. factory orders and the ISM services PMI displayed varying results.
Despite the overall positive market sentiment, most sectors on the S&P 500 closed lower, with energy, materials, and financial stocks facing losses, while consumer discretionary and information technology sectors outperformed, closing higher. The session ended with the Dow Jones rising by approximately 309 points, the S&P 500 gaining 0.61%, and the Nasdaq Composite climbing by 1.30%.
Investors are looking forward to earnings results from companies like Dollar General Corporation, Kroger Co., and Lululemon Athletica Inc., which could further impact market movements. The Fear & Greed Index, standing at 57.1, reflects the current market sentiment in the "Greed" zone, highlighting the balancing act between fear and greed as key drivers of stock price movements.