CNN’s Cash Worry and Greed Index confirmed an enchancment in total market sentiment, with the index shifting into the “impartial” zone on Wednesday.
U.S. shares rose on Wednesday earlier than settling, with the Nasdaq Composite index up greater than 1% in the course of the session, led by positive factors in mega-cap tech and AI shares. Software program shares prolonged their rebound for the second straight session, making the group the top-performing trade.
By way of financial knowledge, the variety of US mortgage purposes within the third week of February elevated by 0.4% from the earlier week, in contrast with a 2.8% enhance within the earlier quarter.
Most sectors of the S&P 500 led to adverse territory on Wednesday, with client staples, actual property and industrial shares recording the largest losses. Nonetheless, IT shares and monetary shares closed greater.
The Dow Jones closed Wednesday at 49,482.15, up about 308 factors. Throughout Wednesday’s buying and selling, the S&P 500 index rose 0.81% to six,946.13 and the Nasdaq Composite Index rose 1.26% to 23,152.08.
What’s the CNN Enterprise Worry & Greed Index?
The present studying is 46, and the index moved into the “impartial” zone on Wednesday, whereas the earlier studying was 43.3.
The Worry & Greed Index is a measure of present market sentiment. That is based mostly on the premise that elevated worry places stress on inventory costs, whereas elevated greed has the alternative impact. This index is calculated based mostly on seven equally weighted indicators. The index ranges from 0 to 100, with 0 representing most worry and 100 representing most greed.
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