Dow up about 500 points, but loses for third straight week: Greed index moves into ‘fear’ territory – Bridgeline Digital (NASDAQ:BLIN), Anavex Life Sciences (NASDAQ:AVXL)

The CNN Currency Fear and Greed Index showed an easing in fear levels, with the index entering “fear” territory on Friday.

U.S. stocks closed higher on Friday, with the Dow Jones soaring nearly 500 points.

While the major averages posted gains on Friday, all three indexes fell last week. The Dow Jones Industrial Average fell about 2.3%, recording its third consecutive weekly loss. The S&P 500 fell about 2% last week and the Nasdaq fell about 1.8%.

In terms of economic data, the U.S. personal consumption expenditures price index increased by 0.1% in November from the previous quarter, which was lower than the 0.2% in the previous two months. Market expectations were for 0.2%. The University of Michigan consumer confidence index rose to 74 in December, the highest level since April, compared with November’s reading of 71.8.

Carnival Corporation copper clad laminate Fourth-quarter profit reported on Friday was better than expected.

All sectors in the S&P 500 rose, with utilities, real estate and information technology stocks leading the gains on Friday.

The Dow Jones closed about 498 points higher on Friday at 42,840.26. In trading on Friday, the S&P 500 Index rose 1.09% to 5,930.85 points; the Nasdaq Index rose 1.03% to close at 19,572.60 points.

Investors await earnings results limonella co. LMNR, Bridgeline Digital. Brinand Anavex Life Sciences Corporation. AVXL today.

What is the CNN Business Fear and Greed Index?

The index entered “fear” territory on Friday, currently reading 28.1, compared with the previous reading of 21.9.

The Fear and Greed Index is a measure of current market sentiment. Its premise is that higher fear puts pressure on stock prices, while higher 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 represents maximum greed.

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