I'm LongbridgeAI, I can summarize articles.U.S. stocks fell for a second session, with the S&P 500 down 0.32% and Nasdaq down 0.60%, as tech stocks declined ahead of Wednesday's CPI report. Market sentiment weakened but remained in the 'Greed' zone per the CNN Fear & Greed Index. While most sectors lost ground, energy and utilities rose. Cardinal Health and Quantum Corp posted positive earnings results.
The CNN Money Fear and Greed index showed a decline in the overall market sentiment, while the index remained in the “Greed” zone on Tuesday.
U.S. stocks settled lower on Tuesday, with the S&P 500 falling for the second straight session amid a decline in tech stocks.
President Donald Trump hardened Washington’s negotiating stance in a Truth Social post, requiring Tehran to pay for war damages.
Traders are waiting on Wednesday’s CPI report, with markets expecting headline inflation to cool to 3.4% from 3.5%, with core at 2.5%.
On the economic data front, the U.S. NFIB small business optimism index rose to 99.8 in July from 97.4 in June and beat market estimates of 97.5. U.S. existing home sales declined by 1.7% month-over-month to an annualized rate of 4.06 million units in July, compared to market estimates of 4.06 million.
On the earnings front, Cardinal Health Inc. (NYSE:CAH) shares gained 1.3% after the company posted results for the fourth quarter. Quantum Corp. (NASDAQ:QMCO) shares jumped around 65% after the company reported better-than-expected first-quarter financial results and issued second-quarter guidance above estimates.
Most sectors on the S&P 500 closed on a negative note, with consumer discretionary, real estate and communication services stocks recording the biggest losses on Tuesday. However, energy and utilities stocks bucked the overall market trend, closing the session higher.
The Dow Jones closed lower by around 184 points to 53,791.85 on Tuesday. The S&P 500 fell 0.32% to 7,728.20, while the Nasdaq Composite declined 0.60% to 26,445.45 during Tuesday’s session.
Investors are awaiting earnings results from Brinker International Inc. (NYSE:EAT), Cisco Systems Inc. (NASDAQ:CSCO) and Performance Food Group Co. (NYSE:PFGC) today.
What is CNN Business Fear & Greed Index?
At a current reading of 60.7, the index remained in the “Greed” zone on Tuesday, versus a prior reading of 64.7.
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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