I'm LongbridgeAI, I can summarize articles.The S&P 500 hit a new record high as U.S. stocks rallied on cooler-than-expected PPI data, boosting investor sentiment. The CNN Fear & Greed Index rose to 66, remaining in the 'Greed' zone. While most sectors gained, Cisco shares fell over 8% after earnings, and Sandisk surged 14%. The Dow Jones also closed higher.
The CNN Money Fear and Greed Index showed further improvement in overall market sentiment, while the index remained in the “Greed” zone on Thursday.
U.S. stocks settled higher on Thursday, with the S&P 500 closing at a new record high following the release of PPI data.
Headline producer prices were flat in July against expectations for a 0.2% rise, and core PPI also undershot, echoing Wednesday’s cooler consumer inflation report that showed the annual rate easing to 3.4%. Initial jobless claims rose to 209,000 for the week ended Aug. 8, up 9,000 from the prior week.
Sandisk Corp. (NASDAQ:SNDK) soared around 14% on Thursday after unveiling a new optimistic roadmap in its investor day.
On the earnings front, shares of Cisco Systems Inc. (NASDAQ:CSCO) fell over 8% on Thursday after the company reported financial results for the fourth quarter of fiscal 2026.
Most sectors on the S&P 500 closed on a positive note, with information technology, real estate and communication services stocks recording the biggest gains on Thursday. However, energy and materials stocks bucked the overall market trend, closing the session lower.
The Dow Jones closed higher by around 70 points to 53,839.99 on Thursday. The S&P 500 rose 0.65% to 7,798.99, while the Nasdaq Composite climbed 0.81% at 26,803.03 during Thursday’s session.
Investors are awaiting earnings results from Suncrete, Inc (NASDAQ:RMIX), Bally’s Corp. (NYSE:BALY) and Outlook Therapeutics Inc. (NASDAQ:OTLK) today.
What is CNN Business Fear & Greed Index?
At a current reading of 66, the index remained in the “Greed” zone on Thursday, versus a prior reading of 63.
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.
Photo via Shutterstock