Nasdaq Down 100 Points As Nvidia Shares Fall: Investor Sentiment Improves, But Greed Index Remains In ‘Fear’ Zone
Avi Kapoor 1 day ago
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Market sentiment improved but stayed in Fear; U.S. stocks fell as Nvidia and Super Micro slid, while jobless claims rose.
The CNN Money Fear and Greed index showed some improvement in the overall market sentiment, while the index remained in the “Fear” zone on Thursday.
U.S. stocks settled lower on Thursday, with the Nasdaq Composite falling around 100 points during the session as Nvidia Corp. (NASDAQ:NVDA) shares fell following the resignation of CEO Jensen Huang.
Super Micro Computer Inc. (NASDAQ:SMCI) fell over 11% after Semafor reported Justice Department probes involving the server maker, Singapore-based Megaspeed and Nvidia.
On the earnings front, Legence Corp. (NASDAQ:LGN) reported better-than-expected third-quarter financial results and issued fourth-quarter sales guidance above estimates. Shares of Intuitive Machines, Inc. (NASDAQ:LUNR) gained 7% on Thursday after the company reported better-than-expected third-quarter financial results and narrowed its FY26 sales guidance with its midpoint above estimates.
On the economic data front, U.S. initial jobless claims increased by 9,000 to 200,000 in the week ending Nov. 7, compared to market estimates of 195,000.
Most sectors on the S&P 500 closed on a negative note, with materials, industrials and financial stocks recording the biggest losses on Thursday. However, energy and communication services stocks bucked the overall market trend, closing the session higher.
The Dow Jones closed lower by around 189 points to 52,297.09 on Thursday. The S&P 500 fell 0.35% to 7,592.40, while the Nasdaq Composite dipped 0.39% at 25,366.09 during Thursday’s session.
Investors are awaiting earnings results from Mizuho Financial Group Inc (NYSE:MFG), Sumitomo Mitsui Financial Grp, Inc (NYSE:SMFG) and Mitsubishi UFJ Financial Group Inc (NYSE:MUFG) today.
At a current reading of 40, the index remained in the “Fear” zone on Thursday, versus a prior reading of 36.
What is CNN Business Fear & Greed Index?
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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