Fear & Greed Index Moves To ‘Extreme Greed’ Zone; S&P 500 Settles Higher
Story by Avi Kapoor
The CNN Money Fear and Greed index showed some easing in overall market sentiment, but the index moved to the “Extreme Greed” zone on Monday.
The S&P 500 closed higher on Monday after recording gains for the seventh straight week.
On the economic data front, the NAHB/Wells Fargo Housing Market Index in the U.S. rose to 37 in December from 34 in the prior month, topping market estimates of 36.
Shares of United States Steel Corporation (NYSE: X) jumped 26% on Monday after Nippon Steel announced it would acquire the company for $55 per share in an all-cash transaction. ZimVie Inc. (NASDAQ: ZIMV) shares surged over 52% after the company disclosed an agreement to sell its spine business to H.I.G. Capital for $375 million.
Most sectors on the S&P 500 closed on a positive note, with communication services and consumer staples stocks recording the biggest gains on Monday. However, real estate and utilities stocks bucked the overall market trend, closing the session lower.
Source: MSN
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