Wall Street’s optimism has edged up in recent weeks after an August slump to levels not seen since the collapse of several regional banks earlier this year.
But investors aren’t letting their guard down just yet. CNN’s Fear & Greed Index, which tracks seven different barometers for market sentiment, has oscillated between “neutral” and “greed” territory this month after plunging to a “fear” reading mid-August. But it’s still far from its “extreme greed” reading last reached in late July before August’s selloff, and is hovering around levels seen in late April, after the collapse of several US regional banks roiled markets.
That marks the first time the measure has risen above its historical average in four weeks. But some consider investor sentiment readings as contrarian indicators. Bearish sentiment touched a high of 70.3% in March 2009, right as the bear market at the time bottomed, according to AAII. ‘A spit in the face.’ EV plans worry a Midwest auto town Normally a new, $2.5 billion factory, complete with 1,400 expected jobs, would be considered a good thing for a local economy.
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