- The CNN Money Fear and Greed index indicates a drop in investor sentiment ahead of inflation data release.
- Disappointing September earnings for Oracle and an underwhelming response to Apple's new iPhone have contributed to this downturn.
- The upcoming inflation data could potentially cause further fluctuations in the market.
As we approach a critical phase of the economic calendar with the imminent release of key inflation data, investor sentiment appears to bear the signs of apprehension marked by a decline in the CNN Money Fear and Greed index. Analyzing this in the context of recent market performance and announcements, we find several potential drivers for this trend.
Prominently, Oracle’s disappointing earnings report for September indicates a slump in sales and a subsequent decline in revenue forecast, sparking concerns among investors and leading to a ripple effect in the tech market. Reflecting this, their shares fell, contributing to the Nasdaq's closing drop of over 1%.
Compounding this sentiment, Apple Inc.'s latest iPhone launch failed to elicit the level of excitement and market engagement typically associated with their product reveals. The lukewarm investor response translated into a 1.7% decline in Apple's shares. The decline in prices of these heavyweight stocks inevitably casts a shadow over the broader technology market and investor confidence.
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