The CNN Money Fear and Greed index showed some improvement in the overall market sentiment, while the index remained in the “Fear” zone on Wednesday.

U.S. stocks settled mixed on Wednesday, with the Dow Jones index falling more than 400 points during the session following the release of PCE data.

A cooler-than-expected reading on the Federal Reserve’s preferred inflation gauge has strengthened the case for Treasury bonds, after August data came in below economists’ forecasts, helped largely by downward revisions to prior months.

The Personal Consumption Expenditures (PCE) price index rose 0.3% month over month in August, below the 0.4% consensus estimate. Core PCE rose 0.2%, versus expectations of 0.3%. Separately, ADP reported private payrolls rose by 90,000 in September, above the 68,000 consensus.

Trump said he offered Iran "nothing" on sanctions relief, according to media reports, pushing back on suggestions that Washington was ready to soften its stance.

Conagra Brands Inc. (NYSE:CAG) posted better-than-expected earnings for the first quarter. Jabil Inc. (NYSE:JBL) posted upbeat earnings for the fourth quarter.

Most sectors on the S&P 500 closed on a negative note, with health care, consumer staples and industrials stocks recording the biggest losses on Wednesday. However, information technology and consumer discretionary stocks closed the session higher.

The Dow Jones closed lower by around 444 points to 50,906.05 on Wednesday. The S&P 500 fell 0.25% to 7,651.54, while the Nasdaq Composite gained 0.24% at 26,861.06 during Wednesday’s session.

Investors are awaiting earnings results from Acuity Inc. (NYSE:AYI), Accenture Plc (NYSE:ACN) and Nike Inc. (NYSE:NKE) today.

What is CNN Business Fear & Greed Index?

At a current reading of 31, the index remained in the “Fear” zone on Wednesday, versus a prior reading of 29.

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 equally weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.

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