The CNN Money Fear and Greed index showed almost no change in the overall market sentiment, while the index remained in the “Extreme Fear” zone on Friday.

U.S. stocks settled lower on Friday, with the Nasdaq Composite falling more than 50 points during the session, recording its fifth straight losing session.

The S&P 500 fell around 2% last week, while the Nasdaq tumbled 4.6% in the period. However, the Dow recorded gains, rising 0.6% last week.

ON Semiconductor Corp. (NASDAQ:ON) shares dipped around 24% on Friday after agreeing to acquire Synaptics Inc. (NASDAQ:SYNA) in an all-stock deal valued at roughly $7 billion.

On the economic data front, the goods trade deficit in the U.S. rose to $105.8 billion in May from $83 billion in the prior month, recording the widest gap in over one year, and compared to market estimates of an $85 billion gap. U.S. wholesale inventories rose by 0.3% month-over-month to $943.9 billion in May, compared to a 0.7% rise in the previous month and above market estimates of a 0.2% gain. The University of Michigan consumer sentiment index rose to 49.5 in June from a preliminary level of 48.9, but remained below market estimates of 50.

Most sectors on the S&P 500 closed on a positive note, with health care, consumer discretionary and real estate stocks recording the biggest gains on Friday. However, industrials and information technology stocks bucked the overall market trend, closing the session lower.

The Dow Jones closed lower by around 44 points to 51,876.11 on Friday. The S&P 500 fell 0.05% to 7,354.02, while the Nasdaq Composite dipped 0.24% at 25,297.62 during Friday’s session.

Investors are awaiting earnings results from Concentrix Corp (NASDAQ:CNXC) and AeroVironment, Inc. (NASDAQ:AVAV) today.

What Is CNN Business Fear & Greed Index?

At a current reading of 24.8, the index remained in the “Extreme Fear” zone on Friday, versus a prior reading of 24.4.

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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