The CNN Money Fear and Greed index showed a slight change in the overall market sentiment, while the index remained in the “Greed” zone on Thursday.

U.S. stocks settled mostly lower on Thursday, with the Dow Jones index falling more than 450 points, ending a 5-session win streak amid a surge in crude oil prices.

On the earnings front, Sandisk Corp. (NASDAQ:SNDK) shares fell around 7% following fiscal fourth-quarter results. AppLovin Corp. (NASDAQ:APP) dipped around 20% following mixed quarterly results, while Western Digital Corp. (NASDAQ:WDC) fell 13% after the company issued a weak first-quarter forecast.

On the economic data front, initial jobless claims rose just 1,000 to 199,000, undershooting forecasts of 202,000 and reinforcing the picture of a tight labor market. U.S. nonfarm business sector labor productivity increased 1.4% in the second quarter, higher than market estimates of a 0.6% gain.

Most sectors on the S&P 500 closed on a negative note, with real estate, industrials and materials stocks recording the biggest losses on Thursday. However, energy and health care stocks bucked the overall market trend, closing the session higher.

The Dow Jones closed lower by around 464 points to 53,885.10 on Thursday. The S&P 500 fell 0.18% to 7,709.96, while the Nasdaq Composite slipped 0.06% at 26,348.35 during Thursday’s session.

Investors are awaiting earnings results from Take-Two Interactive Software Inc. (NASDAQ:TTWO), Fluor Corp. (NYSE:FLR) and Vistra Corp. (NYSE:VST) today.

What is CNN Business Fear & Greed Index?

At a current reading of 60, the index remained in the “Greed” zone on Thursday, versus a prior reading of 59.

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.

Photo via Shutterstock