Nasdaq Jumps Over 600 Points as MSFT Shares Surge: Investor Sentiment Improves, but Greed Index Remains in 'Fear' Zone
Key takeaways
- The Nasdaq Composite surged 2.78% on Thursday, driven by Microsoft's 15.5% gain, while the Dow Jones closed higher by around 614 points.
- 43%: Microsoft's cloud revenue growth
- 15.5%: Microsoft's gain on Thursday
- 614 points: Dow Jones' gain on Thursday
What happened
The Nasdaq Composite jumped 2.78% to 25,122.18, and the Dow Jones closed higher by around 614 points to 52,208.06 on Thursday, as Microsoft Corp. (MSFT) surged 15.5% after reporting 43% cloud revenue growth.
Why it matters
The improvement in market sentiment, as measured by the CNN Money Fear and Greed index, is a positive sign for investors, but the index remains in the 'Fear' zone. The index's current reading of 39 is a 1-point increase from its prior reading of 38.
Short-term and longer-term
Short-term. Microsoft's 15.5% gain and the Nasdaq Composite's 2.78% gain suggest a shift towards a more optimistic sentiment, but the Fear & Greed Index's reading of 39 indicates that investors remain cautious.
Longer-term. The improvement in market sentiment, as measured by the CNN Money Fear and Greed index, is a positive sign for investors, but the index remains in the 'Fear' zone.