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

U.S. stocks settled higher on Thursday, with the Dow Jones index gaining more than 250 points during the session as crude oil prices fell on revived hopes of a U.S.-Iran de-escalation.

According to Reuters, Iran's Supreme Leader issued a directive stating Tehran's near-weapons-grade uranium should not be sent abroad, hardening Iran's position on a key U.S. demand in peace talks.

In earnings, Walmart Inc. (NASDAQ:WMT) stock fell over 7% on Thursday after the retail giant reported first-quarter results that topped revenue estimates but reaffirmed full-year guidance below Wall Street expectations. Intuit Inc. (NASDAQ:INTU) shares dropped 20% after the company reported third-quarter financial results and issued FY26 GAAP EPS guidance below estimates. Also, the company reduced its full-time workforce by 17 percent.

On the economic data front, the S&P Global services PMI fell to 50.9 in May from 51 in the previous month. The S&P Global manufacturing PMI climbed to 55.3 in May from 54.5 in April, and topping market estimates of 53.8. U.S. initial jobless claims declined by 3,000 to 209,000 in the second week of May, compared to market estimates of 210,000.

Most sectors on the S&P 500 closed on a positive note, with materials, utilities and consumer discretionary stocks recording the biggest gains on Thursday. However, consumer staples and energy stocks bucked the overall market trend, closing the session lower.

The Dow Jones closed higher by around 276 points to 50,285.66 on Thursday. The S&P 500 rose 0.17% to 7,445.72, while the Nasdaq Composite gained 0.09% at 26,293.10 during Thursday's session.

Investors are awaiting earnings results from Booz Allen Hamilton Holding Corp. (NYSE:BAH) and BJ’s Wholesale Club Holdings Inc. (NYSE:BJ) today.

What Is CNN Business Fear & Greed Index?

At a current reading of 58.3, the index remained in the “Greed” zone on Thursday, versus a prior reading of 60.3.

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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