The CNN Money Fear and Greed index showed an improvement in the overall market sentiment, while the index moved to the “Extreme Greed” zone on Monday.

U.S. stocks settled higher on Monday, with the Dow Jones index closing the session above the 43,000 level for the first time. The S&P 500 also surged to record highs during the session.

U.S. major averages also recorded gains for the fifth straight week, with the S&P 500 and Nasdaq adding 1.1% each, while the Dow gained 1.2% last week.

Most sectors on the S&P 500 closed on a positive note, with information technology, real estate, and utilities stocks recording the biggest gains on Monday. However, energy stocks bucked the overall market trend, closing the session lower.

The Dow Jones closed higher by around 201 points to 43,065.22 on Monday. The S&P 500 rose 0.77% to 5,859.85, while the Nasdaq Composite rose 0.87% to close at 18,502.69 during Monday's session.

Investors are awaiting earnings results from Citigroup Inc ( C ). , Bank of America Corporation ( BAC ) , and The Goldman Sachs Group, Inc. ( GS ) today.

What is CNN Business Fear & Greed Index?

At a current reading of 76, the index moved to the “Extreme Greed” zone on Monday, versus a prior reading of 74.6.

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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