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

U.S. stocks settled higher on Friday, with the Nasdaq Composite closing at 26,972.62 during the session.

In earnings, shares of Buckle Inc. ( BKE ) tanked more than 9% on Friday, even after the company posted upbeat quarterly results. Elmet Group Co.'s ( ELMT ) stock fell almost 6% despite the company posting upbeat earnings for its first quarter as a public company.

On the economic data front, US wholesale inventories grew by 0.5% month-over-month to $938.6 billion in April, following a 1.5% rise in March. The figure came in short of market estimates of 0.6% growth. Meanwhile, retail Inventories ex-autos rose by 0.6% month-over-month in April, matching March’s reading.

Most sectors on the S&P 500 closed on a negative note, with consumer staples, communication services and energy stocks recording the biggest losses on Friday. However, information technology and financial stocks bucked the overall market trend, closing the session higher.

The Dow Jones closed higher by 0.72% at 51,032.46 on Friday. The S&P 500 surged 0.22% to 7,580.06, while the Nasdaq Composite jumped 0.2% to 26,972.62 during Friday's session.

Investors are awaiting earnings results from Hewlett Packard Enterprise Co. ( HPE ) , Woodside Energy Group Ltd. ( WDS ) and Credo Technology Group Holding Ltd. ( CRDO ) 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 64.

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.