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

U.S. stocks settled mostly higher on Wednesday, with the S&P 500 surging to a new all-time high during the session.

In earnings, Alibaba Group Holding Ltd ( BABA ). shares gained around 8% on Wednesday after the e-commerce and cloud-computing company reported mixed fiscal fourth-quarter 2026 results. Tower Semiconductor Ltd ( TSEM ) shares jumped around 23% after the company reported better-than-expected first-quarter financial results and issued second-quarter sales guidance with its midpoint above estimates.

On the economic data front, April wholesale prices jumped 1.4% month-over-month, nearly triple the 0.5% consensus, and headline PPI surged to 6% year-over-year against expectations of 4.8%, the hottest print in over three years.

Rate traders quickly revised Fed policy path, with fed funds futures now pricing a hike more likely than a hold by year’s end.

Most sectors on the S&P 500 closed on a positive note, with communication services, consumer discretionary and information technology stocks recording the biggest gains on Wednesday. However, utilities and financial stocks bucked the overall market trend, closing the session lower.

The Dow Jones closed lower by around 67 points to 49,693.20 on Wednesday. The S&P 500 surged 0.58% to 7,444.25, while the Nasdaq Composite jumped 1.20% at 26,402.34 during Wednesday's session.

Investors are awaiting earnings results from Dillard’s Inc. , Applied Materials Inc. ( AMAT ) and Legence Corp. ( LGN ) today.

What is CNN Business Fear & Greed Index?

At a current reading of 65.8, the index remained in the “Greed” zone on Wednesday, versus a prior reading of 65.1.

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.