The CNN Money Fear and Greed index showed further improvement in the overall market sentiment, while the index remained in the “Neutral” zone on Wednesday. U.S. stocks settled higher on Wednesday, with the S&P 500 closing at a record high level during the session. The S&P 500 rose 0.34% to 6,688.46, while the Nasdaq Composite gained 0.42% to 22,755.16 during Wednesday's session. What is CNN Business Fear & Greed Index? It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect.