Fear & Greed Index Remains In 'Extreme Greed' Zone; S&P 500 Hovers Near Record High
Portfolio Pulse from Avi Kapoor
The CNN Money Fear and Greed Index remains in the 'Extreme Greed' zone, indicating strong market sentiment. The S&P 500 is close to its record high, with a slight 0.3% decrease from its peak. The Fed is expected to cut rates by 25 basis points in March, with a 74.1% probability. Economic data shows a rise in jobless claims and an increased trade deficit, while pending home sales remained unchanged. Cingulate Inc. (CING) saw a 146% stock surge after receiving FDA guidance for its ADHD drug candidate. Most S&P 500 sectors ended positively, except for energy and materials. The Dow Jones and S&P 500 are expected to close the year with significant gains.
December 29, 2023 | 10:50 am
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Cingulate Inc. shares surged 146% following FDA guidance for its ADHD drug candidate, CTx-1301.
The significant stock price increase for Cingulate Inc. is directly related to the positive regulatory news from the FDA, which is a strong catalyst for biotech companies. The magnitude of the stock's surge reflects high investor optimism about the drug's potential, suggesting a positive short-term impact.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100