Nasdaq Jumps 1% as Amazon Shares Surge: Investor Sentiment Improves, But Greed Index Remains in 'Fear' Zo

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

U.S. stocks settled higher on Friday, with the Nasdaq Composite gaining 1% during the session following a sharp rise in Amazon.com Inc. (NASDAQ:AMZN) shares.

Amazon shares jumped over 15% on Friday after reporting better-than-expected results for the second quarter. However, Apple Inc. (NASDAQ:AAPL) stock fell over 7% following fiscal third-quarter results.

On the economic data front, U.S. employment costs increased by 0.9% in the second quarter, up from market estimates of a 0.8% rise. The University of Michigan’s consumer sentiment index rose to 55.2 in July versus a preliminary reading of 54.0.

Most sectors on the S&P 500 closed on a negative note, with materials, utilities and real estate stocks recording the biggest losses on Friday. However, communication services and consumer discretionary stocks were among the biggest gainers.