CNN Fear & Greed index showed improved market sentiment, with S&P 500 hitting a new record high after PPI data release. Nasdaq up 0.81%.

CNN Fear & Greed Index: Market sentiment declined, but remained in Greed zone on Tuesday. Stocks closed lower.

The S&P 500 opened at a record high after July CPI data showed 3.4% year-over-year inflation, with the Dow and Nasdaq also climbing on rate-hike