Published: Wed, May 10, 2017
Finance | By Laverne Griffith

Wall Street flat; fear barometer falls to 1993 low

Wall Street flat; fear barometer falls to 1993 low

It closed at 9.77, lowest since December 1993.

USA stock index futures were little changed on Monday as investors looked for new catalysts following centrist Emmanuel Macron's widely expected victory in the French presidential election.

While the market appeared buoyant, analysts urged caution against investor complacency, especially after the market's strong run since Donald Trump's election as US president.

Volatility will return, she said, and it may come when the Federal Reserve starts to shrink its $4.5 trillion balance sheet. 18, while the Nasdaq index rose 26.10 points or 0.43% to 6,128.98.

USA crude oil futures extended their recovery from a five-month low last week, settling up 21 cents at $46.43 a barrel after Saudi Arabia's oil minister said that he expected major oil producers to consider extending their deal to cut supply possibly into next year.

Brent crude futures were last down 1.1 percent at $48.80 a barrel while West Texas Intermediate was off 1 percent at $45.96. A low VIX typically indicates a bullish outlook for stocks.

In the 10 sessions through Monday, the S&P 500 (INDEX:.SPX) has moved in the smallest range ever for such a period, according to a CNBC analysis of FactSet data going back to 1980.

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Tyson Foods TSN.N , Hertz Global HTZ.N and Marriott International MAR.O are scheduled to report quarterly results on Monday.

At 9:40 a.m. ET (1340 GMT), the Dow Jones Industrial Average was down 25.4 points, or 0.12 percent, at 20,981.54.

Shares of Kate Spade KATE.N jumped 8.2 percent after bigger rival Coach Inc COH.N said it would buy the handbag maker for $2.4 billion to increase its exposure to millennial shoppers. German yields rose by 1-2 basis points and the 10-year British gilt yield rose around 4 basis points.

Straight Path STRP.A surged more than 16 percent to $187.51 after an unnamed telecommunications company raised its offer to buy the wireless spectrum holder for about $3.1 billion. Sources told Reuters that the bidder was Verizon VZ.N .

The S&P 500 index showed 38 new 52-week highs and three new lows, while the Nasdaq recorded 96 new highs and 42 new lows.

Declining issues outnumbered advancing ones on the NYSE by a 1.23-to-1 ratio; on Nasdaq, a 1.22-to-1 ratio favored decliners.

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