Published: Wed, May 10, 2017
Business | By Jorge Reeves

Wall Street's 'Fear Index' Has Hit a Two-Decade Low

Wall Street's 'Fear Index' Has Hit a Two-Decade Low

That's right. The last time the VIX touched a level this low, it was 1993 and Sleepless in Seattle was about to hit movie house marquees.

While the market appeared buoyant, analysts urged caution against investor complacency, especially after the market's strong run since Donald Trump's election as USA president. On the Nasdaq, 1,255 issues fell and 1,040 advanced.

"In Q1 the trend was that banks trading desks had the best overall growth - if we see slumping volume in Q2 then that trend will reverse", said Jasper Lawler, a senior market analyst for London Capital Group.

US 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.

Defending Rockets' Harden is a chess match worth watching
I mean, maybe they will, but the Spurs have removed a ton of the randomness from the Rockets' subpar offense these last two games. The 26 points for Aldridge ranks as his third most in a postseason outing with the Spurs, and his 2017 playoff season high.

Copper bounced from a four-month low touched on Monday after data showed a sharp drop on imports by China, the world's biggest consumer.

Chintawongvanich, derivatives strategist at Macro Risk Advisors in NY said the CBOE Volatility Index, which is popularly known as the VIX, is the widely followed barometer of anticipated near-term volatility of stock market.

S&P 500 earnings on average have grown 14.4 percent, up from 10.1 percent estimated at the start of the earnings season, according to Thomson Reuters I/B/E/S.

The Dow Jones Industrial Average rose 21.04 points, or 0.1 percent, to 21,033.32, the S&P 500 gained 3.16 points, or 0.13 percent, to 2,402.54 and the Nasdaq Composite added 24.47 points, or 0.4 percent, to 6,127.13.

Buffett criticizes United and its CEO over dragging incident
The bank last fall said that its employees opened up 2 million bank accounts without customer approval to meet unrealistic sales goals.

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

Shares of Kate Spade rose 8.2 percent to $18.36 after bigger rival Coach Inc said it would buy the company for $2.4 billion.

Straight Path (STRP.A) surged almost 33 percent after an unnamed telecommunications company raised its offer to buy the wireless spectrum holder for about $3.1 billion, trumping a bid by AT&T (T.N).

The S&P 500 posted 44 new 52-week highs and 4 new lows; the Nasdaq Composite recorded 116 new highs and 58 new lows. Sources told Reuters that the bidder was Verizon VZ.N .

UFC adds 125-pound weight division for women
This will be the fourth UFC women's division, joining strawweight, bantamweight and the recently created featherweight. Sports that the news release had been sent in error and that the weight class has not been finalized.

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