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.
The S&P 500 and the Nasdaq composite hit all-time highs before paring gains as investors looked for fresh catalysts following centrist Emmanuel Macron's widely expected victory in the French presidential election.
The CBOE Volatility index .VIX dropped almost 8 percent to 9.73 and was on track for its lowest close since 1993 as investors took comfort from Macron's victory, as well as from strong quarterly reports in recent weeks.
In contrast, I view decreasing levels of equity volatility as a very bullish quantitative factor, given the current U.S. Fundamental Gravity of accelerating growth.
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.
Oil prices hovered near six-month lows as talks to extend a supply cut deal did little to soothe concerns about a glut amid a boom in US drilling.
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A steel chair assault from Reigns proved to be too much for the gift of destruction to handle, as he quickly beat a hasty retreat. Miz feels like a guy who can get it done no matter what, and now Ambrose has all the motivation he needs to kick Miz's teeth in.
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. Last week, the primary indicator used to gauge USA equity volatility, the CBOE VIX index, traded under $10 for the first time since 2007.
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.
Endo International ENDP.O , Office Depot ODP.O and Marriott MAR.O also rose after reporting better-than-expected quarterly earnings.
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. London copper rose 0.47 percent to $5,511 a tonne, having fallen to as low as $5,462.50 on Monday.
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.
Tyson Foods TSN.N was the biggest S&P loser, down 6.2 percent after the meat processor reported a slump in quarterly profit.