Wall Street 'fear index' plumbs two-decade low

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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.

Institutional Shareholder Services urged PrivateBancorp stockholders to reject Canadian Imperial Bank of Commerce's latest takeover offer, citing possible Canadian housing market contagion that could undermine the $4.9-billion cash-and-stock bid.

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

Eight of the 11 major S&P sectors dipped, with the materials index .SPLRCM down 0.8 percent and energy .SPNY rising 0.5 percent on the back of higher oil prices.

With the S&P 500 hitting an all-time record intra-day high today, is it any wonder that the so-called fear index is in decline? Last week, the primary indicator used to gauge US equity volatility, the CBOE VIX index, traded under $10 for the first time since 2007.

Investor sentiment has been bolstered by historically low USA stock market volatility, last weekend's French presidential election result and solid corporate earnings.

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. It briefly touched a record high of 2,399.94.

Tony Parker to undergo season-ending surgery for ruptured left quadriceps tendon
Rockets players, referring to Popovich and the Spurs as a "machine", said they didn't think much would change with Parker out. The Spurs led by six when Aldridge scored all of their points in a 7-2 run to make it 85-74 with about five minutes left.

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.

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 jumped 8.31 per cent after bigger rival Coach Inc 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 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). Sources told Reuters that the bidder was Verizon VZ.N .

NEW YORK, May 9 (Reuters) - Wall Street opened higher on Tuesday, with the S&P 500 and Nasdaq touching all-time intraday peaks, as US equities tracked European stocks and global bond yields.

Declining issues outnumbered advancers on the NYSE by 1,352 to 1,183.

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