S&P 500 and Nasdaq Open Above Closing Records in Low-Volatility Trading

S&P 500 and Nasdaq Open Above Closing Records in Low-Volatility Trading

S&P 500 and Nasdaq Open Above Closing Records in Low-Volatility Trading

Despite the choppy trading, the Nasdaq and the S&P 500 inched up to new record closing highs.

Seven of 11 sectors contributed to the decline, with energy stocks falling 0.9%.

It was the third straight day that the Nasdaq notched an all-time high, but each of those has been by only a marginal amount.

The Nasdaq Composite .IXIC was down 9.19 points, or 0.15 percent, at 6,091.57, after hitting a record high of 6,106.11.

The Dow is down 31.16 points, or 0.1 percent.

Tribune Media gained 5.2 percent after agreeing to be acquired by Sinclair Broadcast Group for $3.9 billion.

Apple rose 0.64 percent to end at $153.99, giving it a market valuation of $802.9 billion, a first for a US company. The South Korean market was closed as voters elected a new president.

Marriott International jumped $6.13, or 6.4 percent, to $102.50 after reporting stronger-than-expected earnings for the latest quarter. The hotel operator cited improving trends around the world.

Bouchard: 'Cheater' Sharapova should be banned for life
The turning point arrived when Sharapova broke with a fierce cross-court backhand, forcing Kontaveit to net her return attempt. I stepped up, I didn't back down when she was serving to stay in the match . "But I love the game and I love great rivalries".

The Nasdaq is up 737.47 points, or 13.7 percent. It has been climbing since hitting a low of 2.17 percent three weeks ago. George, considered one of the most hawkish members of the Fed, also thinks the Fed should begin reducing the balance sheet this year, causing Treasury yields to inch up further.

The Standard & Poor's 500 index wafted up and down through the day before ending at 2,399.38, up by just 0.09 points. In Germany, the DAX slipped 0.2 percent.

Since Donald Trump's election in November the S&P 500 has risen almost 14 per cent, raising questions about market valuations.

EVERYONE REMAINS CALM: Markets have been placid, as investors keep crossing off reasons to fear.

Bank of America Merrill Lynch recently reported that inflows into US stocks are at a nine-year low, as investors opt for European markets.

The CBOE Volatility index, also known as Wall Street's "fear gauge", dropped to its lowest in more than 10 years as the risk-off sentiment, which had gripped the market ahead of the French vote, eased. US stock indexes bobbed a bit further into record territory Tuesday, May 9, 2017, joining a smooth rise higher for markets around the world.

CURRENCIES: The euro fell to $1.0896 from $1.0930 late Monday. The dollar rose to 113.07 Japanese yen from 112.61 yen. US equity markets were hobbled by a downturn in USA crude-oil prices, which fell by 1.2%, to settle at $45.88 a barrel, ending two days of gains for the commodity. Brent crude, the worldwide standard, rose 27 cents to $49.37 per barrel.

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