Wall St. set to open higher as risk-on sentiment improves

A lower VIX typically indicates a bullish outlook for stocks.

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.

The euro hit a six-month high against the dollar after Macron comfortably defeated far-right nationalist Marine Le Pen who had threatened to take France out of the European Union. And according to MarketWatch, the index, which is based on options contracts on the S&P 500 index 30 days in the future, has only finished in the single digits on ten previous occasions. Convergex chief market strategist Nicolas Colas weighs in.

After a year of political surprises, an eerie calm has descended on markets.

The 10-year U.S. Treasury yield rose to its highest in a month, while gold prices fell, indicating a shift in investor preference for riskier assets. On May 8, it fell 7.6% to 9.77-the lowest reading for the S&P 500 VIX index since 1993.

Obama warned Trump about Flynn, former officials say
Trump made no mention of the fact that Flynn had been fired by the Obama administration in 2014. She said Monday she did not - and that she had revealed no classified information herself.

The VIX is down 32 percent since the first round of French voting two weeks ago.

"We remain largely constructive of the equity market and view that the path of least resistance is higher", said Bill Northey, chief investment officer at Private Client Group of U.S. Bank.The Dow Jones Industrial Average.DJI edged up 0.03 percent to end at 21,012.28 points and the S&P 500.SPX gained 0.08 points, less than a hundredth of a percent, to end at 2,399.37. London copper rose 0.47 percent to $5,511 a tonne, having fallen to as low as $5,462.50 on Monday.

Erin Gibbs of S&P Global pins the lack of movement on positive first-quarter earnings, a low rate of earnings misses, and stability in earnings growth estimates.

Meanwhile, the Federal Reserve has brushed aside signs of weakness in the world's largest economy.

"Risk-taking began to deteriorate earlier this year as ambiguity brought about by the "Politics of Rage" dampened strategic risk taking", Barclays Plc analysts led by Giovanni Paci wrote in a note Sunday. "[It's] fair to assume lower trading volatility will be a negative force on trading [desks], it just depends on whether other areas can take up".

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