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The S&P 500 and Nasdaq Composite opened at fresh highs as global market volatility has fallen to its lowest point in two decades.

The S&P 500 rose 0.1 per cent at the start of Tuesday trading to open to 2,402.30, while the Nasdaq Composite rose nearly 0.2 per cent to 6,114.10 after closing at a fresh record on Monday. The Dow Jones Industrial Average was up 0.1 per cent to 21,035.76.

With Emmanuel Macron’s victory in the French presidential election over the weekend, the Vix volatility index closed on Monday at its lowest level since 1993, propping up global stocks. The Euro Stoxx 50 is up a further 0.5 per cent on Monday, while the FTSE 100 has gained 0.8 per cent.

US Treasuries yields, which move inversely to price, were also slightly higher, gaining 1.3 basis points to 2.4 per cent. Likewise, the dollar index — which measures the buck against a basket of its peer currencies — is up 0.48 per cent to 99.54.

Later today markets will also see reports on JOLT job openings and wholesale trade. Regional Federal Reserve presidents Eric Rosengren and Robert Kaplan are also scheduled to speak this afternoon.

On the corporate calendar, Walt Disney, Hostess Brands and Priceline are scheduled to release quarterly earnings.

Copyright The Financial Times Limited 2018. All rights reserved.

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