* VIX closes at lowest level since 1993 on Monday
* Valeant swings to profit, shares surge
* Futures up: Dow 37 pts, S&P 3.25 pts, Nasdaq 7.5 pts
(Adds details, comments, updates prices)
By Yashaswini Swamynathan
May 9 U.S. stocks were poised to open slightly
higher on Tuesday, with market volatility at its lowest in more
than two decades following Emmanuel Macron's victory in the
French presidential election and strong U.S. corporate earnings.
The VIX, Wall Street's "fear gauge", closed at its
lowest level since 1993. A low VIX typically indicates a bullish
outlook for stocks.
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.
"Trees don't grow to the sky so we need to be realistic
about the market," said Eric Aanes, chief executive officer at
Titus Wealth Management.
"The risk for the downside is probably increasing every day.
Historically, the market is due for a pullback."
Dow e-minis were up 37 points, or 0.18 percent at
8:36 a.m. ET (1236 GMT), with 17,743 contracts changing hands.
S&P 500 e-minis were up 3.25 points, or 0.14 percent,
with 101,861 contracts traded.
Nasdaq 100 e-minis were up 7.5 points, or 0.13
percent, on volume of 18,251 contracts.
Since Donald Trump's election in November the S&P 500 has
risen nearly 14 percent, raising questions about market
valuations. However, solid first-quarter earnings could quell
some of those fears.
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.
Shares of Valeant Pharmaceuticals jumped more than
16 percent in premarket trading after the company posted its
first profit in six quarters.
Endo International, Office Depot and
Marriott also rose after reporting better-than-expected
(Reporting by Yashaswini Swamynathan in Bengaluru; Editing by