US stocks gain traction, S&P 500 and Nasdaq hit fresh intraday record highs

Improving global risk helped the US stocks to open with modest gains on Tuesday, with the S&P 500 and Nasdaq Composite Index hitting fresh intraday record high levels. 

Against the backdrop of market friendly outcome from the closely watched French Presidential election, upbeat corporate earnings reports boosted investors sentiment. Upbeat market sentiment is clearly reflected by suppressed market volatility, with the CBOE Volatility Index (VIX) falling to its lowest level in over two-decades. 

At the time of writing, the Dow Jones Industrial Average added around 13-points to 21,024, while the broader S&P 500 Index gained nearly 2-points and move above 2,400 round figure mark to fresh record high level. Meanwhile, tech-heavy Nasdaq Composite Index outperformed the broader indices and gained roughly 20-points and is currently placed a record high level of 6,122.

With markets already starting to price-in an eventual Fed rate-hike action in June, speeches by couple of FOMC members - Minneapolis Fed President Neel Kashkari and Boston Fed President Eric Rosengren, would be closely watch for any fresh clues over the upcoming policy decision.