US STOCKS-Wall St edges up, S&P 500 at highest level since Oct 2007

Mon Mar 11, 2013 12:50pm EDT
 
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* Early weakness brings in the buyers, VIX slides

* S&P 500 at highest intraday level since October 2007

* BlackBerry jumps 11 percent, Z10 sales to start in U.S.

* Dow up 0.2 pct, S&P 500 up 0.1 pct, Nasdaq flat

By Leah Schnurr

NEW YORK, March 11 (Reuters) - Wall Street inched higher on Monday as earlier weakness prompted some buying and investors pushed the S&P 500 to its highest intraday level since October 2007.

By midday, the Dow Jones industrial average and the S&P 500 were trading in positive territory, continuing last week's rally that took the Dow to record highs. The S&P 500 is only about 1 percent away from its all-time closing high.

Wall Street's "fear gauge" fell to the lowest level since April 2007, suggesting investors were not spooked by Monday's consolidation. The CBOE Volatility Index, known as the VIX, dropped 5.5 percent to 11.90.

U.S. equities have rallied strongly since the beginning of the year, helped by signs of improvement in the economy, and pullbacks have been short lived as investors look to get into the market.   Continued...