Looks like the death of Osama Bin Laden this Sunday took some “fear factor” out of markets, which greeted the news favorably. Pressure at the pump could be relieved a bit with oil falling 0.7% to $113.23. Gains were seen across several markets, with the Dow Jones up .5%, the S&P up 5 points and the Nasdaq moving forward 7 points. However the surge could evaporate easily, even by end of day, as the euphoria wears off. And if Bin Laden’s death leads to retaliatory attacks, you can be sure those gains will be erased, and then some.
Bin Laden's Death Greeted By Falling Oil Prices, Market Gains
By Ben Popken May 2, 2011
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