Equities Mid-Day Stock Market Roundup: Osama Bin Laden is Dead.

Equities Editors Desk |

Barack Obama Osama Bin Laden DeathWall Street gave back all their early trading gains today--and then some--as news of the death of Al Qaeda leader Osama Bin Laden apparently only had a short-term positive effect on the stock market. Though Bin Laden is now dead, experts still believe that Al Qaeda is an ongoing concern. Economists do not believe that the death of Bin Laden will have significant impact Oil prices also dipped in early morning trading, but have since recovered losses. Crude delivery for June is now trading above $114 per barrel. U.S. Treasuries have seesawed as well. New economic data showed that construction spending recovered last month but the pace of U.S. manufacturing growth has slowed for a second consecutive month in April. Gold prices are also up, trading at around $1560 per ounce.

Major U.S. Indices

DJIA: 12,829.01 (+0.14 percent)
S&P 500: 1,364.69 (+0.08 percent)
Nasdaq: 2,872.94 (-0.02 percent)
Russell 2000: 858.54 (-0.78 percent)

In other news:

  • More on the killing of Osama Bin Laden and the impact of his death. [Economist]
  • How to trade Osama Bin Laden. [The Street]
  • Can we get a slow clap for Chrysler? [WSJ]
  • Teva Pharmaceuticals (NASDAQ: TEVA), the world's largest generic drugmaker, is buying biopharmaceutical company Cephalon (NASDAQ: CEPH) for $6.8 billion, or $81.50 a share. That represents a 39 percent premium on the share price before the news. [NY Times]
  • World Wrestling Entertainment (NYSE: WWE) shares got hammered after the company announced the highly expected dividend cut on Friday. Shares are recovering in Monday trading though. [AP]

Check back for more news.

 

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

Companies

Symbol Name Price Change % Volume
IOT Income Opportunity Realty Investors Inc. 7.21 0.00 0.00 69

Comments

Emerging Growth

Propanc Health Group Corp

Propanc Health Group Corp is an early stage healthcare company. It is engaged in developing new cancer treatments for patients, suffering from pancreatic and colorectal cancer.

Private Markets

XY Find It

Founded by serial entrepreneur Arie Trouw, XY Findables follows a single guiding principle: customers should never lose anything important again. With over 50,000 users around the world, more than 100,000…

Snapchat

Snapchat is the fastest way to share a moment with friends. The mobile app, allows users to not only share photos with friends but also control how long they can…