Bin Laden's Death Lifts Dollar, U.S. Stock Futures

The dollar and U.S. stock futures rose following President Barack Obama's announcement late Sunday night that Osama Bin Laden had been killed. Analysts said the boost to the currency was a signal of greater confidence in the United States and a reduction in national security risks. The killing of Bin Laden in Abbottabad, Pakistan, marked the end of a nearly 10-year manhunt for the terrorist leader.

"I think we need to keep an eye on how the U.S. equity cash markets are going to react to this news," Sue Trinh, senior currency strategist at RBC Capital Markets, was quoted as saying in MarketWatch. "The foreign-exchange markets have primarily been driven by risk sentiment and by extension U.S. equities."

"Osama's death is a very important event, not so much for the equity markets but if you look at the commodity markets," Manishi Raychaudhuri, strategist and head of equity research at BNP Paribas Securities told told NDTV. "Like in the oil prices, that impact was there to be seen early in the morning, when crude was down 1% to 1.5%, indicating that investors could be willing to take more risks as far as emerging markets are concerned."

"It's a short-term positive across the board both for domestic and international export-oriented companies," said Shawn Price in the Sydney Morning Herald. Continued Price, who manages $2.7 billion at Navellier & Associates in Reno, Nev.: "We will get a broad relief rally because a world villain has been taken down. Whether it's a true or false sense of security, the average American will feel more safe now, feel better about the economy and the market."

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hoxsie454

AOL strikes again with a lead story on Daily Finance, today, Thursday May 5th, which is actually repost of an article originally posted May 2nd! Thanks a bunch, AOL --- you are really hell-bent on destroying your franchise.

May 05 2011 at 8:21 AM Report abuse rate up rate down Reply
YAKNA2

AOL finally fixed the problem of the bully neocons. Don't you just love it. I am independent with a slant towards democrat and I pay to use AOL. Obviously the below poster does not know what he is talking about.

May 03 2011 at 11:45 PM Report abuse -6 rate up rate down Reply
2 replies to YAKNA2's comment
mharleyvet

If this keeps up, you can kiss aol and hufpuf good bye!

May 04 2011 at 12:09 AM Report abuse +5 rate up rate down Reply
obamamoochele

Independent on your knees Please no such thing as a Idependent Democrat you all are on the cheese log train.

May 04 2011 at 7:16 AM Report abuse +2 rate up rate down Reply
obamamoochele

AOL is done they will lose more the have of their posters the libs do not pay to use aol.

May 03 2011 at 10:28 PM Report abuse +4 rate up rate down Reply
1 reply to obamamoochele's comment
obamamoochele

than half

May 04 2011 at 7:14 AM Report abuse -1 rate up rate down Reply
shutuplyinglibs

Did James Lee go fly his pink airplane?

May 03 2011 at 2:51 PM Report abuse +4 rate up rate down Reply
dwuzze

Can't wait 'till they figure out this million $$ mansion was built with "no bid contract" money or the foreign aid we sent over there .... just to prolong this endless war and money drain. After all, it's only business and we can trust corporations to be responsible and righteous with our money..... Right?

May 03 2011 at 1:09 PM Report abuse -5 rate up rate down Reply
shutuplyinglibs

George good morning have a great day/

May 03 2011 at 12:18 PM Report abuse +1 rate up rate down Reply
shutuplyinglibs

Jimma have fun I can't lol at you anymore my side hurt to much.

May 03 2011 at 12:17 PM Report abuse +2 rate up rate down Reply
shutuplyinglibs

tsgarpirving
Cool. I remember when I used to play with toys.'''''''''''' cmdrlambs says you still do and you use lots of ky also.

May 03 2011 at 12:15 PM Report abuse +3 rate up rate down Reply
1 reply to shutuplyinglibs's comment
mharleyvet

LMFAO!!!!!!!!!!

May 03 2011 at 12:18 PM Report abuse +3 rate up rate down Reply
dmmonsterpatrol8

Well have fun with the TS/LOB , I have bigger fish to fry !!!!!

May 03 2011 at 12:15 PM Report abuse +3 rate up rate down Reply
1 reply to dmmonsterpatrol8's comment
shutuplyinglibs

Later take care.

May 03 2011 at 12:16 PM Report abuse +2 rate up rate down Reply
shutuplyinglibs

Jimma's grandma alway said jimma has a lot of quit in him.

May 03 2011 at 12:13 PM Report abuse +2 rate up rate down Reply