Stock futures jump on news of Osama bin Laden death

Stock futures jumped, with Wall Street poised to rally at the open after news broke late Sunday that Osama bin Laden was killed in Abbottabad, Pakistan in an operation conducted by American military forces and the Central Intelligence Agency.

“In Asia, the Nikkei jumped 1.6%, while China and Hong Kong were closed for the Labour Day Holiday. China’s manufacturing PMI was released, which showed a decline quarter over quarter to 52.9. In Europe, positive sentiment engulfed Germany and France’s markets, while the UK bourse was close for May Day Holiday. European PMI came in slightly above its preliminary figures,” Christoper Lynn writes for TradersHuddle.com. “Crude oil was falling more than $2 per barrel on Bin Laden news, while silver was plunging more than 6%, trading at $45.495 an ounce. Gold was not seeing much of a sell-off, trading near the flat line.”

Lynn writes, “Apple, the maker of iPads and iPhones, was climbing 0.82% to $353 in pre-market. The stocks will likely probe the calculated resistance area at the $355 level during the session, if broken the stock could start mustering momentum to move into new all-time highs territory above $364.90. Apple re weighting in the NASDAQ-100 is effective May 2nd, with this overhang removed, some analysts expect Apple to help extend the broad market and NASDAQ highs, as the stock had lagged in the previous sessions and will likely play catch up. FBR Capital also raised its estimates for second quarter iPad production by 7 % to from 5.8M units to 6.2M units, due to increased availability of IPS panel displays and as Hon Hai sees improved manufacturing yields.”

Read more in the full article here.

CNNMoney reports, “U.S. stocks were poised for a higher open Monday, as investors cheer news that Osama bin Laden was killed by U.S. forces.”

“‘It was such an incredible victory that there is going to be a very, very good mood on Wall Street and throughout the country,’ said Jeffrey Sica, president and chief investment officer at SICA Wealth Management,” CNNMoney reports. “While the news should boost stocks first thing Monday morning, Sica said Osama bin Laden’s death is not enough to sustain a long rally.”

CNNMoney reports, “Dow Jones industrial average (INDU), S&P 500 (SPX) and Nasdaq (COMP) futures were up about 0.5% ahead of the opening bell… While corporate earnings have thus far been strong, Sica said the weak read on the economy’s growth and the labor market last week were causes for concern… The Nasdaq-100 index will be rebalanced to reduce the weight of Apple’s stock by about 40%. Apple (AAPL) currently represents 20.5% of the index. After the rebalancing, Apple’s weight will be reduced to 12.3%.”

Read more in the full article here.

MacDailyNews Note: In pre-market NASDAQ trading, AAPL is currently down $0.86, or -0.25%, at $349.27.

37 Comments

  1. Deep, Deep appreciation for the highly skilled Navy Seals who pulled off this brave and daring assignment. Lets hope this can be a turning point in our nation. Let better days be ahead.

  2. Deep in the heartlands of Pakistan a tribal meeting is taking place. A tall swarthy man with a beard & wearing a turban tightly wrapped around the crown of his head walks in after disembarking from a white Toyota Land Cruiser. 

    The assembled village elders rise to their feet to greet him. One of them, a younger man accustomed to surfing the Internet in the cafes of Islamabad extends a small package towards the tall rangy man. The exterior of the package is white with the picture of a mobile telephone on it imprinted with colorful icons. 

    He bends his head in greeting, “Esteemed One, this is the iPhone you asked for. I had to bribe an Army official to fly the white one in from the Great Satan U.S.A.”

    The tall man looks at it and says, “Ahmed, you have done very well but my hatred for the Great Satan especially that Great Devil Steve Jobs prevents me from accepting your gift. But rest easy for I have another.” 

    The bearded man draws out a Samsung Galaxy S from within the folds of his robe. “See Ahmed, this one is made in Korea & runs on a free operating system from a company called Google whose motto is ‘Do no evil’.”

    Ahmed looks up in alarm and says, “Oh Great One, I’m afraid our bread is toast. Google is nothing but an advertising company collecting our location data to sell to American advertising agencies. Oh Wonder of the Firmament, our goose is cooked.”

    In the far distance the whine of a Hellfire missile fired from a Predator orbiting 10,000ft above can be heard…

    The last words of the tall rangy man are, “FUCK GOOGLE!!!”

  3. MUCH gratitude and kudos to our fine military men and women. Congrats to the Obama admin for handling this issue so well politically- we needed some good news. And redemption (finally) for the families of the men and women who lost their lives on that fateful day. My only fear now comes from the threat of retaliation. Although Bin Laden is dead, Al Queda is still alive and I’m sure they’ve found someone to replace Bin Laden either recently or long ago.

  4. Great to hear this.
    Osama’s death and the Royal Wedding has brought a needed mental distraction from all the weather related death and destruction here in the South.

  5. Job well done to the military for ALL their service and thank you for your sacrifice. Congratulations to President Obama and his Security Team and to the CIA and other agencies who have been tirelessly trying to track down this mass murderer. Congratulations to President Bush and his 8 years of the war on terror. Thanks to the interrogation crew down at Gitmo that obtained the lead, that led to watch a courier that led to the compound that led to Obama. Our Pakistani friends who enjoyed the 7.5 billion in aid failed to notice a fortress being built in 2005 that is less than 30 miles of their capital?! Yeah, that tax payer money was well spent!

    As President Bush said, “Wanted Dead or Alive”, the wheels of justice may turn slowly, but they turn and Bin Ladin’s cohort Ayman al-Zawahiri, look over your should you SOB, ‘cuz you’re next!

  6. No political crap here, bound to turn ugly so don’t start.

    Great job SEALs!!
    Lost a chopper in the mess, mechanical failure. But zero loss of life (our side).

    1. You can have your small commuter jet spun around by a French Airbus A380 whilst taxiing at JFK, because it turns out they fly the same way they drive a car, so losing a chopper in an active conflict situation because there wasn’t “enough air” (whatever that means) doesn’t seem like a big deal especially as no casualties were incurred.

      Also, I understand the US Navy ticks the Protected No Claims option on its insurance forms 🙂

      1. Not enough air is referring to a term known as “Power Settling”, “Settling with Power”, or “Vortex Ring State”. You can look up any of these terms on the internet for an explanation.

        1. I saw the “mechanical failure” was reported last night, they must have updated the stories since then.
          I didn’t bother reading any news today, outside mdn for my apple fix.

    1. Shall I iCal your prediction that the Obama is a shoe-in in 2012? Yes, I think I shall.

      His bump in the polls will be short-lived. Bush senior had an approval rating of 90% by the end of the Iraq War – which ended around the middle of his term, just like this happening in the middle of Obama’s term.

      Moreover, the intel came from Gitmo. The place Obama promised to shut down, but nevertheless did not. Yes, Obama’s policies have been nothing more than a continuation of Bush’s policies.

      But after the headiness of the present satisfaction dies down, reality will set back in, and, well, Obama will be toast, while the Tea Party will be dancing on his political grave.

      1. Bush failed miserably, and even downplayed the impotence of getting him. Obama now owns the true “mission accomplished”, Bush will be remembered as the guy who didn’t get bin Laden.

        Two things conservatives can take from this news: a) Obama succeeded where Bush failed, and the world will forever know it, and b) Obama gets another 4 years. Period. iCal all you like.

        1. Mission is hardly accomplished. I’ve been very impressed with how Obama has handled this. He could have, like you, gloated to no end, but he probably realizes that doing so would only enrage the terrorist followers even more. We’ve essentially stirred up a hornets’ nest, so in that sense, the killing of Bin Laden is bittersweet. As it stands now, we’re all at an elevated risk for retaliatory terrorist activities. And think about Obama’s wife and kids- they will be a target for the rest of their lives.

          I think the wise move by Obama WOULD BE to downplay Bin Laden’s death. It’s not like we took out Hitler, and destroyed an entire movement with it. Bin Laden is but one player among MANY in the world of terrorist organizations. And while it’s nice that we, as Americans, feel a sense of redemption (and certainly have the right to celebrate), this is certainly not the end of the mission, not even close.

          The intelligence that lead to Bin Laden’s death likely came from many sources, and credit will be given accordingly- we’ll find out in the upcoming weeks and months. But you’re a fool if you think that the policies that Bush had in place didn’t help in this matter. Politically this is nothing but good news for Obama, and much of the world will view it as such. It will help Obama’s ratings short-term and give a slight bump to our economy if for any other reason than people feel good and will likely spend a bit of money. Question will then become, can Obama keep the wave going? Only his policies will determine that.

        2. Mission Accomplished?! Hell, I’m still waiting for Gitmo to be closed that is now approaching the three year mark since Obama signed the document saying it will be closed by the end of his first year in office, which is now approaching the two year anniversary of THAT timetable!

          Mission Accomplished, yeah right! Obama it’s really need to learn that histry

    2. What was President’s George H. W. Bush’s poll numbers, approval ratings and standing among the American people after the Gulf War when we kicked Iraq out of Kuwait!…

      Obama a shoe-in? Hardly. While we celebrate today as we were united after 9/11, that euphoria will last about two weeks. Then high gas prices, high unemployment and the rest will rear it’s ugly head.

    3. Here we go with ignorant political crap.

      What policy was Obama using? Oh yeah… That’s right he inherited bush’s policies.

      And this was a CIA/military victory, not political. All Obama did was sign off on the op. I applaud him for it, but it was not his policy, and I give the CIA/military 99% of the credit.

      1. Bush would not send forces into Pakistan, our “ally” in the war on terror.

        Obama’s election opponents, including Dems, attacked him for saying, as President, he would stop coddling Musharef and if he had actionable intel that Bin Laden was in Pakistan and their gov wasn’t getting him, he would.

        Watch as McCain and Palin tear into him for it:

        It’s very clear that Obama’s decisions to refocus on Afghanistan, to carry the war into the Taliban safe havens in Pakistan, and elevate getting OBL to top priority, are all a clear departure from Bush’s policies.

      2. What Bubbles said …

        Also, reports say that it was Obama alone who suggested and then ordered the operation to be a boots on the ground mission to acquire proof of his death. All his advisors recommended bombing the compound. The military carried out his orders, but it was Obama who conceived the way it would be done.

  7. 😉

    That was the easiest teabag/gop bait, the fact that you all took so willingly it just shows you for the halfwitted fools you are, birthers have been silenced, are you teabaggers still waiting for the donald and palin to tell what to think next?

    LOL!!!

  8. PS: to my detractors jdoc, Now, now etc. PLEASE show me where I ever said “Mission Accomplished”? You can’t because I didn’t. Only a half witted arrogant conservative would say such foolish things.

    LOL!!!

    Obama in 2012!!!!!!!!!!!!!!!!

  9. Obama will not be reelected. Deal with it.

    Getting Osama was always about knowing where he is. It was never a matter of where will you go or what will you do once you know his location. The intel for this came from Gitmo – that place that Obama and every friggin’ liberal on planet Earth were always hyperventilating about wanting to close down.

    Bush set up Gitmo. Gitmo, and Bush, are vindicated. Deal with it. And some of the public statements Bush made later on about getting Bin Laden were strategic – meant solely for public consumption – in order to misdirect and sandbag that terrorist s.o.b.

    The only credit you can give Obama is in not screwing the pooch on this like Clinton did – and Obama had the benefit of hindsight, and of the fact the intelligence for this finally became ripe. It’s like the proverbial rooster trying to claim credit for the sun coming up.

    Again, Obama is outta here in 2012. And good riddance to that piece of human debris.

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