Stocks Up, Oil Down on bin Laden News

Dow up 50
By Kevin Spak,  Newser Staff
Posted May 2, 2011 10:25 AM CDT
Stocks Up, Oil Down on bin Laden News
In this April 19, 2011 photo, traders work on the floor of the New York Stock Exchange in New York.   (AP Photo/Kathy Willens)

News of Osama bin Laden’s death cheered markets today, with the Dow gaining 50 points, and the S&P and Nasdaq rising 4 points and 8.5 points, respectively, Politico reports. Oil futures meanwhile, fell 2%, and the dollar rose. The gains followed similar increases in Japan and South Korea overnight. Click to read more. (More stock market stories.)

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