Stock-index futures were higher ahead of Monday’s (5/2) market opening, and commodity prices dipped in the wake of the confirmed death of terror leader Osama bin Laden in a U.S. military special-operations raid. Stocks were modestly higher just after the opening bell as analysts predicted a “feel-good rally” would permeate market sentiment for at least the short term.
Just after the closing bell of the New York Stock Exchange, however, all major stock indices were modestly lower as was crude oil, while precious metals were down sharply for the day.
But what about the longer term?TV talking heads and military analysts were unanimous in saying that al-Quaeda surely would mount a new wave of strikes against Western targets for several reasons: to exact revenge for bin Laden’s death, to prove its continued relevance as a force of radical Islamic terror, and to try to determine who will emerge as the new face of terrorist leadership.
If that happens, isn’t it logical that stocks would pull back and commodities, especially oil, might surge in response? What do you think? Join the conversation here.