US Equity Market Set to Post Smart Gains

Mumbai, May 2: Though the international market showed a muted response to the positive news that Osama bin Laden was killed by U.S. forces, it will definitely help the U.S. equity markets to gain.

Addressing the country on Sunday night, President Barack Obama called Osama's death, "the most significant achievement to date in our nation's effort to defeat al-Qaeda."

On this upbeat occasion, it is widely expected that the U.S. stocks will witness higher opening on Monday, as investors will cheer the news that Osama bin Laden was killed by U.S. forces.

Dow Jones industrial average, S&P 500 and Nasdaq, all saw their futures went up. Futures measure current index values against perceived future performance. Along with this the futures of Oil for June delivery slipped USD 2.54 to USD 111.40 per barrel.

The market has gained since the beginning of the year (2011) because of strong earnings being reported. Despite jitters over the economy and concerns about high inflation, April seemed to be the best month for the three major indices since December.

European stocks rose slightly in morning trading. The DAX in Germany rose 0.9% and France's CAC 40 edged higher 0.4%. Meanwhile, Japan's Nikkei jumped 1.57% higher at the end of the session.

OneIndia News