Stocks set to rise following bin Laden's death

By Chip Cutter

Associated Press

Published: Monday, May 2 2011 6:25 a.m. MDT

Rachel Mueller, who is married to U.S. Army Staff Sgt. Kurt Mueller, who returned last year from a deployment to Iraq, holds a copy of the Wall Street Journal with a photo of Osama Bin Laden on it it as she waves a flag on the "Freedom Bridge" just outside Joint Base Lewis-McChord, around midnight, Sunday, May 1, 2011, near Tacoma, Wash. The death of al-Qaida leader Osama bin Laden has helped lift the mood in the markets all around the world Monday, May 2, at the start of an extremely busy week of economic news.

Ted S. Warren, Associated Press

Enlarge photo»

NEW YORK — Wall Street appears headed for a higher opening following the death of Osama bin Laden and several strong earnings reports and ahead of more data on the U.S. economy.

President Barack Obama said late Sunday that bin Laden, the man who inspired the Sept. 11, 2001 attacks, had been killed in a firefight with American forces in Pakistan. That sent the dollar lower as investors ventured into riskier assets.

In corporate news, Humana, Dish Network and Chrysler all reported strong quarterly earnings. The Institute of Supply Management's index of manufacturing activity is also expected to show that manufacturing activity increased in April.

Ahead of the opening, Dow Jones industrial futures are up 70, or 0.6 percent, at 12,826. Standard & Poor's 500 futures are up 7, or 0.5 percent, at 1,367.

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