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U.S. stocks were poised for a higher open Monday, as investors cheer news that Osama bin Laden was killed by U.S. forces.
The founder and leader of al Qaeda, Osama bin Laden, was killed by U.S. forces in Abbottabad, north of Pakistani capital of Islamabad.
Meanwhile, oil prices retreated with crude for June delivering sliding $1.37, or more than 1%, to $112.56 a barrel.
Gold prices also backed off their highs Monday. Gold futures for June delivery fell $5.70 to $1,550.70 an ounce, after hitting an intraday high of $1,577.40 an ounce.
Economy: Wall Street will get the Institute for Supply Management's April manufacturing index, as well as construction spending figures from the Commerce Department, both out at 14:00 GMT.
Economists expect the April ISM index will fall to a reading of 58.5 from March's 61.2, while construction spending figures are expected to fall 0.5%.
Companies: The Nasdaq-100 index will be rebalanced to reduce the weight of Apple's stock by about 40%. Apple (AAPL, Fortune 500) currently represents 20.5% of the index. After the rebalancing, Apple's weight will be reduced to 12.3%.
Shares of TiVo (TIVO) were up almost 18% in premarket trade after DISH Network Corporation (DISH, Fortune 500) and EchoStar Corporation (SATS) announced they will pay TiVo $500 million to settle an ongoing patent dispute.
Separately, DISH reported earnings per share of $1.22 for the quarter ended in March, easily topping forecasts. Also, DISH said it gained approximately 58,000 net subscribers during the quarter. Shares of DISH were up almost 8% in premarket trade.
The price on the benchmark 10-year U.S. Treasury dipped, pushing the yield up to 3.31%
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