Bin Laden death has little impact on U.S. market

After rising at the open, the Dow Jones Industrials reversed late in the session to finish down 3 points at 12,807 despite the news that Osama Bin Laden had been killed by a SEAL military operation in Pakistan. Fears grow about reprisal attacks as revenge for the death of Al Qaeda's leader. The UK market was closed due to the Bank Holiday. Markets have been climbing the "wall of worry" in recent weeks as a result of positive earnings news but what will propel the indices higher in the short term is less clear.

Earnings news continue to pile in, with 76 percent of the 302 S&P 500 companies that have reported first-quarter earnings so far beating expectatios.