Obama: Osama bin Laden is Dead (UPDATE)

U.S. President Barack Obama announced late Sunday evening that Osama Bin Laden, a terrorist on the FBI's 10 Most Wanted List, is dead. "Tonight, I can report to the American people and to the world that the United States has conducted an operation that killed Osama bin Laden, the leader of al Qaeda, and a terrorist who's responsible for the murder of thousands of innocent men, women, and children." According to the Anti-Defamation League, "Al Qaeda was founded in 1988 by Osama bin Laden to consolidate the international network he established during the Afghan war. Its goals were the advancement of Islamic revolutions throughout the Muslim world and repelling foreign intervention in the Middle East." Purported to have been born in 1957, Bin Laden was of Saudi Arabian descent. Obama: "Today, at my direction, the United States launched a targeted operation against that compound in Abbottabad, Pakistan. A small team of Americans carried out the operation with extraordinary courage and capability. No Americans were harmed. They took care to avoid civilian casualties. After a firefight, they killed Osama bin Laden and took custody of his body." He was wanted in connection with the August 7, 1998, bombings of the United States Embassies in Dar es Salaam, Tanzania, and Nairobi, Kenya. These attacks killed over 200 people. In addition, Bin Laden is a suspect in other terrorist attacks throughout the world, including the September 11 attacks. The Rewards For Justice Program, United States Department of State, was offering a reward of up to $25 million for information leading directly to the apprehension or conviction of Bin Laden. The Anti-Defamation League notes that "Bin Laden, son of a billionaire Saudi businessman, became involved in the fight against the Soviet Union's invasion and occupation of Afghanistan, which lasted from 1979 to 1988 and ended with a Soviet defeat at the hands of international militias of Muslim fighters backed by the U.S., Saudi Arabia and Pakistan." Obama continued: "The American people did not choose this fight. It came to our shores, and started with the senseless slaughter of our citizens. After nearly 10 years of service, struggle, and sacrifice, we know well the costs of war. These efforts weigh on me every time I, as Commander-in-Chief, have to sign a letter to a family that has lost a loved one, or look into the eyes of a service member who's been gravely wounded. So Americans understand the costs of war. Yet as a country, we will never tolerate our security being threatened, nor stand idly by when our people have been killed. We will be relentless in defense of our citizens and our friends and allies. We will be true to the values that make us who we are. And on nights like this one, we can say to those families who have lost loved ones to al Qaeda's terror: Justice has been done." U.S. equity futures are higher Monday morning, as Japanese and European shares gained. U.S. stocks are expected to open higher today.