Need to Know News: JPMorgan suffers big loss; Missing sisters safe while alleged captor dead

Each day, we here at "Piers Morgan Tonight" put together the news you need to know – from what happened last night to what will happen today.

For May 11, 2012 – JPMorgan loss to rattle stocks, missing sisters safe while the alleged captor is dead and Reese Witherspoon's parents in bigamy dispute...

• JPMorgan loss rattles stocks: "A sell-off in financial shares rattled the broader U.S. stock market Friday after banking giant JPMorgan said it would suffer a $2 billion trading loss. The Dow Jones industrial average (INDU) was down 40 points, or 0.3%, in early trading. The S&P 500 (SPX) fell 3 points, or 0.2%, while the Nasdaq (COMP) bucked the trend, rising 6 points, or 0.2%."

• Fugitive dead; two sisters alive: "Two young girls kidnapped from Tennessee were found alive in a wooded area of Mississippi, while their alleged captor, Adam Mayes, died after shooting himself in the head, authorities said."

• Obama team lay in wait for Mitt Romney: "With Mitt Romney's victories in the April 24 Republican primaries, a new phase of the campaign began at Obama re-election headquarters in Chicago. After a year spent hiring staff and building an organization, Obama for America finally had what it had been waiting for: an opponent."

• Demonstrators in Manila protest China's stance over disputed lagoon: "Scores of people in the Philippine capital held a demonstration Friday to protest China's increasingly bellicose rhetoric about a monthlong naval standoff between Beijing and Manila over a disputed lagoon in the South China Sea."

• Reese Witherspoon's parents in bigamy dispute: "Reese Witherspoon's mother wants a Tennessee judge to annul her husband's recent marriage because she says she is still married to him, according to court documents."

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