Stock market rises as Syria strike waits for vote

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05:15 AM September 4th, 2013

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September 4th, 2013 05:15 AM

United Nations High Commissioner for Refugees, UNHCR, Portuguese Antonio Manuel de Oliveira Guterres, informs the media about the two million Syrian refugees during a press conference at the European headquarters of the United Nations in Geneva, Switzerland, Tuesday, Sept. 3, 2013. AP

NEW YORK — The stock market is rising on the first trading day since President Barack Obama announced that he would seek congressional approval for a military strike against Syria.

The Dow Jones industrial average was up 23 points, or 0.2 percent, to 14,833 shortly before noon Eastern Daylight Time Tuesday.

The Standard & Poor’s 500 index rose eight points, or 0.5 percent, to 1,641. The Nasdaq composite rose 27 points, or 0.8 percent, to 3,617.

Many expected Obama to order strikes immediately and independently of Congress, but on Saturday he said that he would put a vote before lawmakers when they return from summer recess.

Microsoft fell $2.04, or 6 percent, to $31.36 after the company said it would buy Nokia’s smartphone business and a portfolio of patents.

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