Stock market rises as Syria strike waits for vote

Associated Press
In this Tuesday, Aug. 27, 2013 photo, Luigi Muccitelli, center, works with fellow traders on the floor of the New York Stock Exchange. (AP Photo/Richard Drew)
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NEW YORK (AP) — 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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