BUSINESS

Stock market gains as US strike on Syria waits for a vote; Microsoft falls after Nokia deal

09/03/2013 12:04 EDT | Updated 11/03/2013 05:12 EST
NEW YORK, N.Y. - 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 per cent, to 14,833 shortly before noon Eastern Daylight Time Tuesday.

The Standard & Poor's 500 index rose eight points, or 0.5 per cent, to 1,641. The Nasdaq composite rose 27 points, or 0.8 per cent, 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 per cent, to $31.36 after the company said it would buy Nokia's smartphone business and a portfolio of patents.