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Stock gains are held in check by Syria concerns

Sep. 04, 2013 @ 12:00 AM

NEW YORK -- The stock market logged modest gains Tuesday as renewed worries about a U.S.-led attack on Syria dampened an early rally.

Stocks surged in the opening minutes of trading as worries of an imminent attack on Syria appeared slimmer after President Barack Obama announced over the weekend that he would seek congressional approval for a strike.

The stock market gave much of its early gain after the top Republican in Congress said he would support President Obama's call for the U.S. to take action. Speaking in the late morning, House of Representatives Speaker John Boehner said the use of chemical weapons must be responded to.

The Dow Jones industrial average closed up 23.65 points, or 0.2 percent, to 14,833.96. The index had climbed as much as 123 points in early trading.

The Dow was held back by Microsoft and Verizon, which both slumped after announcing deal news.

The Standard & Poor's 500 index gained 6.80 points, or 0.4 percent, to 1,639.77. The Nasdaq composite climbed 22.74 points, or 0.6 percent, to 3,612.

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