Futures sharply higher, Syria strike put on hold

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Associated Press

Posted on September 3, 2013 at 5:01 AM

Updated Tuesday, Sep 3 at 5:33 AM

NEW YORK (AP) — Stock futures are sharply higher ahead of the first trading day since President Barack Obama announced that he would seek congressional approval for a military strike in Syria.

Dow Jones industrial futures are up 101 points to 14,896. S&P futures have added 14.5 points to 1,645.80. Nasdaq futures are up 22 points to 3,095.50.

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 recess Monday.

On Tuesday, CoreLogic posts its home-price report.

The government releases data on manufacturing and construction spending.

Microsoft will be talking about its $7.2 billion acquisition of assets from Nokia. Verizon, which announced a $130 billion buyout of Vodafone's stake in its U.S. cellular subsidiary, will also discuss that deal Monday.

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