Stocks Closed Up Modestly, Microsoft Slumped

U.S. stocks closed modestly higher on Tuesday, with Microsoft Corp.(MSFT) and Verizon Communications Inc.(VZ) weighed on the Dow following major acquisitions by both industry giants, as the White House lobbied Congress to
approve U.S. military strikes against Syria. The Dow Jones Industrial Average rose 23.65 points, or 0.16%, to 14,833.96. The S&P 500 index added 6.80 points, or 0.42%, to 1,639.77. The Nasdaq Composite climbed 22.74 points, or 0.63%, to 3,612.61.

U.S. President Barack Obama won the backing of two top Republicans in Congress in his call for limited U.S. strikes on Syria to punish President Bashar al-Assad for his suspected use of chemical weapons against civilians.

Standard & Poor’s on Tuesday blasted a $5 billion fraud lawsuit by the U.S. government as retaliation for its 2011 decision to strip the country of its “AAA” credit rating.

Apple Inc(NSQ:AAPL) on Tuesday sent official invitations to a September 10 event at which it is expected to unveil the latest version of the iPhone, possibly in colors other than its trademark black and white.