Possible strikes in Syria rattle investors

Written By limadu on Rabu, 04 September 2013 | 21.29

NEW YORK (CNNMoney)

The Dow Jones industrial average, the S&P 500, and the Nasdaq all traded flat.

Obama is seeking approval from Congress to carry out a military strike after saying U.S. intelligence showed that Syria used chemical weapons which killed more than 1,400 people.

Several key Democrats and Republicans have thrown their support behind Obama's plan in recent days, though a number of hurdles must still be overcome before the U.S. can take military action.

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All three indexes ended with gains on Tuesday, but had pulled back from earlier highs when leaders in the House of Representatives said they would support President Barack Obama's plan for a strike on Syria.

Related: Impact of war on stocks and oil

While investors are more likely to focus their attention on the situation in Syria Wednesday, there are a number of economic reports that could influence market sentiment.

August auto sales will be reported throughout the day. At 2 p.m. ET, the Federal Reserve will release its Beige Book, a report summarizing economic conditions in the country.

Related: Fear & Greed Index sinks into extreme fear

What's moving: Shares of LinkedIn (LNKD) fell more than 2% after the job search website announced plans to sell $1 billion worth of stock in a secondary offering.

Shares of JCPenney (JCP, Fortune 500) rose after two hedge funds -- Hayman Capital and Glenview Capital-- announced new stakes in the struggling retailer.

H&R Block (HRB) shares fell after missing analyst expectations.

Shares of Dollar General (DG, Fortune 500) rose, after the retailer wowed Wall Street with its second quarter results.

European markets moved lower, while Asian markets ended the day mixed. To top of page

First Published: September 4, 2013: 9:43 AM ET


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