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Snapshot: Worries over Syria pare day’s early gains

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The market logged modest gains, though worries about a US-led attack on Syria dampened an early rally. Stocks surged in the opening minutes as the odds of an imminent attack seemed slimmer after President Obama said he’d seek congressional approval. News that manufacturing expanded last month at the fastest pace since June 2011 helped. But much of the gain was lost as Congress’s top Republican said he supports Obama’s call for action. The Dow was also held back by Microsoft (down 4.6%) and Verizon (off 2.9%); both had announced major corporate deals. And investors are still fretting about when the Fed will cut its stimulus.

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