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6B Daily News – Wednesday, September 4, 2013 Stocks end slightly higher after rally fades NEW YORK (AP) — The stock market rose modestly 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 traders felt that a U.S. attack on Syria wasn't imminent after President Barack Obama announced over the weekend that he would seek congressional approval for a strike. But the early rally faded 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. ''Key Republicans seem to agree with Obama on Syria,'' said JJ Kinahan, chief derivatives strategist for TD Ameritrade. ''It puts us in a difficult situation as to what might happen from here.'' 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 also held back by Microsoft and Verizon, which both slumped after announcing deals. 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. The stock market also got an early boost from a report showing that U.S. manufacturing expanded last month at the fastest pace since June 2011. The report was better than economist had expected, according to estimates compiled by data provider FactSet. In corporate news, CBS surged $2.40, or 2.7 percent, to $53.50 after the broadcaster and Time Warner Cable reached an agreement that ended a blackout of CBS and CBS-owned channels such as Showtime. Other corporate news was disappointing. Microsoft fell $1.52, or 4.6 percent, to $31.88 after the software company said it would acquire Nokia's smartphone busi- ness and a portfolio of patents and services. Microsoft is trying to capture a slice of the lucrative mobile computing market that is dominated by Apple and Google, and investors are concerned that Microsoft won't succeed. Verizon fell $1.37, or 2.9 percent, to $46.01 after the company agreed to pay $130 billion for Vodafone's stake in Verizon Wireless. After a tough August, stocks may struggle to rally in September because of a string of events that could shake investors, said Randy Frederick, managing director of active trading and derivatives at the Schwab Center for Financial Research. The S&P 500 logged its worst performance since May 2012 last month as investors fretted about when the Federal Reserve will cut its economic stimulus. The Fed's next meeting, which starts Sept. 17, is when many on Wall Street think the central bank will begin winding down its massive bond-buying program. In government bond trading, the yield on the 10-year Treasury note climbed to 2.86 percent from 2.79 percent Friday. U.S. markets were closed Monday for Labor Day. In commodities trading, the price of oil rose 89 cents, or 0.8 percent, to $108.54. The price of gold rose $15.90, or 1.1 percent, $1,412 an ounce. WORLD BRIEFING Bomb blasts hit Baghdad BAGHDAD (AP) — A series of coordinated evening blasts in Baghdad and other violence killed at least 67 people in Iraq on Tuesday, officials said, the latest in a months-long surge of bloodshed that Iraqi security forces are struggling to contain. Many of those killed were caught up in a string of car bombings that tore through the Iraqi capital early in the evening as residents were out shopping or heading to dinner. Those blasts struck 11 different neighborhoods and claimed more than 50 lives in a span of less than two hours. The killing comes amid a spike in deadly violence in recent months as insurgents try to capitalize on rising sectarian and ethnic tensions. The scale of the bloodshed has risen to levels not seen since 2008, a time when Iraq was pulling back from the brink of civil war. The evening's deadliest attack happened when two car bombs exploded near restaurants and shops Baghdad's northeastern suburb of Husseiniyah, a Shiite area, killing nine people and wounding 32. A row of restaurants was also hit in the largely Shiite eastern neighborhood of Talibiyah, killing seven and wounding 28. Another car bomb hit the nearby Shiite neighborhood of Sadr City, killing three and wounding eight, according to police. Militants turn Egypt's Sinai into a new front CAIRO (AP) — An Egyptian doctor once close to Osama bin Laden is bringing together multiple al-Qaida-inspired militant groups in Egypt's Sinai to fight the country's military, as the lawless peninsula emerges as a new theater for jihad, according to Egyptian intelligence and security officials. There have been other signs of a dangerous shift in the longtime turmoil in the peninsula bordering Israel and the Gaza Strip since the military's July 3 ouster of Islamist President Mohammed Morsi, the officials say. With the shifts, Sinai's instability is becoming more regional- ized and threatens to turn into an outright insurgency. Sinai has seen an influx of foreign fighters over the past two months, including several hundred Yemenis. Several militant groups that long operated in the area to establish an Islamic Caliphate and attack their traditional enemy Israel have joined others in declaring formally that their objective now is to battle Egypt's military. Also, Sinai has become the focus of attention among major regional jihadi groups. A leader of alQaida's Iraqi branch, Abu Mohammed al-Adnani, last 741 Main Street, Suite #2 Red Bluff, CA 96080 1-800-287-2187 (530) 527-2187 An Independently owned and operated Member of Coldwell Banker Residential Affiliates. 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