Wall Street up as automakers, techs gain
NEW YORK (REUTERS) - United States (US) stocks rose for a second day on Wednesday as a possible military action in Syria was seen as limited and strong auto sales lifted investor confidence in the US economy.
The US Senate Foreign Relations Committee approved a resolution authorising a limited US military intervention in Syria, setting the stage for a debate in the full Senate next week on the use of military force.
The Obama administration is seeking support from Congress to punish Syrian President Bashar al-Assad's government over alleged use of chemical weapons on civilians. Markets have been on tenterhooks over possible spillover in the Middle East.
Shares of Ford and General Motors posted their best day of the year as US auto sales rose at their fastest pace in nearly six years in August. Ford jumped 3.5 per cent to $16.91 and GM added 5 per cent to $35.85.