US stocks rose in trading overnight but were far off session highs after top Republicans voiced support for President Barack Obama's call for military strikes against Syria. The S&P500 rose more than 1% in early trading after Obama sought congressional authorisation before taking military action, a move seen likely to shelve any strike until at least September 9. The S&P500 fell 1.8% last week due to uncertainty over what appeared to be the likelihood of imminent strike. John Boehner, the top-ranking Republican in the US House of Representatives, and House Majority Leader Eric Cantor pledged on Tuesday their support for military action against Syria to punish President Bashar al-Assad for his suspected use of chemical weapons against civilians. The S&P500 finished the session 0.42% higher at 1,639.77 while the Dow rose 0.16% to 14,833.96.
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