The US markets rallied on Tuesday following the news that Syria would hand over its chemical weapon stockpiles, potentially avoiding the US committing itself to a military conflict in the already volatile Middle East region. In mid-afternoon trading, the Dow, Nasdaq and S&P 500 were all in positive territory.
Apple (NASDAQ:AAPL) shareholders were selling this afternoon after the long-awaited event to unveil new products was a showcase of lower price models. While Tim Cook's company may have lacked the "wow factor" many had hoped for, the lower priced phones will help Apple better penetrate the Asian markets.
In other corporate news, McDonald's (NYSE:MCD) reported that sales at locations open for more than a year grew by 1.9% globally in the month of August. Results in August were much stronger than the 0.7% increase seen in July, much of which can be attributed to the strong 3.3% gain in Europe.
Also on the minds of many investors today was the unexpected announcement that the Dow Jones Industrial Average had removed Bank of America (NYSE:BAC), Alcoa (NYSE:AA) and Hewlett-Packard (NYSE:HPQ) to replace them with Visa (NYSE:V), Nike (NYSE:NKE) and Goldman Sachs (NYSE:GS).
After the market closes, investors will have earnings reports from Restoration Hardware (NYSE:RH), Mill Energy (NYSE:MILL) and Oxford Industries (NYSE:OXM).
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