Stocks rise, oil falls as Syria threat fades
NEW YORK (AP) — Stocks are rising on Wall Street and the price of crude oil is falling after Syria agreed to give up its chemical weapons.
The Dow Jones industrial average was up 81 points, or 0.5 percent, to 15,144 as of noon Tuesday.
The Standard & Poor’s 500 index rose eight points, or 0.4 percent, to 1,679 and the Nasdaq composite rose 16 points, or 0.4 percent, to 3,722.
The price of crude, which closed above $110 a barrel on Friday, lost $2.51, or 2.2 percent, to $107 a barrel.
Syria has accepted Russia’s proposal to place its chemical weapons under international control so they can be dismantled. The West has accused Syrian President Bashar Assad of using the weapons on civilians in the country’s civil war.