All three indexes ended the trading day higher, but pulled back from earlier highs when leaders in the House of Representatives said they would support President Obama's plan for a U.S.-led strike on Syria.
Tech takeovers: The two deals announced over the Labor Day weekend are set to transform the technology industry.
In the second-biggest merger ever, Verizon (Fortune 500) said it will pay $130 billion to take full control of , Vodafone, and Microsoft (Fortune 500) said it was buying , Nokia's ( )mobile phone business for $7.2 billion.
Good economic data: Manufacturing data gave investors additional signs of a global economic rebound. Manufacturing data in the U.S. showed stronger expansion in the sector. Over the long weekend, investors also saw better-than-expected manufacturing reports out of Europe and Asia.
Buyers losing out: Microsoft and Verizon -- the two major acquirers over Labor Day weekend -- saw shares sputter when investors greeted their respective deals.
Shares of Microsoft dropped 5% following the deal announcement, while Nokia's shares soared. Traders on StockTwits mocked Microsoft's poor performance in the mobile phone space and thought Blackberry ( might be as worthy of a takeover as Nokia. (Alternately, )Oracle (Fortune 500) might consider taking over Blackberry.) ,
Verizon's stock dropped roughly 4% following the buyout. Traders on StockTwits were wary of the deal.
End of cable drama: Investors liked the agreement between Time Warner Cable (Fortune 500) and , CBS (Fortune 500), which will end a month-long blackout and restore CBS programming to about 3 million viewers. Both stocks rose Tuesday. ,
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|Overnight Avg Rate||Latest||Change||Last Week|
|30 yr fixed||4.48%||4.52%|
|15 yr fixed||3.50%||3.54%|
|30 yr refi||4.48%||4.51%|
|15 yr refi||3.49%||3.53%|
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