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Stocks edge higher... Oil prices climb ... FDA approves infection-fighting drug

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NEW YORK (AP) — Traders are continuing to push stock indexes higher. Oil and gas companies led the stock market up Friday, helping the Standard & Poor's 500 index notch its second-best week this year. The S&P 500 gained nine points to 2,070, bringing its weekly gain to 3.4 percent. The Nasdaq picked up 17 points to 4,765 and the Dow rose 26 ½ points, to 17,804.

NEW YORK (AP) — Oil traders are betting that a six-month plunge in prices has gone too far. Yesterday, benchmark U.S. crude bounced up from recent lows, climbing $2.36 to settle at $56.52 a barrel in New York. Elsewhere, Brent crude, a benchmark for international oils used by many U.S. refineries, rose $2.11 to close at $61.38 in London.

WASHINGTON (AP) — President Barack Obama is renewing dozens of costly tax breaks for millions of businesses and individuals. He signed legislation today that extends the breaks through Dec. 31. Taxpayers will be able to claim them on their 2014 income tax returns. But the fate of the tax provisions beyond this year will again be uncertain.

WASHINGTON, D.C. (AP) — The Food and Drug Administration is approving a new combination medicine to fight complex infections in the abdomen and urinary tract. The approval of Zerbaxa (SER'-bak-suh) is the second antibiotic approval this year for Cubist Pharmaceuticals, which agreed earlier this month to be acquired for $8.4 billion by Merck & Co.

DOVER, Del. (AP) — A Delaware judge says stockholders of Family Dollar Stores can vote on proposed $8.5 billion acquisition by Dollar Tree. Shareholders are to vote on the acquisition Tuesday. But some Family Dollar shareholders want the vote postponed until the board reviews a deal with Dollar General, which has also bid for Family Dollar. The judge ruled that Family Dollar's board acted reasonably in not negotiating with Dollar General.

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