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Bulls run again...Oil price rises... Gap releases May results

Thursday - 6/6/2013, 6:28pm  ET

NEW YORK (AP) -- The stock market is ending higher after another choppy day of trading. The Dow Jones industrial average rose 80 points to close at 15,040 today, a gain of 0.5 percent. Indexes slumped at midday, then rose through the afternoon. The Standard & Poor's 500 index rose 13 1/2 points to 1,622, a gain of 0.9 percent. The Nasdaq composite rose 22 1/2, up 0.7 percent.

UNDATED (AP) -- Oil is up. The price of crude rose to a high for the week today after a positive reading on the U.S. job market. Benchmark oil for July delivery gained $1.02 to finish at $94.76 a barrel in New York, the highest close since May 28. Meanwhile, natural gas plunged 17 cents, or 4.1 percent, to end at $3.83 per 1,000 cubic feet on a surprisingly large increase in U.S. supplies.

SAN FRANCISCO (AP) -- Gap Inc. says a key revenue figure rose 7 percent in May, more than expected, helped by strong results at its namesake and Old Navy chains. The company says customers reacted positively to summer clothing across all of its brands. Analysts expected revenue in stores open at least one year to rise 4.1 percent, according to a poll by Thomson Reuters.

WASHINGTON (AP) -- Federal health experts have recommended changing safety restrictions on GlaxoSmithKline's former blockbuster diabetes pill Avandia, in light of a new analysis suggesting that the drug may not increase the risk of heart attack as previously believed. A majority of Food and Drug Administration advisers voted to modify or remove measures that currently limit patient access to Avandia. The panel's vote is a recommendation to the FDA and is not binding.

LAWRENCE, Kan. (AP) -- The familiar three stripes of adidas will adorn Kansas apparel through at least 2019. The two agreed to renew their partnership in a deal worth in excess of $26 million. Kansas has worn adidas footwear, uniforms and accessories since 2005. The company has partnerships with about 70 college programs, including Notre Dame, Michigan, UCLA and Tennessee.


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