UNDATED (AP) — Stocks are closing higher after the Federal Reserve said the economy is doing well enough for it to make further reductions to its stimulus program. It was the fourth straight gain for stocks and another record-high close for the S&P 500. The index rose 15 points to close at 1,957. The Dow Jones industrial average added 98 points to 16,906. The Nasdaq gained 25 points to 4,362.
UNDATED (AP) — The price of American crude oil is down. It fell below $106 per barrel today for the first time in a week on higher than expected supplies, though global crude rose to a 9-month high as violence in Iraq continues. Benchmark U.S. crude for July delivery fell 39 cents to close at $105.97 in New York. But Brent crude rose 81 cents to close at $114.26 a barrel in London.
WASHINGTON (AP) – The Internal Revenue Service is offering to waive steep penalties for Americans living abroad who haven’t been paying their U.S. taxes. But there is a catch: You have to be able to show that you didn’t evade U.S. taxes on purpose. American citizens living abroad are required to file U.S. tax returns, even if they keep all their money overseas.
NEW YORK (AP) — A New York judge says Argentina’s debt-swap plan to dodge repayment of its defaulted bonds to U.S. hedge funds would violate his court orders. But Judge Thomas Griesa declined to grant the hedge funds a more sweeping order. Argentina is required to pay the funds $1.5 billion for defaulted bonds by the end of this month.
ATLANTIC CITY, N.J. (AP) — New Jersey’s top casino regulator says his agency will begin talks with the Canadian company that’s buying the PokerStars online gambling website. The talks are aimed at getting the world’s largest Internet poker website licensed in the state. Amaya Gaming Group is buying PokerStars and Full Tilt Poker for $4.9 billion.
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