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Rally continues...China news boosts oil prices... Illinois court invalidates Internet sales tax law

Saturday - 10/19/2013, 1:20pm  ET

NEW YORK (AP) -- The S&P 500 index is now in record territory after weeks of concern on Wall Street over the government shutdown and debt-ceiling crisis. Investors shifted their focus from Washington politics to business profits yesterday and liked what they saw. The S&P 500 added 11points, to a record 1,744. The Dow rose 28 points and the Nasdaq climbed 51.

NEW YORK (AP) -- Oil traders are pleased with a bounce in China's economic growth. As a result, the price of oil posted a slight gain Friday. Benchmark crude for November delivery rose 14 cents, settling at $100.81 in New York. Figures released by the Chinese government show that the world's second-largest economy grew by an annual 7.8 percent in the third quarter of the year.

SPRINGFIELD, Ill. (AP) -- It's the first time a court has invalidated an Internet sales tax law among the 18 states that have them. The Illinois Supreme Court threw out a law Friday that taxes certain Internet sales, saying the so-called "Amazon tax" violates federal rules against "discriminatory taxes" on digital transactions. Store-based retailers want Congress to start regulating taxes on web sales.

ANCHORAGE, Alaska (AP) -- Alaska's king crab fishery, made famous by the Discovery Channel reality show "Deadliest Catch," is finally moving into full swing after furloughed federal workers returned and began issuing the necessary permits. Some crab boats that were docked in Alaska's Dutch Harbor didn't waste any time and headed out into the Bering Sea on Thursday night.

HARTLAND TOWNSHIP, Mich. (AP) -- Wal-Mart says it's offering back a job for a Michigan worker who says he was fired when he tried to help a woman being assaulted in a store parking lot. A Wal-Mart spokeswoman says messages have been left for Kristopher Oswald to "welcome him back" to the Hartland Township store. Oswald had been fired by Wal-Mart for violating company policy.

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