Stocks flat...Oil prices fall on Iran deal...FDA lifts safety limits on Avandia

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Associated Press

Posted on November 25, 2013 at 6:02 PM

NEW YORK (AP) — The stock market has ended the day's trading relatively flat. The Dow rose eight points to close at 16,073, while the S&P 500 eased back two points to 1,802. The Nasdaq rose three points to 3,995. News of a deal to curtail Iran's nuclear ambitions had traders anticipating more supply and lower oil prices, making the energy sector the biggest decliner in the S&P 500.

NEW YORK (AP) — Oil prices fell today and could be headed lower after Iran and six world powers struck a preliminary deal over Tehran's nuclear program. The deal does not call for sanctions to be loosened on Iran's oil exports but investors are betting that could be coming. Benchmark U.S. crude for January delivery fell 75 cents -- closing at $94.09 a barrel on the New York Mercantile Exchange.

WASHINGTON (AP) — The Food and Drug Administration is lifting severe safety restrictions on Avandia. The diabetes pill had been the best-selling diabetes drug in the world, but sales began plummeting in 2007 after researchers first raised questions about possible links to heart attacks. The FDA says more recent data suggests that Avandia does not increase the risk of heart attack. Repeal of the restrictions means patients will no longer have to enroll in a special registry to be eligible to receive the drug.

WASHINGTON (AP) — The Food and Drug Administration is ordering the company 23andMe to halt sales of its personalized DNA test kits. The Google-backed company claims its genetic tests identify health risks for more than 250 diseases and health conditions. But the FDA says the company has failed to show that the technology is backed by science.

ATLANTIC CITY, N.J. (AP) — New Jersey gambling regulators have given six casinos permission to begin statewide Internet gambling. The casinos can begin offering round-the-clock online gambling effective immediately. New Jersey began a five-day trial period of online gambling last week to test the complex technology involved and determine whether the systems are ready for the entire state to play. Regulators say a seventh casino, the Golden Nugget, has work to do before it can join the others.

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