Issue link: http://www.epageflip.net/i/21234
8B – Daily News – Saturday, December 11, 2010 Furniture Depot 235 So. Main St., Red Bluff 527-1657 MON.-FRI. 9:00-6:00 SAT. 9:00-5:00 • SUN. 11:00-5:00 NEW YORK (AP) — An encouraging trade report and signs that a tax cut package would pass the Senate sent stocks to their highest levels in two years Friday. Bond prices fell for another day as investors expected the tax deal to lead to economic growth and higher budget deficits. The Commerce Department reported that the U.S. trade deficit fell to its lowest level in nine months in October. Growing demand for American goods overseas pushed exports to their highest level in more than two years. Separately, the Treasury Department said the federal gov- ernment’s budget shortfall hit $150.4 billion in November. Trea- sury prices dropped after the report was released, pushing their yields higher. The yield for the 10- year note rose to 3.33 percent, up from 3.21 percent late Thursday. The Standard & Poor’s 500 index rose 7.40, or 0.6 percent, to 1,240.40. It was the third straight day that the S&P index closed at a new high for the year. The index has gained 11.2 percent this year and is now trading at the same price it did the week before Lehman Brothers filed for bank- ruptcy in September 2008. The Dow Jones industrial average rose 40.26, or 0.4 per- cent, to 11,410.32. General Elec- PUMPKINLAND Chocolate Company Complete line of Sweets & Holiday Candy made by the Chocolatier. Gift Trays & Gift Boxes Complete selection of dark and milk chocolates including sugar free Stocking Stuffers 12000 Hwy. 99E (5 miles South of Red Bluff) 530 527-3026 Open: Sun-Thurs 9am-6pm Fri & Sat 9am-8pm tric Co. led the 30 stocks that make up the index with a 3.4 per- cent jump to $17.72. GE said it planned to raise its dividend by 17 percent. Recliner Sale Starting at $29900 NEW shipment just arrived Stocks edge higher on encouraging economic signs Wall Street and other forms of alternative energy. A test vote was set for Monday. The Nasdaq composite index rose 20.87, or 0.8 percent, to 2,637.54. The Dow was the weakest of the three main stock average for the week, gaining just 0.3 per- cent. The S&P 500 added 1.3 percent and the Nasdaq rose 1.8 percent. Investors were encouraged to see that prospects were improv- ing that the Senate would approve legislation aimed at avoiding sweeping tax increases Jan. 1. Negotiators added a few sweeteners to promote ethanol House Democrats have balked at the proposal to extend tax cuts, voting in a closed-door meeting Thursday not to allow the pack- age to reach the floor for a vote without changes to scale back tax cuts for the rich. Tom di Galoma, head of fixed income trading at Guggenheim Partners in New York, said traders see passage of the deal as nearly inevitable. ‘‘To stimulate the economy, it really has to be done,’’ he said. ‘‘The last thing you want to do is raise taxes in the middle of a recession.’’ On the off chance it failed, di Galoma said, stocks would prob- Cablevision Systems Co., F5 Networks Inc. and Newfield Exploration Co. were added to the S&P 500 as well. The index dropped The New York Times Co., Eastman Kodak Co. and Office Depot Inc. Two stocks rose for every one that fell on the New York Stock Exchange. Consolidated volume was 4.6 billion shares. Christmas Special December 16, 17 & 18 50%off Clarks Floral inside Clark’s Drug Store 2126 Solano St., Corning 824-3502 22755 Antelope Blvd. Red Bluff, CA 96080 (530) 527-9166 ably lose the gains made over the past two weeks. Treasurys would jump, causing their yields to plummet. Movie rental company Netflix Inc. rose 1.9 percent to $194.63 after Standard and Poor’s added it to the S&P 500 index. The com- pany has gained 250 percent this year. Open Mon. thru Sat. 10am – 6pm Put us on your Christmas List! Gift Certificates Available Stocking Stuffers Also Carrying Used Equipment & Trays CHRISTMAS BOUTIQUE for Red Bluff Garden Club SCHOLARSHIP Tehama County High Schools 216 Pine St. Red Bluff Victorian House, corner of Rio & Pine ALL FRESH WREATHS, ARRANGEMENTS AND MORE 9:30 a.m., to 6:00 p.m. for Custom Wreaths & Designs Call 527-4578 or 526-4578 Dec. 9, 10 & 11 Thu.-Fri.-Sat.