Red Bluff Daily News

December 06, 2013

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Friday, December 6, 2013 – Daily News 5A Stocks fall on Wall Street; Retailers slump NEW YORK (AP) — The outlook for hiring is improving and the economy is growing at its fastest pace in more than a year, so what's the bad news for the stock market? Stocks fell Thursday after the government reported that the number of Americans applying for unemployment benefits dropped to the lowest in nearly six years last week. Also, the U.S. economy grew at a 3.6 percent annual rate from July through September, the fastest since early 2012. Investors believe the encouraging signs from the economy will push the Federal Reserve closer to pulling back on its $85 billion-a-month bond-buying program. That stimulus, which is intended to hold down interest rates, has been helping to power this year's record-setting run in the stock market. The losses put the Standard & Poor's 500 index on track for its fifth loss in a row, matching its longest losing streak since September. ''If they do cut the bond purchases, the knee-jerk reaction for the market Wall Street will be to move down,'' said Chris Gaffney, a senior market strategist at EverBank. The S&P 500 index dropped eight points, or 0.5 percent, to 1,784, as of 3:12 p.m. Eastern. The Dow Jones industrial average fell 69 points, or 0.4 percent, to 15,819. The Nasdaq composite was down 11 points, or 0.3 percent, at 4,035. Earlier in the week, there were strong reports on manufacturing and construction. Investors will get more insight into how the U.S. economy is doing on Friday, when the government releases its monthly jobs report. While few investors think that the Fed will announce that it will cut its bond purchases at its meeting this month, many believe policy makers could make the move in March next year. Several retailers fell after reporting disappointing results. L Brands, the owner of Victoria's Secret, Bath & Body Works and other retailers, lost 93 cents, or 1.5 percent, to $62.34 after reporting that its sales dropped 5 percent last month. Gaming company Electronic Arts was the biggest decliner in the S&P 500 index after Forbes reported that the company had been forced to delay future games from one of its developers due to ongoing problems with its Battlefield 4 game. The company's stock fell $1.18, or 5.3 percent, to $21.15. The S&P 500 index has dipped 1.2 percent since the start of the month and is on course to log its first weekly decline in nine weeks. The losses have pared this year's advance for the index to 25.1 percent. Stocks have surged this year as the Fed's stimulus has helped keep the economic recovery on track and as corporations produced record profits. Low interest rates have also made stocks more attractive in comparison to bonds. The stock market may be sliding this month as investors sell some of their best-performing holdings given the strong returns Tehama Country Real Estate this year, said Natalie Trunow, chief investment officer at Calvert Investments, an asset management company. ''I just don't know if folks will try to squeeze another percentage point (out of the market), or just sell and go home,'' said Trunow. In government bond trading, the yield on the 10-year Treasury note rose to 2.85 percent from 2.83 percent Wednesday. The yield is the highest it's been in more than two months as traders expect the Fed to reduce its bond purchases. The Fed has been keeping long-term interest rates low with their monthly bond purchases. In commodities trad- This Week OPEN HOUSE RIVERFRONT DOWNTOWN, Beautiful home, 3 car garage/shop, dock on the waters edge. $309,000 Serving all of Tehama County, Northern Glenn County & Southern Shasta 3 bedroom, 2 bath................................................$155,000 3 bedroom, 1 bath................................................$179,500 3 bedroom, 2 bath................................................$149,000 3 bedroom, 2 bath................................................$299,000 17 acres, 3 bedroom, 3 bath.................................$485,000 El Camino 16 acres..............................................$114,900 3 bedroom, 2 bath remodeled .............................$149,500 3 bedroom, 2 bath................................................$160,000 3 bedroom, 2 bath................................................$130,000 3 bedroom, 2 bath................................................$115,000 Manufactured on 5 acres in Orland......................$110,000 3 bedroom, 2 bath................................................$178,500 3 bedroom, 2 bath in Red Bluff.............................$349,000 20 acres Paskenta-Flournoy.................................$78,900 Commercial Building/Los Molinos OMC...............$75,000 ALL WEEK Monday thru Sunday 9am to 5pm Rio Vista Estates TRIPLEX, fully rented 2/1 units, updated ................................................ $169,000 ANTELOPE area home 3/2 with new well, paint, carpet.........................$135,000 5.89 IRRIGATED ACRES WITH 3/2, 2 Car garage, and Pond...............$175,000 MILL CREEK FRONTAGE for this 3000 s.f. custom home and shop.....$299,000 SENIOR PARK, own your parcel, 3/2 on double lot..................................$65,000 IMMACULATE mobile on 1.5 ac in Dairyville..........................................$145,000 530-529-2700 314 Washington St, Red Bluff, CA 96080 www.TehamaCountyRealEstate.com Corning Adult & Family Park 2 Bedroom, 1 Bath From $14,900 OWC Space Rent $340-$350 a month (530) 824-1500 590 Antelope Blvd. Bldg. A, Suites 10 & 20, Red Bluff (530) 527-3100 Adult park on the river 2 bd, 2 ba #92 $30,900 528-2371 2 bd, 1 ba #124 $29,900 1704 Solano St. Corning, CA. 96021 (530) 824-8100 Owner Will Carry Ideal Horse Property Unusually well built home with warm wood beam ceiling. Huge kitchen with large breakfast bar countertop. Additional space for dining room furniture. Large, comfortable living room and master bedroom. Ceiling fans are throughout the house. Tremendous amount of storage! Skylights in the bathrooms, wood burning stove in living room, carpets throughout with vinyl flooring in kitchen, bathrooms and laundry room. RE/MAX American Dream 60 acres 45 + - plantable acres, two 5 H.P AG wells and one domestic, 2500 sq. ft. 3/2 with in ground pool, 8 horse stall barn with tack room, several other large outbuildings, fenced and crossed fenced. $695,000 WESTERN REAL ESTATE MINCH PROPERTY MANAGEMENT 760 Main St. • 530-527-5514 Commercial Properties For Sale: • 124 S. Jackson, 3.65 acres NOW REDUCED............$174,500 • 1870 Montgomery (Industrial) .....................................................................2 Acres • 13545 Saint Marys Ave. (Or lease)................................................40,000 sq/ft • 728 Rio Street Rare downtown river front lot ...........................$98,000 Commercial Properties For Lease: • 750 Main Street (Retail/Professional) ............................................1,825 sq/ft • 124 S. Jackson .......................................700 sq/ft Fenced Shop, Storage • 731-741 Main St. (Upstairs)..................................................various size suites • 955 Main St. (Suite inside Bank of America building)......................2,995 sq/ft • 560 Diamond Avenue (Vacant Pad)...................................................8,000 sq/ft • 1040 Monroe Street (Commercial/Industrial).............................1,000 sq/ft • 756 Rio Street (Three secure 250 sq/ft suites. No deposit required). Also entire space available..........................................................................1,800 sq/ft • 717 Pine Street (Office Space).......................................................1,700 sq/ft 2 acres with power along the road.......................................................................................$25,000 2 homes on 3.27 acres, fenced and crossed fenced..................................................$139,000 160 acres with cabin ................................................................................................... $200,000 1586 sq. ft. home in the mountains...............................................................................$60,000 20 acres with well and septic, and power along road..................................................$100,000 10.75 acres with a shop, power, well and septic.........................................................$129,900 Two river front lots zoned multi family....................................................................$70,000 ea 15.31 acres with power and community water, several out buildings and year round creek ............ $80,000 5.9 acres with power along the road.............................................................................$50,000 5500 sq. ft. Commercial Building That has two suite offices, apartment and warehouse......$190,000 60 acres 45 + - plant-able acres, two 5 H.P AG wells and one domestic, 2500 sq. ft. 3/2 with in ground pool, 8 horse stall barn with tack room, several other large outbuildings, fenced and crossed fenced................$695,000 1994 3/2 1445 sq. ft. ...................................................................................................$167,000 Stromer Realty Serving all of Tehama County, Northern Glenn County & Southern Shasta Robert Thayer, Owner / Realtor 1704 Solano St, Corning CA, 96021 Call me at (530) 515-3367 for any information on any listing, or listing your own home/business/property. License # 01486553 ~ Specializing in residential to ranches ~ http://redbluff.stromerrealty.com Price Reduced! 11601 A St., L.M. Dairyville 14970 Oak Knoll Drive, Red Bluff Ranch 76.27 +/- acres $499,500 1.52 acres, 1762 square feet A 1762 sq. ft. country home on 1.52 acres, surrounded by trees and permanent landscaping. This property has been well maintained and is turnkey for a lovely family home. Many amenities, good storage, tile floors and carpet; hickory flooring in master bedroom, hall, dining and living rooms. Laundry room, all appliances, two skylights, ceiling fans, solar gate and many other amenities. A peaceful setting with wildlife viewing. RE/MAX American Dream Email rthayer@remax.net NEW LISTING 8416 Sherwood Blvd, Los Molinos 2.47 Acres $350,000 ing, the price of oil rose 18 cents, or 0.2 percent, to $97.38 a barrel. Gold fell $15.30, or 1.2 percent, to $1,231.90 an ounce. Among other stocks making big moves: — Microsoft fell $1.02, or 2.6 percent, to $37.92 after Bloomberg reported a Ford company director as saying that CEO Alan Mulally was staying at the automaker until the end of next year. Mulally is considered one of the leading candidates to take the top job at the software company. — Morgan Stanley slumped 87 cents, or 2.8 percent, to $30.27 after analysts at Deutsche Bank cut its rating on the bank's stock to ''hold'' from ''buy,'' on concern that volatile trading conditions in bond markets may hurt the bank's earnings. — Dollar General rose $3.50, or 6.2 percent, to $59.87, after the retailer's earnings topped the estimates of analysts that follow the stock. Dollar General's net income rose as traffic improved and shoppers spent more per transaction. Beautiful small ranch with well kept home. 1566 +/- sq. ft. House features a brick fireplace with a wood stove insert, parque flooring in hall and bedrooms, a full dining room and a breakfast nook in the kitchen. Sunshades are installed on front windows and patio sliding door. The rugs are in beautiful condition as the owners have lovingly maintained their home. Located in the Los Molinos Irrigation District, the property has 28 1/2 water shares. The rest functions as dry pasture. Several outbuildings. A large grove of very old producing olives is nearby the house. Seasonal Creek. Three septic systems, one domestic well and stock tank. 20110 Ranchero Dr, Red Bluff 14.0 Acres $68,000 Lovely wooded parcel with paved access. Two building sites already prepared with two separate septic systems. Build your dream home and a granny unit! The property has a new cased well. Views and seasonal creek! A great area for those who want to enjoy oak trees and nature! 20% down, owner will carry. Lot 4 Parey Avenue, Dairyville $149,000 1.99 Acres. Beautiful river frontage with fabulous soil on the Sacramento River! Riverview lot on the Sacramento River. Walnut trees on one side of the property. Partially fenced on the other side. Plenty of room to build your dream home in a peaceful setting!

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