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8B – Daily News – Saturday, April 2, 2011 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) — A drop in the unemployment rate to a two-year low sent stocks higher Friday. The Labor Department said the unemployment rate fell to 8.8 percent, the low- est since March 2009, as companies added workers at the fastest two-month pace since before the reces- Thru Thurs. March 31, 2011 sion began. Approximately 216,000 new jobs were cre- ated last month, offsetting layoffs by local govern- ments. Economists had expected the unemploy- ment rate to remain at 8.9 NoTAXSale *”no sales tax” in reference to discount given equal to the amount of calculated sales tax. Stocks rise after unemployment dips to 2-year low Wall Street percent. ‘‘We are clearly seeing a breakout in the labor mar- ket,’’ said Paul Zemsky, the head of asset allocation at ING Investment Manage- ment. ‘‘The jobless recov- ery is ending and we are moving into a job expansion stage of the economy.’’ The report helped send the Dow Jones industrial average to a new 2011 high during early trading. Stocks then pared those gains in the afternoon as oil prices hit new 30-month highs. Crude oil jumped $1.22 to settle at $107.94. The Dow’s 100-point gain early in the day seemed unwarranted because the employment report was just slightly better than expect- ed, said Jack Ablin, chief investment officer at Harris Private Bank in Chicago. ‘‘There’s a relief that the job gains were continuing, but it’s not a huge surprise,’’ he Gayle’s Tuxedo Rentals New Location 223 Main St. 527-1381 736-1341 inside Flower Boutique across from Taco Bell said. ‘‘It’s worth maybe 40 points on the Dow.’’ Stocks rose across the market. Eight of the 10 company groups that make up the S&P 500 index moved higher, led by a 0.9 percent rise in industrials shares. The Dow rose 56.99 points, or 0.5 percent, to 12,376.72. The average of 30 large company stocks gained 1.3 percent for the week. The Dow has already risen 6.9 percent this year. That’s the best start since 1999. The Standard & Poor’s 500 index rose 6.58, or 0.5 percent, to 1,332.41. The Nasdaq composite rose 8.53, or 0.3 percent, to 2,789.60. All three indexes made gains for the second week in a row. The S&P 500 rose 1.42 percent and the Nasdaq 1.7 percent. ‘‘This jobs report shows that we are in the early stages of a sustainable recovery in employment, and that is what’s letting the market put the recent cor- rection behind us,’’ said Phil Orlando, chief equity strate- gist at Federated Investors. The Institute of Supply Management reported a slight slowing in manufac- turing growth during March. The trade group’s index of manufacturing activity slipped to 61.2 from February’s 61.4. The drop was largely expected after manufacturing hit its high- est level since May 2004 during February. The Commerce Depart- ment delivered more bad news on the construction industry. The government said construction spending fell in February to its lowest level since 1999. LASSEN STEAK HOUSE “Home of the Sizzling Platter” Perfect for Large Parties Anniversary • Retirement • Weddings • Birthdays • Reunions, etc. Open 11am - 9pm Call 530 839-2838 Corner of Hwy 99E & Vina Rd. Nasdaq OMX Group and IntercontinentalEx- change said early Friday that they are making a bid for NYSE Euronext, offer- ing what they say is a 19 percent premium to the deal the company struck with the operator of the German stock exchange. NYSE shares jumped 12.6 percent. Two shares rose for every one that fell on the New York Stock Exchange. Trading volume was 4 bil- lion shares. Have Your Party at