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Friday, June 4, 2010 – Daily News – 7A NEW YORK (AP) — Stocks closed higher for a second day Thursday after traders found room for optimism in mixed eco- nomic reports. The Dow Jones indus- Stocks extend gain to 2nd day ahead of jobs report Wall Street trial average rose about 6 points a day after leaping 226. It was the first back- to-back gain for the Dow since late April. Stocks climbed on reports that business at the nation’s services compa- nies grew in May and that the number of people seeking first-time jobless claims slipped for a sec- ond week. The gains faded at times as the day wore on, but stocks recovered by the close as traders looked to the Labor Department’s May jobs report on Friday. The employment report is the most closely watched item on the eco- nomic calendar. Econo- mists predict that employ- ers added 513,000 jobs in May. It would be the biggest jump in 26 years, but as many as 300,000 of the workers hired in May were expected to be tem- porary positions to help conduct the U.S. census. Still, even temporary hir- ing could bring a bump in consumer spending. The economic news gave a boost to much of the market but energy stocks posted some of the biggest gains after the price of oil rose. Range Resources rose more than 6 percent, while Noble Energy added more than 5 percent. Stocks have moved erratically in the past week after major indexes hit new trading lows for the year on May 25. It’s still not clear whether the mar- ket has finished a slide that began in late April after stock indexes touched their highest points of the year. The market has been vulnerable to swings because of worries about the economic fallout of the Gulf oil spill and the eco- nomic problems in Europe. Bill Schultz, chief investment officer at McQueen, Ball & Associ- ates in Bethlehem, Pa., said the gyrations are keeping some everyday investors from putting House – Apartment FOR RENT Classified Line Ads June Special! Online re-publication in FREE TOP LISTINGS RENTALS $11 Value on the front page at www.redbluffdailynews.com 60,000 unique visitors monthly Daily News Classified (530) 527-2151 money into the market. ‘‘They’re seeing these whipsaw trades and for a lot of them it feels almost like a casino,’’ he said. The Dow rose 5.74, or 0.1 percent, to 10,255.28. The Dow’s two-day gain of 231 points, or 2.3 per- cent, was the first since April 28-29. The Standard & Poor’s 500 index rose 4.45, or 0.4 percent, to 1,102.83, while the technology-focused Nasdaq composite index rose 21.96, or 1 percent, to 2,303.03. About two stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume came to 5 billion shares compared with 5.1 billion Wednesday. Bond prices slipped, sending interest rates high- er. The yield on the bench- mark 10-year Treasury note rose to 3.37 percent from 3.35 percent late Wednesday. Crude oil rose $1.75 to $74.61 per barrel on the New York Mercantile Exchange. Gold fell. In economic news, the Labor Department said first-time claims for unem- ployment benefits fell by 10,000 to 453,000 last week. The drop coincided with a report from payroll company ADP that said private employers added 55,000 jobs in May. Among stocks, Range Resources Corp. rose $3.11, or 6.5 percent, to $51.01. Noble Energy Inc. climbed $3.26, or 5.4 per- cent, to $63.41. The Russell 2000 index of smaller companies rose 6.85, or 1 percent, to 667.37. Britain’s FTSE 100 gained 1.2 percent, Ger- many’s DAX index rose 1.2 percent, and France’s CAC-40 climbed 1.6 per- cent. Japan’s Nikkei stock average rose 3.2 percent. 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Advertising Rates (cost includes same-size adjacent space for promotional copy, provided by advertiser) D NEWSAILY RED BLUFF TEHAMACOUNTY Gloss Stock 1/4 Page: $350 Half Page: $485 Full Page: $765 BY POPULAR DEMAND Advertising and Copy Deadline HAS BEEN EXTENDED TO 5 PM Monday, June 7, 2010 For space reservations, contact your Daily News Display Advertising Representative at (530) 527-2151 • Ads and Promotional copy about the advertiser published side by side for every featured professional or business.