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4B Daily News – Friday, May 24, 2013 Stocks edge lower as investors reassess Fed fears NEW YORK (AP) — Investors recovered their poise after a shaky start to trading on Wall Street that sent stocks sharply lower. U.S. markets plummeted immediately after the opening bell Thursday following a global slump prompted partly by an unexpected slowdown in Chinese manufacturing. Concern that the Federal Reserve might ease back on its economic stimulus program sooner than expected had also riled investors. The dip gave investors who missed this year's stock market surge an opportunity to get into the market, and by midday the market had recouped most of its early loss. Stocks even climbed into positive territory by midday, then ended the day marginally lower. ''Most institutions, most hedge funds and most individuals have watched the market go up without them, so the dips are being bought,'' said Jim Russell, Wall Street regional investment director at U.S. Bank. ''There's a very strong case for U.S. stocks.'' For the most part, the U.S. stock market has been going up steadily since the beginning of the year, with only infrequent declines. Investors' optimism has been stoked by a pickup in hiring at U.S. employers, a recovery in the housing market and record profits at U.S. corporations. All that has helped push the Dow up 16.7 percent this year. The Standard & Poor's 500 index is 15.7 percent than at the start of 2013. On Thursday, however, trading was volatile. The Dow Jones industrial average ended the day just 12.67 points lower, or 0.1 percent, at 15,294.50. It fell as much as 127 points during the first hour of trading. A sell-off in global markets came after minutes from the latest Fed meeting, released Wednesday afternoon, indicated that several policymakers were leaning toward slowing the central bank's bond-buying program as early as June if the economy continues to recover. The central bank is spending $85 billion a month buying bonds. That program has been keeping interest rates low in an effort to encourage borrowing, spending and investing. It's also meant to encourage investors to buy risky assets like stocks. Investors were also unsettled by the report that showed manufacturing in China, the world's No. 2 economy, unexpectedly shrank this month. HSBC Corp. said the preliminary version of its monthly purchasing managers index had dropped to a seven-month low. China's booming economy has been a major driver of global growth in recent years and investors worry when they see signs that it's slowing down. Stocks fell sharply in Asia Thursday. Japan's Nikkei index dropped 7.3 percent after news was released about the slowdown in Chinese manufacturing. The declines extended to Europe, where Germany's DAX index, which has been at a record high, slid 2.1 percent. The sell-off looked set to continue when trading opened in New York, but the market quickly hit bottom and reversed course. Some investors also reevaluated the concern about the Fed easing, or tapering, its economic stimulus program. Any pullback of the Fed's stimulus should be seen as a positive signal because it would mean that the U.S. economy is getting stronger, said Joe Quinlan, chief market strategist at U.S. Trust. ''When the Fed starts to taper, the fundamentals of Tehama Country Real Estate Stromer Realty 590 Antelope Blvd 3 BEDROOM 2 BATH IN RED BLUFF $129,900 (530) 527-3100 ~ Specializing in Ranches to Residential ~ http://redbluff.stromerrealty.com Dairyville Ranch 76.270 +/- acres $539,000 Beautiful small ranch with well kept home. 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. ~ RANCHES ~ Wild Rose Ranch Very Desirable 94 +/- Acre Property.....................$1.2 million 22896 Tehama Ave. 16.48 Acres, Gerber, OWC with substantial down.......$199,900 11601 A St., L.M. 76.270+/- Acres, Beautiful Small Ranch with Well Kept Home ....$539,000 30973 Manton Road This Ranch provides Multi-Use Potential ................$699,900 Carpenter Ranch 10,230 Acres, Exc. Winter Grazing Cattle Operation $12,766,000 ~ RESIDENTIAL ~ Wilcox~Surry Village An Exquisite Professionally Decorated Home ......$595,000 8416 Sherwood Blvd. L.M. 2.47+/- Beautiful hm, great horse prop .......$350,000 ~ RECREATIONAL ~ Yuba River Property Serious Fly Fisher, 74 +/- Acres ...........................$500,000 ~ COMMERCIAL ~ 590 Antelope Blvd. Two Newer Office Buildings, Highly Visible Thoroughfare.....$775,000 223 Main St. Perfect Retail Location .....................................................$220,000 ~ LOTS ~ 20110 San Juan Lovely Wooded Parcel with Paved Access........................$77,500 0 Rivers Edge One of a Kind Acreage on the Sacramento River ................$175,000 21975 Bellota Lake California ...................................................................$8,500 Parey Ave, Lot 4 Dairyville, Riverview Lot on the Sacramento River..........$180,000 26249 Mulholland Dr. Los Molinos Outstanding 10 Acre Lot .................$160,000 growth over the past six months. In other U.S. stock trading, the Standard & Poor's 500 index closed down 4.84 points to 1,650.51, or 0.3 percent. The Nasdaq composite fell 3.88 points, or 0.1 percent, to 3,459.42. In commodities trading, the price of crude oil fell 3 cents to $94.25 a barrel. Gold rose $24.40, or 1.8 percent, to $1,391.80 an ounce. The dollar fell against the euro and the yen. In U.S. government bond trading, the yield on the benchmark 10-year Treasury note edged down to 2.02 percent from 2.04 percent. The yield on the note falls when the bond's price rises. Among stocks making big moves, Ralph Lauren fell $4.37, or 2.3 percent, to $183.69. PC maker HewlettPackard surged $3.63, or 17.1 percent, to $24.86. Dollar Tree rose $1.82, or 3.8 percent, to $50.19. This Week Bldg. A, Suites 10 & 20, Red Bluff This Week Featured Property the U.S. economy have improved even further than we have already seen,'' said Quinlan. ''The Fed tapering is actually a good story for U.S. equities and the economy.'' Encouraging news about the U.S. economy also helped the case for stock market bulls Thursday. Sales of new homes rose in April to the second-highest level since the summer of 2008, the Commerce Department reported Thursday. Also, the median price for a new home hit a record high, another sign that housing is recovering. There was good news on the labor market, too. The number of Americans applying for unemployment benefits fell 23,000 last week to 340,000, a level consistent with solid job growth, the Labor Department said. That suggests employers are laying off fewer workers. The decline in claims has coincided with steady job 2.5 acres on the Sacramento River with 3 commerical buildings, Owner will carry with large down.........$749,000 160 acres with cabin..............................................................................................................$200,000 1586 sq. ft. home in the mountains......................................................................................PENDING 900+ sq. ft. 2 bed 1 bath......................................................................................................PENDING 2026 sq. ft. 4 bed 2 bath home on 4.09 acres fenced and crossed fenced.........................PENDING 40 acres with domestic well and power along road.............................................................PENDING 1780 sq. ft. 4 bed 2 bath......................................................................................................PENDING 20 acres with well and septic, and power along road............................................................$100,000 10.75 acres with a shop, power, well and septic...................................................................$140,000 20 acres, Corner lot in the Wells Fargo Subdivsion..............................................................$120,000 3 bed 2 bath home on 5.74 acres with large shop, fenced...................................................$250,000 Two river front lots zoned multi family .......................................... $100,000 ea or both for $175,000 15.31 acres with power and commuinty water, several out buildings and year round creek ......... $100,000 Serving all of Tehama County, Northern Glenn County & Southern Shasta Robert Thayer, Owner / Realtor 1704 Solano St, Corning CA, 96021 RE/MAX Call me at (530) 515-3367 for any information on any listing, or listing your own home/business/property. American Dream Email rthayer@remax.net OPEN HOUSE • Sat., May 25• Noon to 3pm 22399 Adobe RoadSpectacular river front home with a 75' patio, on the edge of the river, 2400sf home on 1/2 an acre. RE/MAX Five Star 2405 Hilltop Drive Don D. Davis Redding, CA 530-524-3137 96002 DRE LIC # 00368854 License # 01486553 BEAUTIFUL PRIVATE SETTING Los Molinos, 2 1/2 acres, 1998 mfg. home, out buildings, family orchard. PENDING LOIS ROGAN BROKER ASSOCIATE Two Separate Dwellings 14x60, 2004, 2/1 mfg. home & a home recently updated from roof to siding, heating & cooling. All this only...$135,000 20 Acres West of Corning, all fenced, large shop, homemade BIG POND, older mfg. home. $70,000 Carol May Cell: 530-514-8946 DRE# 00612194 NORTH STATE PROPERTIES 616 Washington St. Red Bluff OPEN HOUSE Cell: (530) 526-7411 E-mail: Lois@LoisRogan.com www.LoisRogan.com I get results because I care. 741 Main St., Suite #2 Red Bluff, CA 96080 DRE Lic.#01111682 C&C PROPERTIES Each office is independently owned and operated Thank you Tehama County for voting me Best Realtor 2013 WESTERN REAL ESTATE MINCH PROPERTY MANAGEMENT 760 Main St. • 530-527-5514 Commercial Properties For Sale: • 124 S. 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