Issue link: https://www.epageflip.net/i/132596
8A Daily News – Saturday, May 25, 2013 Stocks barely budge; market ends week with loss NEW YORK (AP) — Major stock indexes closed out their first weekly loss in a month in quiet trading Friday. The Standard & Poor's 500 index dropped 0.91 of a point to close at 1,649.60. The Dow Jones industrial average rose 8.60 points to 15,303, a gain of 0.1 percent. Procter & Gamble sup- Wall Street ported the Dow with an increase of 4 percent. Both indexes had their first weekly losses since the week ending April 19. A disappointing manufacturing report out of China and a sharp fall in Japan's stock market rattled investors' Tehama County High School ATHLETES OF THE WEEK "The V's" Awards Dinner 2012-2013 School Year Sponsored by DAILY NEWS RED BLUFF TEHAMA COUNTY Red Bluff VFW Hall 735 Oak Street, Red Bluff Wednesday, June 12 6:00 PM – 8:30 PM Reservations required (see below!) DEADLINE: Saturday, June 8 at 6 PM The V's have dinner for FREE, courtesy of the Daily News, St. Elizabeth Community Hospital and Sponsors for this school year's high school athletes of the week program Family, friends, coaches, fans: $10.00 for dinner (Cash or Check, pay at the door.) Spaghetti w/meat sauce, green salad, french bread, beverage & dessert. Check in/Meet & Greet 6:00 PM Dinner at 6:30 PM SPECIAL KEYNOTE SPEAKER TO BE ANNOUNCED! nerves this week. But anxiety over the Federal Reserve's bond-buying program was the main culprit. Some investors interpreted comments from Fed officials to mean that the bank may start pulling its support for the economy sooner than they expected. The S&P 500, widely used by mutual funds as a proxy for the stock market, lost 1.1 percent for the week. It's still up 15.7 percent for the year. Marty Leclerc, the managing partner of Barrack Yard Advisors, an investment firm in Bryn Mawr, Pa., said the weekly drop wasn't cause for concern. Even market rallies have to take the occasional break, he said. ''It's up like a rocket blast this year,'' Leclerc said of the stock market. ''For there to be a little bit of a pullback is perfectly understandable.'' The market headed lower at the start of trading on Friday, then spent the rest of the day slowly recovering ground. By the closing bell, market indexes were roughly back to where they startThe Over 25 years of experience STOVE JUNCTION BBQ PELLETS The North State's premier supplier of stoves ed. Procter & Gamble announced late Thursday that it's bringing back its former CEO, A.G. Lafley, to run the company. The world's largest consumerproducts maker, whose brands include Tide and Crest, is trying to increase sales in the face of tough competition. P&G rose $3.18 to $81.88. Sears plunged 14 percent after the department-store chain reported a steep quarterly loss and slumping sales after the market closed Thursday. Sears lost $7.92 to $50.25. The Nasdaq composite slipped 0.27 of a point to Now in Stock! Popular customer request Serving Butte, Glenn & Tehama Counties Tues-Sat 9am-5pm • Closed Sun & Mon 22825 Antelope Blvd., Red Bluff 530-528-2221 • Fax 530-528-2229 www.thestovejunction.com Paid Advertisement Tony & Carmen Kelley 22679 Moran Road Corning, Ca 96021 530-824-2195 Fax: 530-824-0748 3,459.14. Eight of the 10 industry groups in the S&P 500 fell. Only financial stocks and consumer staples makers rose. The stock market slipped Friday despite an encouraging report on U.S. manufacturing. The government said orders for long-lasting goods rebounded in April, helped by demand for aircraft and stronger business spending. The report suggests economic growth may hold steady this spring. Until this week, signs of slow but steady economic growth and record profits for big companies had propelled stock-market indexes to all-time highs. All but 11 companies in the S&P 500 have posted their first-quarter earnings, and the results have turned out much better than expected. Nearly seven of 10 have reported higher earnings than analysts had estimated. Overall profits in the first quarter are on track to climb 5 percent over the year before. In the market for U.S. Awards Ceremony at 7:30 Presentation of Certificates to the V's Presentation of Special Annual Awards Boys and Girls Scholar Athlete Awards Boys and Girls Sportsmanship Awards Boys and Girls Athletes of the Year RESERVATIONS: Call 527-2151 ext 120 • Leave your name • Number of people in your party • If one or more V's will be with you • Phone number in case we have questions Hope to See You There! DAILY NEWS RED BLUFF TEHAMA COUNTY Need a little guidance & motivation? government bonds, the yield on the 10-year Treasury note dipped to 2.01 percent from 2.02 percent late Thursday. The price of crude oil slipped 10 cents to settle at $94.15 a barrel, ending with a drop of $1.87 for the week. Gold lost $5.20 to $1,386.60 an ounce. Trading was light ahead of the long weekend. U.S. financial markets will be closed Monday for Memorial Day. Among other stocks in the news Friday: — Intuitive Surgical gained 5 percent after a jury decided in favor of the maker of robotic medical equipment in the first of many lawsuits filed against the company. The plaintiffs argued that Intuitive was negligent in training doctors to use its equipment. Intuitive's stock rose $23.07 to $501.53. — Titan Machinery plunged 9 percent. The company, which deals in agricultural and construction equipment, said late Thursday that weaker revenue will lead it to a wider quarterly loss than it had expected. Titan's stock lost $2.10 to $20.40. Experience Premium Group Fitness C O U P O N Class Pass C O Pass Valid through May 2013 U Go to www.tehamafamilyfitness.com P O for current class schedule N Must present coupon $ 38,26227 in Discount Coupons were published last week in the DAILY NEWS RED BLUFF We Offer 100 group training classes per week! Free to members! Starting in May..: Kick Boxing Unleashed and Drums Alive! Tone Zone - Aqua Aerobics - Yoga - Hybrid - Kettlebell - Pilates - Spin - Kids Fit - Circuit Training - Zumba - Silver Sneakers & More! Tehama Family Fitness Center 2498 South Main St, Red Bluff • 528-8656 www.tehamafamilyfitness.com TEHAMA COUNTY … And that does not Count all the ads offering percentage discounts, two-for-ones and Free-with-Purchase offers! Don't miss a Day of it! Subscribe Today 527-2151 It pays for itself. *approx. value