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4B Daily News – Friday, May 31, 2013 Stocks rise as lackluster reports ease Fed concern NEW YORK (AP) — The stock market rose Thursday after a pair of lackluster economic reports convinced traders that the U.S. central bank will continue to boost the economy with its stimulus program. Unemployment claims rose and an initial estimate of first-quarter economic growth was revised slightly lower. That suggests the U.S. economy may still need some time to recover from its funk and that the Fed will keep up its $85 billion in monthly bond purchases. ''The big worry that's been hitting the market lately, that the Fed might step back prematurely, might be fading a little today on the idea that the economy does need a bit more support,'' Jeff Kleintop, chief market strategist at LPL Financial, said. The rise in the Standard & Poor's 500 index was led by banking and insurance Wall Street stocks, which gained 1.1 percent. Among individual bank stocks, Bank of America rose 35 cents, or 2.6 percent, to $13.87. The stock is trading at its highest in more than two years. JPMorgan gained 95 cents, or 1.7 percent, $55.62. Banks and other stocks that stand to benefit the most from an improving economy have surged this week, a change from earlier in the year when investors favored dividend-rich stocks like utilities. Now investors are selling dividend-rich stocks and buying so-called growth stocks. The S&P's financial index is up 2.1 percent this week, and its utilities index is down 2.5 percent. Even after that increase, by one measure bank stocks are still less expensive than the broader market. The price-to-earnings ratio for financial companies is still lower than that of S&P 500 average. The so-called P/E ratio is 14.4 for banks and insurers, compared with 16.2 for all companies in the S&P, according to FactSet. Stocks also got a boost from deal news. NV Energy surged $4.34, or 23 percent, to $23.62, leading a broad advance in utility companies. Clearwire, a wireless network operator, surged $1.02 cents, or 29 percent, to $4.50 after satellite TV operator Dish Network raised its bid for the company to $6.9 billion. In economic news, the number of Americans seeking unemployment aid rose last week, a sign layoffs have increased, the Labor Department said Thursday. Claims for unemployment aid rose 10,000 last week to 354,000. The government also lowered its estimate for U.S. economic growth in the first three months of the year to 2.4 percent from 2.5 percent. Trading has been choppy on Wall Street this week as investors wrestle with the question of whether the Fed will ease its economic stim- Tehama Country Real Estate This Week LOIS ROGAN Get Results! BROKER ASSOCIATE 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 Put your ad in Real Estate ONLINE ADVERTISING INCLUDED. Call Suzy Noble (530) 527-2151 ext. 103 Corning Adult Park 2 Bedroom, 2 Bath From $19,900 OWC Space Rent $325-$335 a month (530) 824-1500 DRE LIC # 00368854 BEAUTIFUL PRIVATEacres Los Molinos, 2 1/2 SETTING 1998 mfg. home, out buildings, family orchard. PENDING 20 Acres West of Corning All fenced, large shop, homemade BIG POND, older mfg. home. $70,000 Carol May NORTH STATE PROPERTIES Cell: 530-514-8946 616 Washington St. Red Bluff 3 BEDROOM 2 BATH IN RED BLUFF $129,900 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.........................................................................................$69,500 900+ sq. ft. 2 bed 1 bath......................................................................................................PENDING 2026 sq. ft. 4 bed 2 bath home on 4.09 acres fenced and crossed fenced..............................SOLD! 40 acres with domestic well and power along road...................................................................SOLD! 1780 sq. ft. 4 bed 2 bath...........................................................................................................SOLD! 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 .............................................................. $110,000 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 96002 590 Antelope Blvd Bldg. A, Suites 10 & 20, Red Bluff (530) 527-3100 ~ Specializing in residential to ranches ~ http://redbluff.stromerrealty.com Ideal Horse Property 8416 Sherwood Blvd., Los Molinos This Week Featured Property $350,000 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. ~ 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 Wilcox~Surry Village An Exquisite Professionally Decorated Home ......$595,000 8416 Sherwood Blvd. L.M. 2.47+/- Beautiful hm, great horse prop .......$350,000 SPECTACULAR RIVER VIEWS RE/MAX Five Star 2405 Hilltop Drive Don D. Davis Redding, CA 530-524-3137 Stromer Realty ~ RESIDENTIAL ~ DRE# 00612194 22399 Adobe RoadSpectacular river front home with a 75' patio, on the edge of the river, 2400sf home on 1/2 an acre. ulus. Minutes released last week from the Fed's last policy meeting showed that some central bank officials favored slowing the purchases as early as next month, if the economy improves enough. The program has been a major factor supporting a rally in stocks by encouraging investors to buy riskier assets. The Dow Jones industrial average rose 106 points Tuesday, then fell by the same amount Wednesday, leading some market watchers to ask whether the rally that has pushed the Dow and S&P 500 index to record levels may be fizzling out. The S&P 500 rose in early trading, climbing as much as 13.6 points, or 0.8 percent, by late afternoon. The index then gave up some of the gains in the last hour of trading to end up just 6.05 points, or 0.4 percent, at 1,654.41. In commodities trading, oil rose 48 cents to $93.61 a barrel. Gold rose $20.20, or 1.5 percent, to $1,411.50 an ounce. The dollar fell against the euro and the Japanese yen. 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. RE/MAX American Dream Email rthayer@remax.net ~ 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 WESTERN REAL ESTATE MINCH PROPERTY MANAGEMENT 760 Main St. • 530-527-5514 Commercial Properties For Sale: • 124 S. Jackson, 3.65 acres plus improvements ..........$199,500 • 840 Main St. 11,200 sq/ft .................Price Reduced to $265,000 • 1870 Montgomery (Industrial) ..................................................2 Acres • 13545 Saint Marys Ave. (Or lease).................................40,000 sq/ft • 562 Antelope Blvd (Business or Residence)..........................2200 sq/ft Commercial Properties For Lease: • 124 S. Jackson .........................................................Office or Storage • 731-741 Main St. (Upstairs).............................................various size suites • 955 Main St. (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 • 650 Main Street ..............................................................................2650 sq/ft License # 01486553 OPEN HOUSE Sat. JUNE 1 • 9AM till NOON 25097 BUTLER AVE, LOS MOLINOS OPEN HOUSE Beautiful, peaceful riverfront on 1+acre. Dock on the water. $427,000 Overlooking Mill Creek On nearly 2 acres, 3000sf home, 3br, 3ba, 2 story charmer. One mile upstream from Sac River. Mill Creek views. Lg open beamed great room, extra lg formal dining rm, private 2br & bath, huge RV barn/shop $385,000 Call Bob Browning, Chico Ginter & Brown Realty 530-521-7432 DRE# 00404949 Beautiful nearer home with 1731 s.f. $195,000 .................... PENDING Antelope area building lot 3.05 acre, private road....................$69,000 Log home on 40 acres w/shop and ponds ............................. $499,900 Manufactured on foundation with shop $139,000.................PENDING Antelope area building lot with well and septic and power.......$90,000 Mill Creek Resort, land, business, cabins, fishing etc............$999,500 Beautiful 3/2 2300 s.f 289,000 .................................................. SOLD! Riverfront home on 2.81 ac....................................................$179,000 530-529-2700 314 Washington St, Red Bluff, CA 96080 www.TehamaCountyRealEstate.com SAT., JUNE 1ST 2013 • 11:30am - 1:30pm Or by appointment Rio Vista Mobile Estates #92 ON THE RIVER, 2/2 Doublewide 1300 sq ft $39,500 $30,900-obo. Financing available. Call 527-7297