Issue link: https://www.epageflip.net/i/14095
10A – Daily News – Saturday, July 31, 2010 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) — Stocks had a fitting end to a choppy July as prices see- sawed their way to a nar- rowly mixed finish. The market still had its best month in a year. Investors had an Furniture 0% 12 month financing up to50%-60% off Retail prices on selected items since it gained 7.8 percent in July 2009. ambivalent response Friday to the government’s gross domestic product report, which showed that eco- nomic growth slowed in the April-June quarter. The Dow Jones industrial aver- age fell almost 120 points in early trading, then ratch- eted up and down until the close. The Dow ended down just a point, and the other big indexes had simi- larly small moves. The day was much like the rest of July, which saw investors alternately buying on strong earnings reports and selling on weak eco- nomic numbers. The Dow rose 7.1 percent for the month, its best showing 609 Walnut St., Red Bluff A repeat performance in August seemed unlikely due to the market’s current pessimism, especially since the bulk of second-quarter earnings reports are in. Many investors, uncertain about the where the market is heading, stayed on the sidelines for much of July or moved money into safer investments. Even on days when the Dow was up 100 or 300 points, trading vol- ume was unusually low. ‘‘It’s a very cautious environment today,’’ said Rob Lutts, president, CIO at Cabot Money Manage- ment. That caution, he said, is what leads investors to sell. The Commerce Depart- ment’s GDP report was troubling for the market, and followed recent reports on housing and unemploy- ment that showed the recovery has slowed. GDP grew at an annual pace of 2.4 percent in the second quarter, less than the 2.5 percent forecast of econo- mists polled by Thomson Reuters. Analysts said that as investors read deeper into the report, it didn’t look as bad as they initially thought. They found some good news in the consumer savings rate. Business spending on equipment and software also jumped in the second quarter by the biggest amount in 13 years. That was encouraging because it means companies could be getting ready to start hiring. ‘‘We had a little bit for the bulls and a little bit for the bears,’’ Lutts said, ‘‘and ultimately no one is really 527-4308 Summer Cleaning Specials 824-4567 CARPET CLEANING Living Room & Hall (up to 350 sq.ft.) $ 5995 Not good with other offers Expires 9/30/10 MODERN CLEANERS $ 400OFF Dry Cleaning Order of $2000 or more Must be presented with incoming order. Excludes Laundry Not good with other offers Expires 9/30/10 AREA RUGS 25% OFF 60¢ sq. ft. reg. 80¢ sq. ft. Excludes some specialty rugs. Must be presented with incoming order. Not good with other offers Expires 9/30/10 China Buffet CHINESE RESTAURANT Open 7 Days A Week Sunday Buffet Special $ 9.99 COUPON China Buffet Lunch Dinner $9.99 $6.99 Monday - Saturday 343 S. Main St. Red Bluff 530-529-5888 (No Checks) 10 % off COUPON on dinner only (everyday) Expires 8-31-10 COUPON 1935 Solano, Corning happy.’’ The Dow fell 1.22, or 0.01 percent, to 10,465.94. The Standard & Poor’s 500 index rose 0.07, or 0.01 per- cent, to 1,101.60, while the Nasdaq composite index rose 3.01, or 0.1 percent, to 2,254.70. Savings throughout store Stocks end July with big gain; Dow gains 7.1 pct Wall Street timent index for July rose slightly more than expected to 67.8 from a preliminary reading of 66.5. Econo- mists expected it to rise to 67. Meanwhile, the unem- Rising stocks outpaced losers by about 3 to 2 on the New York Stock Exchange where volume came to a very light 1.1 billion shares. Volume usually falls off in the summertime but stays strong during July. This July was particularly slow. ‘‘The biggest crowds aren’t on the trading floor, they are on the beach. Peo- ple don’t want to be involved in the market now,’’ said Jeffrey Frankel, president of Stuart Frankel & Co. ‘‘One day they are up, one day they are down. Nothing is making any sense. That’s why there is no volume.’’ Treasurys benefited from the uncertainty. The yield on the 10-year Trea- sury note, which moves opposite its price, fell to ●●●●●●●●●●●●●●●●●●● Come see us at the Children’s Fair on April 24th Recently expanded and moved near Bidwell Elementary License # 525405817 My qualifications include: B.A. in Elementary Education and experience teaching grades K-8. Accepting state pay programs & cash pay, etc. (530) 209-8743 Hawaiian Days Sidewalk Sale ! August 6th - 7th Can’t go to the Islands! Enjoy taste treats from the Islands Starts 9am • Sign up at participating stores for: 1. Hawaiian dinner for 4, cooked & donated by California Kitchen & Company 2. Hawaiian Patagonia shirt by Heartfelt Designs Gallery 3. Patagonia bike Tote donated by Hearfelt Designs Hawaiian Days August 6th - 7th Then join us in downtown Red Bluff for Hawaiian Days Sale and Drawing, Plus More 2.91 percent from 2.99 percent. Its yield is often used as a benchmark for interest rates on mortgages and other consumer loans. A yield below 3 percent suggests investors are wor- ried about long-term growth and don’t fear inflation will be a problem anytime soon. Inflation is a threat to the long-term value of bonds. Investors did get some mildly good news from two other economic reports. The University of Michi- gan/Reuters consumer sen- ployment rate likely inched higher to 9.6 percent in July from 9.5 percent in June as the government laid off more temporary census workers. Private employers likely added 90,000 jobs during the month, slightly better than in June. Overseas markets most- ly fell Friday after reports that Spain’s credit rating is likely to be cut by Moody’s Investors Service. The potential downgrade comes as the country’s unemploy- ment rate jumped to a 13- year high of 20.09 percent and the government contin- ues to grapple with rising debt problems. Spain’s IBEX 35 fell 1.2 percent. Britain’s FTSE 100 fell 1.1 percent, Ger- many’s DAX index rose 0.2 percent, and France’s CAC- 40 fell 0.2 percent. Japan’s Nikkei stock average fell 1.6 percent. We now serve beer & wine