Issue link: https://www.epageflip.net/i/147717
8B Daily News – Thursday, August 1, 2013 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 Stocks log best month since January Special Full-Color Festival Promotion Page Published Saturday, August 17 only in DAILY NEWS RED BLUFF TEHAMA COUNTY T H E V O I C E O F T E H A M A C O U NTY S I N C E 1 8 8 5 also published digitally in the newspaper's e-edition at www.redbluffdailynews.com 3.2" x 13" calendar of Festival events, supported with advertising blocks from TEN sponsors! • Sponsor Blocks 3.2" (2 columns) wide by 3" tall. • Full color • Appears in Festival page in the e-edition online, with click-through capability to the business' own website, on request. • Receives benefit of "SEO Boost" for 30 days as part of the newspaper's online Ads Directory. NEW YORK (AP) — After a day of stalled rallies, the stock market closed out July with its best monthly gain since January. The Standard & Poor's 500 index ended the month 4.95 percent higher. That's the biggest increase since January, when it rose 5.04 percent. The Dow Jones industrial average also had its best month since January. Markets surged in July after Fed Chairman Ben Bernanke assured investors that the central bank wouldn't pull back on its stimulus program until the economy was strong enough. The central bank is buying $85 billion of bonds a month to keep down interest rates to encourage borrowing and hiring. On Wednesday, the Fed reaffirmed its commitment to support the economy in a statement released after the end of a two-day meeting. The central bank slightly downgraded its assessment of U.S. economic growth from ''moderate'' to ''modest,'' suggesting that it's not about to wind down its stimulus. Given the market's big gains in July, stocks may struggle to climb further in Wall Street the coming months, said Phil Orlando, chief equity market strategist at Federated Investors. ''I would not be the least bit surprised to see some modest consolidation,'' said Orlando. Stocks started higher Wednesday after the government said that the economy grew at a faster pace in the second quarter than economists had forecast. The gain was mostly gone by the time the Fed statement came out at 2 p.m. Eastern Daylight Time. The market staged another rally for about an hour after the Fed's announcement, pushing the S&P 500 within two points of breaching the 1,700 level. The market reversed course in the final hour, leaving the S&P flat. The U.S. grew at an annual rate of 1.7 percent from April through June as businesses spent more and the federal government cut less spending, the Commerce Department said Wednesday. Economists had expected growth of 1 percent, according to the data provider FactSet. There was also an encouraging report on hiring ahead of the government's monthly jobs survey due out Friday. U.S. businesses created a healthy 200,000 jobs this month, payroll company ADP said, as companies hired at the fastest pace since December. ADP also raised its estimate of the number of jobs the private sector created in June. The Standard & Poor's 500 index ended little changed at 1,685.73. The Dow Jones industrial average ended the day 21 points lower, or 0.1 percent, at 15,499.54. The Nasdaq composite gained 9.90 points, or 0.7 percent, to 3,626.37. The index fell just five times during the month and is at its highest level in more than a decade. On the bond market, investors anticipated that the Fed's slightly weaker assessment of the economy would imply a longer period of bond purchases. Bond yields fell as demand increased for U.S. government debt. The yield on the 10-year Treasury note fell to 2.58 percent from 2.66 percent just before the announcement. 741 Main Street, Suite #2 Red Bluff, CA 96080 1-800-287-2187 (530) 527-2187 C & C PROPERTIES KWIK KUTS An Independently owned and operated Member of Coldwell Banker Residential Affiliates. Family Hair Salon FOR 24/7 PROPERTY INFO CALL 1-888-902-7253 FORECLOSURES AND HOMES UNDER $200,000 3 BD 1 BA 1,106 Sq Ft 0.19 AC $99,000 2 BD 1 BA 720 Sq Ft $109,900 Prop Code 43399 4 BD 2 BA 1,888 Sq Ft 0.306 AC $110,000 Prop Code 24439 3 BD 2 BA 1,312 Sq Ft 0 AC $130,000 Prop Code 4719 3 BD 2 BA 1,299 Sq Ft 1.84 AC $130,000 Prop Code 4179 Space reservations deadline: Wednesday, August 14 3 BD 2 BA 1,148 Sq Ft 0.17 AC $135,000 Prop Code 4099 4 BD 2 BA 1,710 Sq Ft 0 AC 2 BD 1 BA 1,356 Sq Ft 0.37 AC 3 BD 1 BA 1,400 Sq Ft 0.57 AC 1,224 Sq Ft 0.381 AC $169,000 Prop Code 4119 4 BD 3 BA 1,543 Sq Ft 0.9 AC $185,000 Prop Code 4139 2 BD 2 BA 1,416 Sq Ft 2.27 AC $198,000 Prop Code 4189 200 Regular $ Haircut $149,500 Prop Code 4579 3 BD 2 BA with any chemical service of $50 or more $149,000 Prop Code 4109 Contact your Advertising Representative Today! ANY RETAIL PRODUCT $140,000 Prop Code 4569 $ 56 Per Festival sponsor block Suzy Noble: (530) 527-2151 x103 snoble@redbluffdailynews.com Gayla Eckels: (530) 527-2151 x108 geckels@redbluffdailynews.com 0.85 AC Prop Code 4049 20 % off See All Tehama County Listings at www.redbluffcoldwellbanker.com TEHAMA COUNTY REAL ESTATE TEAM • OPEN 7 DAYS A WEEK off Reg. $13.95 Not good with other offers Expires 7/31/13 With coupon 1064 South Main St., Red Bluff • 529-3540 LOST Large Reward Family Heirloom Gold Cross approx 6" x 3" in vicinity of More 4 Less or Denny's 586-1984