Issue link: https://www.epageflip.net/i/149295
4A Daily News – Friday, August 9, 2013 Surging mining stocks end a slump on Wall Street NEW YORK (AP) — Miners and other companies dealing in commodities helped pull the stock market out of a three-day slump on Thursday. News that China's trade rebounded last month signaled the end of a six-month slowdown for the world's biggest buyer of raw materials. The report drove prices up for copper and other commodities, and that helped lift Newmont Mining, FreeportMcMoRan and other stocks in the materials industry. ''The one thing that stands out today is the better news out of China,'' said David Joy, the chief market strategist at Ameriprise Financial. Wall Street ''It comes as a pleasant surprise.'' The Standard & Poor's 500 index edged up 6.57 points, or 0.4 percent, to 1,697.48. The Dow Jones industrial average rose 27.65 points, or 0.2 percent, to 15,498.32. The Nasdaq composite gained 15.12 points, or 0.4 percent, to 3,669.12. With little other news to drive trading, the stock market had meandered lower this week. The S&P 500 index fell three days straight and remains down 0.7 for the week. It's still up 19 percent this year. Brad McMillan, chief County-wide investment officer for Commonwealth Financial Network in Waltham, Mass., said a number of concerns have weighed on the market this week. Comments from Federal Reserve officials have convinced many investors that the bank will begin pulling back its support for the economy in the coming months. In an interview on CNBC after the market closed, Richard Fisher, head of the Fed's Dallas branch, reaffirmed his view that it's time to wind down the bank's stimulus effort. At the same time, companies are warning of slower sales and turning in tepid second-quarter results. McMillan said it's starting to look like corporate earnings haven't kept up with the stock market's strong pace this year. ''I think people are realizing that stock values are getting disconnected from earnings growth,'' McMillan said. ''For the rally to continue, people will have to pay more for earnings that aren't growing that much.'' Investors are paying more for profits. A year ago, the price-earnings ratio for the S&P 500 was 13.4, according to the data provider FactSet. Now it's 15.6, which is still near the long-run average. Mondelez International, the maker of Oreo cookies, turned in better quarterly results than Wall Street had expected late Wednesday. The company also announced plans to spend another $5 billion buying its own stock. Mondelez International gained $1.44, or 5 percent, to $32.70. Tesla Motors jumped 14 percent following news that the maker of electric cars blew past DEAR DOCTOR K: I have osteoarthritis. Can you tell me what is happening in my joints that causes my painful symptoms? DEAR READER: The short answer is that osteoarthritis causes deterioration of cartilage in the joints. But I suspect you'd like a more detailed response. There are many different kinds of arthritis, but osteoarthritis is the most common. It causes pain, swelling and stiffness in the joints that worsens over time. The condition most often affects joints found in the shoulders, wrists, fingers, hips and knees. These joints are designed for a variety of movements that make possible all manner of activity, from playing tennis to playing the piano. Joints, like machines with moving parts, are vulnerable to friction. If a machine's moving parts come in contact with one another, friction will scratch the surfaces and cause pitting, distortion and eventually breakage. Two strategies can prevent such friction: applying a lubricant, or inserting a uneven. As a result, bony cushion. Human joints are overgrowths form along the margins of the protected in both damaged joints. ways. These little pieces The joints of overgrown affected by bone can get osteoarthritis are chipped off of the lined with a membone. Then they brane, called synbecome like gravovium, that proel in the joint, duces synovial making it hurt fluid. Synovial fluid lubricates the Dr. K worse. (I've put an illustration of joint, guarding by Anthony L. against friction and Komaroff, M.D. the process on my website, AskDocallowing movetorK.com.) ment. The combination of In addition, the ends of the bones in these joints damaged cartilage, bone are covered by a protective rubbing on bone and layer of cartilage. The inflammation all contough, elastic cartilage tribute to your symptoms cushions the bones. Carti- of osteoarthritis. So that's what lage can mold to its surroundings, so the oppos- osteoarthritis is. But you ing surfaces of a joint are asked what causes it. Medical research has provided perfectly matched. As cartilage becomes some answers. We know less resilient, microscopic that part of it is genetic: It pits and fissures appear on runs in families. It ran in its surface. Tiny pieces of my family. We are born cartilage may flake off with a vulnerability for into the area surrounding our joint cartilage to the joint, and the damaged become damaged if we cartilage can set off a injure the joint. If there is chain of events that results no injury, we escape getting osteoarthritis. in joint inflammation. But when a joint is As cartilage degenerates, patches of exposed injured by some trauma, bone appear. Over time, such as a job requiring lots the space between bones of heavy lifting or (as in narrows. The surfaces of my case) a sports injury, the bones change shape, the cartilage starts to leading to friction and digest itself. How do our genes trigger this process? joint damage. The bones try to repair Once we understand that, themselves, but the reno- treatments to prevent the vation attempts are disease could follow. Wall Street's profit forecasts for its most recent quarter. Revenue soared thanks to stronger sales of its Model S. Tesla gained $19.25 to $153.48. In economic news, the government reported that the average number of people who applied for unemployment benefits over the past four weeks dropped 6,250 to 335,500. That's the lowest level since November 2007, a month before the Great Recession got underway. Gradual but steady gains for the U.S. economy and corporate profits have lifted the stock market to record territory this year. The S&P 500 index closed at an all-time high of 1,709.67 on Friday. In other Thursday trading, the better economic news out of China sent copper, widely used for electronics and to wire buildings, up 10 cents, or 3 percent, to $3.27 a pound. Gold rose $24.60, or 2 percent, to $1,309.90 an ounce. The yield on the 10year Treasury note fell to 2.58 percent from 2.60 percent late Wednesday. Customer Appreciation Days Start Wednesday, August 14 Osteoarthritis often runs in families Sales, discounts, bargains And more … from Tehama County's most customerminded local businesses … Exclusively in the DAILY NEWS RED BLUFF TEHAMA COUNTY August 14-17 That's how these local businesses say "Thank You" for remembering to "shop local," supporting the tax base that provides local services, supports local jobs and much more. Don't Miss It! Look for posters around town next week. BUSINESSES: To participate with pre-promotion benefits contact your Daily News advertising representative before Friday, Noon! (530) 527-2151 SCHOOL PHYSICALS ARE YOUR CHILD'S IMMUNIZATIONS UP-TO-DATE? Lassen Medical Is Offering Saturday Walk In Clinics For School and/or Sport Physicals Saturday August 10th 9AM-1PM DON'T FORGET PHYSICAL FORMS AND IMMUNIZATION RECORD Accepting Most Insurances Including M-Cal & CHDP www.lassenmedical.com 2450 Sister Mary Columba Drive (530) 527-0414 Promoting community awarness! When was the last tme you were trained in CPR or First Aid? Daily and affordable classes: AHA/HCP or Pro-CPR Daycare EMS Approved Pediatric CPR/First Aid Industrial OSHA Approved CPR/First Aid Public Adult CPR & First Aid Wilderness First Aid Babysitting Safety Youth Water Safety 530-527-4997 margescpr@juno.com Alberston Training Center specializes in daily classes to meet your needs.