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6B Daily News – Tuesday, August 27, 2013 Stock market sags following Kerry remarks NEW YORK (AP) — The stock market sagged Monday after the Obama administration ratcheted up pressure against Syria. Secretary of State John Kerry said there was ''undeniable'' evidence of a largescale chemical weapons attack in Syria last week, and his remarks suggested that the administration was edging closer to a military response. Major indexes had been holding onto slight gains on Monday until the last hour of trading. That's when Kerry's televised talk Wall Street appeared to jolt it lower, said Stephen J. Carl, head equity trader at the Williams Capital Group. The S&P 500 index ended with a loss of 6.72 points, or 0.4 percent, at 1,656.78. The index was up two points just before Kerry began reading his statement. The Dow Jones industrial average fell 64.05 points, or 0.4 percent, to close at 14,946.46. The Nasdaq composite slipped 0.22 of a point, or 0.01 percent, to 3,657.57. A handful of corporate deals gave the market a lift in the early going. Amgen surged following its announcement late Sunday that the biotech giant plans to buy Onyx Pharmaceuticals for $10.4 billion. The acquisition would give Amgen three approved cancer treatments and several other potential drugs. In economic news, the government reported that orders for long-lasting manufactured goods plunged 7.3 percent last month, the steepest drop in nearly a year. Demand for commer- All makes and models. We perform dealer recommened Members Welcome 30K, 60K, 90K SERVICES AT LOWER PRICES Smog Check $ starting at + 25958 $ 25 certificate (MOST CARS & PICK-UPS) 527-9841 • 195 S. Main St. cial aircraft sank and businesses spent less on computers and electrical equipment. Jack Ablin, the chief investment officer at BMO Private Bank in Chicago, said it's likely that investors are looking past the one bad economic report because so many major events loom ahead. The Federal Reserve will start a two-day meeting Sept. 17, during which offi- MOULE'S TEHAMA COUNTY GLASS WE SERVICE Garage Doors The redesigned www.redbluffdailynews.com is now available. Springs Cables Sectional Remotes • Rollers 515 Sycamore St., Red Bluff • 529-0260 Easier navigation. More photos. Faster load time. Better Sharing. More Vibrant. DAILY NEWS www.redbluffdailynews.com RED BLUFF Hoyt-Cole Chapel of the Flowers TEHAMA COUNTY redbluffdailynews.com Funerals • Cremations • Prearrangements 816 Walnut St., Red Bluff, CA (530) 527-1174 FD652 www.chapeloftheflowers.net cials will discuss phasing out support for the economy. After that, Germany holds national elections that could change how the region handles rescue loans for troubled countries. The U.S. Congress returns from its summer break next week and will take up a new budget before the fiscal year starts on Oct. 1. ''These issues are big enough to transcend daily data,'' Ablin said. The market is expected stay quiet this week, when many traders typically take a summer break before returning after Labor Day. In corporate news, shares of TMS International jumped 12 percent after members of the Pritzker family agreed to buy the industrial company. The Pritzker family, one of America's wealthiest, operates a global industrial conglomerate and founded the Hyatt hotel chain. TMS jumped $1.91 to $17.48. With five trading days left in August, the major indexes are on track to end the month with slight losses. The Dow has lost 3.6 percent. If that holds, it would be the Dow's worst month since May 2012. In the market for U.S. government bonds, the yield on the 10-year note slipped to 2.78 percent from 2.82 percent late Friday. The price of oil fell 50 cents to $105.92 a barrel. Gold for December delivery ended the regular trading day down $2.70 at $1,393.10 an ounce. But in evening trading, gold prices crossed above $1,400 for the first time since June. Stromer Realty Specializing in Residential to Ranches 590 Antelope Blvd Red Bluff (530) 527-3100 TOM'S Glass & Muffler 214 MAIN ST., RED BLUFF 530 527-5767 ✓ TUNE-UPS ✓ SMOGS ✓ AIR CONDITIONERS ✓ AUTO GLASS ✓ MUFFLERS ✓ GENERAL REPAIRS