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8B – Daily News – Wednesday, October 13, 2010 Traders pushed shares higher Tuesday after minutes from the latest Federal Reserve meet- ing kept hope alive that the central bank would take more action to stimulate the economy. The Fed had said after its Sept. 21 meet- ing that it was con- cerned that inflation was too low, and sug- gested it could step up Stocks end higher after release of Fed minutes Wall Street NEW YORK (AP) — its purchases of govern- ment bonds and take other action to encour- age lending. Minutes from the September meeting, released Tuesday after- noon, indicated that Fed Chairman Ben Bernanke and his colleagues were nearing a consensus on what steps to take. Traders are hoping for more concrete news from the Fed following its next meeting in early November. The dollar fell against other currencies after the Fed minutes came out as traders anticipated another reduction in U.S. inter- est rates. Stocks turned higher in the afternoon, led by financial stocks. Tech- nology stocks edged slightly higher, led by Citrix Systems, Inc. and Apple Inc. The tech-heavy Nas- daq composite index rose 15.59, or .6 per- cent, to 2,417.92, while the Dow Jones industri- al average rose 10.06 points, or .09 percent, to 11,020.40. Google shares rose by $2.55 to $541.39 after the company said it would invest in wind farms off the East coast. Apple hit a new record, approaching $300 for the first time, after Wal- Mart Stores Inc. said its stores will start carrying the popular iPad. In other corporate news, shares of King Pharmaceuticals Inc. surged after Pfizer Inc. agreed to buy the drug- maker for $3.6 billion in cash. Traders sold shares of CSX Corp. before the company reports results after the market close. The Standard & Poor’s 500 index rose 4.45, or 0.38 percent, to 1,169.77. Barber Shop $ Cheers 600 Open 6 days 570-2304 259 S. Main St. Tractor Supply Center Senior Cuts Shares of Intel Corp. rose 1.1 percent in after- hours trading after the chipmaker announced that it beat analysts esti- mates on earnings per share and total revenue in the third quarter. CSX Corp., one of the largest railroad com- panies in the United States, also beat analyst estimates on both earn- ings and sales. Shares rose 2.4 percent in after- hours trading. 22755 Antelope Blvd. Red Bluff, CA 96080 (530) 527-9166 Open Mon. thru Sat. 10am – 6pm OK TRIMMER •Trimming and cleaning are easy with quick release and replaceable grill. •Powerful, efficient and quiet motor • Works well with flowers and various herbs •One person works as fast as ten or more. Select from 15 varieties of scissors! The Electric Man For all your electrical needs • New Outlets / 220 • Fans / Fixtures • Pools / Spas • Code Corrections • Troubleshooting • Panel Upgrade • Telephone Wiring $10.00 Customer Discount FREE Estimates License# 826543 347-4441 Red Bluff Garden Club presents “MASQUERADE” Design Program & Luncheon Saturday, October 30, 2010 Rolling Hills Casino Program Unmasking the Secrets of Floral & Garden Design VENDORS - SILENT AUCTION RAFFLE - LIVE AUCTION Plated Lunch: Beef, Chicken or Vegetarian RESERVED TICKETS $25 LAST DATE TO PURCHASE TICKETS IS OCTOBER 20TH Tickets: Shirley 529-2306 • Diane 824-5661 California Kitchen, 529-2482 The Plant Barn, Chico 345-3121 Treasury prices trad- ed in a tight range. The yield on the 10-year Treasury note, which moves opposite to its price, rose slightly to 2.43 percent. Bond mar- kets were closed Mon- day for the Columbus Day holiday. Stocks have rallied in recent weeks as traders bet the Fed will enact the bond-buying pro- gram as early as its next meeting, which ends Nov. 3. Buying bonds would drive interest rates and yields even lower, which makes stocks a more attractive investment. Paul Brigandi, senior portfolio manager at Direxion Funds, said a pause in the market is normal because stocks have surged on expecta- tions for Fed actions and upbeat earnings in the coming weeks. The Dow has risen 1.7 per- cent this month and is up about 10 percent since the beginning of September. ‘‘A lot of the best- case scenarios are priced into the market right now,’’ Brigandi said. Now investors want to pause and see if those scenarios play out, he said. About four stocks rose for every three that fell on the New York Stock Exchange where consolidated volume came to 4 billion shares.