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4B Daily News – Saturday, October 5, 2013 Stocks rise on hope that DC will end its bickering NEW YORK (AP) — Wall Street thinks Washington's gridlock could be easing. Stocks posted modest gains Friday, driven by budding optimism among traders that Washington's bickering politicians can reach an agreement on the budget and on increasing the government's borrowing limit soon. ''Call it 'modest optimism,''' said Frank Davis, director of sales and trading at LEK Securities. The stock market rose for just the third time in 12 days. The Dow Jones Wall Street industrial average closed up 76.10 points, or 0.5 percent, at 15,072.58. The Standard & Poor's 500 index rose 11.84 points, or 0.7 percent, at 1,690.50 and the Nasdaq composite index gained 33.41 points, or 0.9 percent, at 3,807.75. Traders aren't expecting a miracle. The rhetoric between Democrats and Republicans remains as hot as ever. But the pressure to end the shutdown and raise the debt ceiling is climbing quickly. ''The thought is that the Republicans and Democrats will soon work this out before Oct. 17,'' Davis said, referring to the date the Treasury Department said the government's borrowing authority would be exhausted. On Friday, House Speaker John Boehner reemphasized that he won't let the U.S. government default on its debts. There were also reports that Boehner was looking to bring House Republicans together to pass some sort of budget compromise that would include raising the debt ceiling. Davis noted that it's a positive sign that investors are buying stocks heading into a weekend, especially with how volatile the political climate in Washington has been. Despite Friday's gains, the trend for the last three weeks in the stock market has been lower. The Dow is down nearly 4 percent since hitting an all-time high on Sept. 18. While remote, the possibility of the U.S. failing to pay its bills or creditors remains a deep concern to investors. ''Credit markets could freeze, the value of the dollar could plummet, U.S. interest rates could skyrocket, the negative spillovers could reverberate around the world, and there might be a financial crisis and recession that could echo the events of 2008 or worse,'' the Treasury Department said in a report Thursday. Investors went through a similar case of political brinkmanship in August 2011, which ultimately led to Standard & Poor's downgrading the United States' credit rating. The S&P 500 fell roughly 12 percent in the weeks that followed. Because of that precedent, the political noise out of Washington has come to dominate nearly all conversations on Wall Street. Under normal circumstances, traders would have the government's monthly jobs report to parse through on the first Friday of the month. But the shutdown has forced the Labor Department to postpone the release of September's data for at least the foreseeable future. WORLD BRIEFING Prospect for swift end to shutdown dims WASHINGTON (AP) — Prospects for a swift end to the 4-day-old partial government shutdown all but vanished Friday as lawmakers squabbled into the weekend and increasingly shifted their focus to a midmonth deadline for averting a threatened firstever default. ''This isn't some damn game,'' said House Speaker John Boehner, as the White House and Democrats held to their position of agreeing to negotiate only after the government is reopened and the $16.7 trillion debt limit raised. House Republicans appeared to be shifting their demands, de-emphasizing their previous insistence on defunding the health care overhaul in exchange for re-opening the government. Instead, they ramped up calls for cuts in federal benefit programs and future deficits, items that Boehner has said repeatedly will be part of any talks on debt limit legislation. Senate Majority Leader Harry Reid, DNev., also said the two issues were linked. ''We not only have a shutdown, but we have the full faith and credit of our nation before us in a week or ten days,'' he said. Reid and other Democrats blocked numerous attempts by Sen. Ted Cruz to approve House-passed bills reopening portions of the government. The Texas Republican is a chief architect of the ''Defund Obamacare'' strategy and met earlier this week with allies in the House and an aide to Majority Leader Eric Cantor, R-Va., to confer on strategy. Woman killed in DC chase was delusional STAMFORD, Conn. (AP) — The Connecticut woman who was shot to death outside the U.S. Capitol after trying to ram her car through a White House barrier had been under the delusion the president was communicating with her, a federal law enforcement official said Friday. The woman's mother said she had been suffering from postpartum depression. Miriam Carey's killing at the hands of police Thursday was Washington's second major spasm of deadly violence involving an apparently unstable person in 2 1/2 weeks. Interviews with some of those who knew the 34year-old woman suggested she was coming apart well before she loaded her 1year-old daughter into the car for the drive to Washington. Carey had suffered a head injury in a fall and had been fired as a dental hygienist, according to her former employer. Obama's Asia noshow is boost for China WASHINGTON (AP) — President Barack Obama's decision to scrap his Asia trip is a setback for Honor your female employees! his much-advertised pledge to shift the focus of foreign policy to the Pacific and a boost for China's attempt to gain influence in the region. By staying home because of the partial government shutdown, Obama hands new Chinese leader Xi Jinping a chance to fill the void at two Asian summits Obama had planned to attend. It's the third time since 2010 that Obama has cancelled an Asia trip, all because of domestic political crises. Washington's budget crisis has reached the point where the White House felt compelled to skip Asia, giving Obama room to work with Congress on reopening the government. Had Obama left to attend the meetings, it would have given weight to critics who have said he's more willing to negotiate with foreign leaders than the speaker of the House. Secretary of State John Kerry will represent him at the summits in Indonesia and Brunei. Budget strains had already put a damper on the Pentagon's push to assert itself in the Pacific, and administration officials had begun casting the shift in policy more in terms of expanding diplomatic efforts, creating more trade and economic ties and just showing up in Asia more often. House hardliners, backed by voters back home National Business Women's Week October 21-25 Run photo and bio on your business, career, community involvement. Magazine-size supplement to The Daily News Published Wednesday, October 23 Advertising Space Reservations Deadline Monday, October 14 This special edition will be pre-promoted in the Daily News and will be published on high-bright paper. It will feature articles of interest to women in the business and professional workforce, featuring a locally produced article on two local business women of outstanding success and international reputation! Ad Sizes 1/16 page 1/8 page 1/4 page 1/2 page 1/2 page Full page Back Page Prices (2.4" x 2.3") (4.9" x 2.3") (4.9" x 4.75") (vertical 4.9" x 9.65") (horizontal 10" x 4.75") (10" x 9.65") (10" x 9.65") $70 $100 $160 $285 $285 $510 $750 Full Color add $26 Full Color add $40 Full color add $66 Full color add $94 Full color add $94 Full color add $120 includes full color WASHINGTON (AP) — Freshman Rep. Markwayne Mullin of Oklahoma is one of the hardline House conservatives demanding concessions from President Barack Obama on his health care law in exchange for ending the federal government shutdown. ''We have got to get to the point where we're working like a functional government, not like a dictatorship,'' said Mullin, a 36-year-old rancher and plumbing business owner who insists that the president and Senate Democrats must negotiate on an emergency spending bill to re-open the government. In Mullin's expansive district, which stretches along eastern Oklahoma from Kansas to Texas, many constituents stand firmly behind the young Republican congressman even as they begin to feel the impact of the first government shutdown in 17 years. They're unbending in their opposition to the 3-year-old health care law and endorse any effort to unravel it. ''Wait it out,'' Micah Thompson, a 32-year-old seminarian student and Army reservist from Canadian, Okla., advised Mullin. ''It's chicken. Someone's got to blink first.'' For Thompson, the shutdown isn't just a political fight in Washington. His brother, an employee at the McAlester Army Ammunition Plant, has been furloughed. This weekend, Thompson himself faces cancellation of his Army drills and the loss of pay. Egyptian forces fire tear gas, close Tahrir Square CAIRO (AP) — Egyptian riot police fired volleys of tear gas and locked down Cairo's Tahrir Square Friday as clashes broke out in a rare push by Islamist supporters of the ousted president to take control of the iconic square, leaving at least four dead. With lines of armored vehicles and barbed wire, troops sealed off the square and diverted traffic after the Muslim Brotherhood, the group from which ousted president Mohammed Morsi hails, called on its supporters to march there. Thousands of Morsi's supporters followed suit from different parts in the city, chanting ''El-Sissi is the enemy of God'' and ''Down with the murderer!'' Those were references to Defense Minister Abdel-Fatah el-Sissi, who forced Morsi from power on July 3 after millions took to the streets demanding the Islamist leader step down. In its statements, the Muslim Brotherhood called Tahrir Square ''the capital of the revolution.'' It is the birthplace of the 2011 uprising that forced longtime president Hosni Mubarak from power and led to Morsi's short-lived tenure. $ 30,00331 in Discount Coupons were published last week in the DAILY NEWS RED BLUFF Includes 12-month online publication on www.redbluffdailynews.com, with page-turn technology & click-thru to advertiser web sites! Call your Daily News advertising representative to place your space reservation today! 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 (530) 527-2151 TEHAMA COUNTY Vietnam military mastermind dies at 102 HANOI, Vietnam (AP) — Gen. Vo Nguyen Giap, the brilliant and ruthless commander who led a ragtag army of guerrillas to victory in Vietnam over first the French and then the Americans, died Friday. The last of the country's old-guard revolutionaries was 102. A national hero, Giap enjoyed a legacy second only to that of his mentor, founding president and independence leader Ho Chi Minh. Giap died in a military hospital in the capital of Hanoi, where he had spent nearly four years because of illnesses, according to a government official and a person close to him. Both spoke on condition of anonymity before the death was announced in statecontrolled media. Known as the ''Red Napoleon,'' Giap commanded guerrillas who wore sandals made of car tires and lugged artillery piece by piece over mountains to encircle and crush the French army at Dien Bien Phu in 1954. The unlikely victory — still studied at military schools — led to Vietnam's independence and hastened the collapse of colonialism across Indochina and beyond. Giap then defeated the U.S.-backed South Vietnam government in April 1975, reuniting a country that had been split into communist and noncommunist states. He regularly accepted heavy combat losses to achieve his goals. Karen threatens Gulf Coast BRAITHWAITE, La. (AP) — Pickups hauling boat trailers and flatbed trucks laden with crab traps exited vulnerable, low-lying areas of southeast Louisiana on Friday as Tropical Storm Karen headed toward the northern Gulf Coast, a latearriving worry in what had been a slow hurricane season in the U.S. On Friday afternoon, Alabama joined Louisiana, Mississippi and Florida in declaring a state of emergency as officials and residents prepared for Karen, expected to near the central Gulf Coast on Saturday as a weak hurricane or tropical storm. 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