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8B Daily News – Tuesday, October 22, 2013 S&P 500 ekes out a small gain to set a new record NEW YORK (AP) — The Standard & Poor's 500 index eked out the smallest of gains to set a record high Monday as investors assessed third-quarter earnings news. Earnings will hold investors' attention this week as major U.S. companies including McDonald's, Boeing and Procter & Gamble report their results. Rising profits have been one of the key supports for this year's rally in stocks. Toymaker Hasbro and the V.F. Corporation, which owns clothing brands including Wrangler and The North Face, were among the biggest gainers in the S&P 500 after reporting earnings that beat analysts' expectations. McDonalds dipped after reporting disappointing revenue. The S&P 500 closed up a fraction of a point at 1,744.66, an all-time high, its third consecutive record close. Stocks climbed last week after Washington reached a deal to end a 16day government shutdown and avert a default on the Wall Street nation's debt. The index is up 22 percent so far this year, putting it on track for its best year since 2009. The Dow Jones industrial average edged down 7.45 points, or 0.1 percent, to 15,392.20. The Nasdaq composite rose 5.77 points, or 0.2 percent, to 3,920.05. Stocks will likely continue adding to their gains, at least until the end of the year, as investors get more confident that the market's rally is sustainable, said Joe Bell, a senior equities analyst at Schaeffer's Investment Research. ''We've had a pretty decent run here,'' Bell said. ''It wouldn't surprise me if we saw the momentum slow a bit through the end of October and then have a nice rally through November and December.'' McDonald's fell 61 cents, or 0.6 percent, to $94.59 after the world's biggest hamburger chain's revenue fell short of Wall Street analyst's expectations. Hasbro surged after reporting that its net income rose 17 percent as sales increased. Its adjusted results and revenue topped analysts' estimates. The stock climbed $2.48, or 5.2 percent, to $49.72. V.F. Corporation rose $6.93, or 3.4 percent, to $211.23 after its earnings beat analysts' expectations. Netflix jumped in afterhours trading after the company said its net income quadrupled to $32 million, or 52 cents a share. That beat analyst expectations for 48 cents a share. Companies in the S&P 500 are expected to report earnings growth of 3.2 percent for the July-to-September period, according to the latest data from S&P Capital IQ. About 60 percent of companies that have reported earnings have beaten analysts' expectations. ''Earnings so far have been excellent,'' said Jerry Braakman, chief investment officer of First American Trust. ''Earnings are coming in and beating (expectations) by a penny here and there, and we're very comfortable with that.'' Company earnings will likely continue to grow as the outlook for the global economy brightens, as Europe continues to recover from its recession and growth in China picks up, Braakman said. The continued stimulus for the economy from the Federal Reserve should also help support the economy and corporate earnings. The U.S. central bank is currently buying $85 billion of bonds every month to support the economy. The government's Over 25 years of experience A Mane Attraction Amazing Finds Abbey's Hair Works Salon NEW & USED FURNITURE & MUCH, MUCH MORE! Blue Sun Hair Studio!! Hurry in for the Fall Haul Sale 245 Pine Street Now in Stock! (Behind Gipson Realty) Popular customer request has moved to 731 Main St. Suite 1A (behind the Tremont Cafe) Join us for our Grand Opening Oct. 31st • 10-4 Raffel Prizes • Refreshments 10% Off Services for month of Oct. only 530-527-0550 5am to 11pm ONE STOP ✓Check out our selection of beer, wine & tobacco Your One Stop Convenience Store 714 Walnut St., Red Bluff Two Locations - 30,000 square feet RED BLUFF 530-917-1138 REDDING 530-917-7797 22660 Antelope Blvd. 3351 S. Market St. amazingfindsredbluff.com amazingfindshome.com 9am – 8pm (closed Saturdays) 9am – 6:30pm daily Starting on The September 3rd is now And I'm moving to 527-3974 So come check out my new place!! And I look forward to your business!! monthly jobs report for September will be released Tuesday, giving investors more information about the strength of the U.S. economy. The report, which is typically released on the first Friday of every month, was delayed because of the government shutdown. Economists predict that the U.S. economy added 180,000 jobs in September, according to data provider FactSet. Investors may discount the report though, as it is being published more than two weeks late. ''It's old information, it's not as current as it normally is,'' said Kate Warne, a market strategist at investment adviser, Edward Jones. Homebuilders slumped after Americans bought fewer previously occupied homes in September than the previous month, held back by higher mortgage rates and rising prices. The National Association of Realtors said Monday that sales of re-sold homes fell 1.9 percent to a seasonally adjusted annual rate of 5.29 million. STOVE JUNCTION BBQ PELLETS The North State's premier supplier of stoves All makes and models. We perform dealer recommened Members Welcome 30K, 60K, 90K SERVICES AT LOWER PRICES Smog Check Serving Butte, Glenn & Tehama Counties Tues-Sat 9am-5pm • Closed Sun & Mon $ starting at 22825 Antelope Blvd., Red Bluff 530-528-2221 • Fax 530-528-2229 www.thestovejunction.com + 25958 $ 25 certificate (MOST CARS & PICK-UPS) 527-9841 • 195 S. Main St. orn's Eh ANTIQUES & MORE... Ralph and Joanne Ehorn are Retiring and want to thank everyone for their friendship and patronage. Voted Best Antique Store 5 years in a row!!!!!!! RETIREMENT SALE 50% OFF Starting October 16th, 2013 at 10 a.m. • Furniture • Lanterns • Glassware • Clock • Pottery • Figurines • Collectibles • Jewelry • Art Work • Photographs • Anvils • Vices • Cast Iron Items • Fishing Poles, Reels & Lures • Purses • Vintage Clothes • Knives • Cameras • Pocket Watches • Wrist Watches • Indian Baskets AND MANY MORE ITEMS...... Think Christmas!!!!! COWDOG RODEAR COMPETITION Nine Handlers - Nine Dogs - One Amazing Event! "Showcasing the brilliance of the cowdog and the compassion of the cattleman for his dog, his horse and the livestock they handle." October 26, 2013 • 10AM Tehama District Fairgrounds FREE ADMISSION This will be a fundraising event, featuring a Calcutta auction to benefit the Back to School Project of Tehama County. All proceeds will send local disadvantaged school-age children on a shopping trip to purchase new clothing, shoes and backpacks For more info. check out our website: Presented by Crystal Rose Cowdog College 629 Main St., Red Bluff, CA (530) 527-0360 in association with Rodear America and the Back to School Project www.backtoschoolproject.com For sponsorship opportunities, call 530-529-4074