Red Bluff Daily News

December 31, 2013

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4D Daily News – Tuesday, December 31, 2013 Stocks barely budge in quiet end-of-year trading NEW YORK (AP) — The stock market ended a quiet Monday mostly where it began as investors shut their books for what has been an extraordinary year on Wall Street. Traders had little corporate or economic news to work through. The bond market was quiet as well. The yield on the benchmark 10-year Treasury note continued to hover near 3 percent. The Dow Jones industrial average moved less than 30 points the entire day, the narrowest range for the index since February 2007. Approximately 2.3 billion shares changed hands on the New York Stock Exchange, 40 percent less than average. The Dow ended the day up 25.88 points, or 0.2 percent, to 16,504.29. ''The very narrow range reflects that there's Wall Street not a lot of news out there and a lot of investors' positions are closed for the year,'' said Alec Young, chief global strategist with S&P Capital IQ. The Standard & Poor's 500 index fell less than a point to 1,841.07 and the technology-heavy Nasdaq composite fell 2.39 points, or 0.1 percent, to 4,154.20. Walt Disney rose $1.88, or 3 percent, to $76.23, the most in the S&P 500. Analysts at Guggenhiem Securities upgraded Disney's stock to a ''buy'' from a ''hold'' on Friday. With just one trading day left in the year, 2013 is looking to be a memorable one for investors. The S&P 500 is up 29.1 percent so far, on pace for its best year since 1997. The Dow is up 26 percent, the CARE TO COMMENT? At redbluffdailynews.com, scroll to the end of any story, click the link and type away. GARY'S AUTO BODY & 24 HOUR TOWING, INC. 13540 Trinity Ave, Red Bluff (530) 527-8262 • (530) 528-8261 IF NO ANSWER CALL 529-7400 most since 1996. With 2013 in the books, investors have turned their attention to the beginning of 2014. Few expect next year to be as good to investors as 2013 was. ''After a year like this, people start to think a 30 percent-plus year is normal,'' said Ron Florance, deputy chief investment officer for Wells Fargo Private Bank. ''We need to be realistic going into next year.'' The next big piece of news investors will have to work through will be the December jobs report, which will be released Jan. 10. There is also corporate earnings season, which will start in the second half of January. Corporate earnings will be important, particularly since this upcoming season will encompass the closely watched holiday shopping period. ''The market is rally- ing on the idea that economic growth is picking Facebook still leads social media, but sees slower growth WASHINGTON - This is not your father's Facebook. It's your grandfather's. New data from the Pew Center for Internet and American Life released Monday show that Facebook's strongest growth over the past year has come from users over the age of 65, as more older users sign onto the site to keep in touch with their friends, children and grandchildren. The survey found that 45 percent of American seniors who use the Internet are on Facebook, up from 35 percent the previous year. Use among teens, however, has stagnated at 84 percent. That's in keeping with growing concern that Facebook is seeing lower engagement with the younger users that drove its early popularity, something www.garysautobodyandtowing.com Keith Ellis Owner 36 Years in Tehama County AUTO BODY REPAIR that the company has acknowledged itself in an earnings call this year. Facebook may be a victim of its own success after nearly ten years as the country's leading social network, said Pew senior researcher Aaron Smith. "It's hard to get more than 85 percent of anyone doing anything," he said. 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