Red Bluff Daily News

February 05, 2011

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10B – Daily News – Saturday, February 5, 2011 Furniture Depot 235 So. Main St., Red Bluff 527-1657 MON.-FRI. 9:00-6:00 SAT. 9:00-5:00 • SUN. 11:00-5:00 NEW YORK (AP) — Stocks eked out modest gains on Friday after the government reported a sharp drop in the unem- ployment rate. The Labor Depart- ment said the unemploy- ment rate dropped to 9 percent in January, the lowest rate since April 2009 and a sharp fall from 9.4 percent in December. Economists had expected the rate would rise to 9.5 per- cent, in part because of harsh winter weather Final Week of Clearance Recliner Latex Queen Mattress Sets that affected much of the country. 20% off All Orange Tags Additional Stocks shrug off mixed unemployment report Wall Street At the same time, the Share the Gift of Food With your neighbors who need it! Sponsored by the Downtown Red Bluff Business Association Benefiting the 2nd Annual from the Heart Food Abby’s Hair Works Allstate – John Trede Bank of America Big Picture/We Shoot’em Photography Bill McMahon CPA Bob’s Tires Business Connections Carenet Carmona’s Appliance Catherine Salas – Allstate Insurance City of Red Bluff Offices Tehama County Food Bank Now through Monday, February 14, please bring non-perishable food items to any of the businesses listed below! Look for the Red Food Drive Signs in the Windows! The Tehama County Food Bank served over 34,000 individuals in 2010. They can’t do it without you! Here’s where to deliver your food donations Katherine Townley, Attorney at Law Kathryn Thompson, Attorney at Law Lariat Bowl Lilia’s Beauty Shop Los Mariachis Restaurant Mercy High School Modern Cleaners Coldwell Bankers/C & C Properties Crafters Boutique Credit Bureau of Tehama County Crystal Art & Apparel Dale’s Carpet Design Dandy Lions Dennis Albright Law Office DiSalvage Company Diane’s House of Hair/OK Barber Shop Discover Earth Dolling Insurance Dominick’s Civil Engineering & Surveying Don Young DDS Dr. Shoff Edward Jones Investments Ehorn’s Antiques Elmore Pharmacy End of the Trail First Love Tattoo & Apparel Gayle’s Tuxedos Gary Ramseys Jewelry Gibson Realty Gold Exchange Gumm’s Optical Shoppe Hair Goddess House of Design Job Training Center Strawberry G. Weber, D.C. Published as part of a project co-sponsorship by the Montana Morrison Gallery Norm’s Printing Northern California Title Overland Post Peking Restaurant government said that 36,000 new jobs were created last month, the fewest in four months. The slow job growth left some analysts doubting that the economic recov- ery is gathering momen- tum. ‘‘We are seeing some improvements but the disappointing jobs cre- ation shows that the job market is not back to where we need it to be,’’ said Ryan Detrick, senior strategist at Scha- effer’s Investment Research. The lack of new jobs will likely lead the Federal Reserve to continue its efforts to boost the economy, he said. Placer Mortgage Company Plum Crazy Prairie Rose Boutique Premierwest Bank R. L. Dunbar DDS RB Surgery Center Red Bluff Art Gallery Red Bluff Interiors Rio Street Attorney Offices Ron Clark DDS Skyriver Music Sparrow Fine Art & Antiques State Farm- Tim Weatherson Sugar Shack Sub Culture Taste of Tehama TC Health Services The Good Books Therapeutic Massage Tips Tobin & Associates Tremont Café Truman Christ Insurance United Country Allegiance Village Pottery Wells Fargo Home Mortgage Wild Oak Call the Food Bank at 529-2264 if you would like to volunteer, or donate directly D NEWSAILY RED BLUFF TEHAMACOUNTY Jim O’Sullivan, chief economist at MF Global, said some investors took a skeptical view of the report. ‘‘The information value of this report is limited because it was obviously affected by the weather,’’ he said. The unemployment rate fell even as the economy added few jobs because many people who are unemployed gave up hunting for work, O’Sullivan said. The Labor Department includes only those actively looking for jobs when calculating the main unemployment rate. Bond traders, howev- expectations. Informa- tion technology compa- nies saw the strongest gains out of the 10 industries represented in the S&P 500 index. Tyson Foods Inc. rose almost 6 percent. Tyson’s profits increased 86 percent last quarter, in part because of rising prices for beef and pork. The Dow Jones indus- er, took the employment report as evidence of a stronger job market. They drove Treasury prices down and yields up. The yield on the benchmark 10-year Treasury note jumped to 3.64 percent, the highest yield since last May. The 10-year yield is widely used to set borrowing rates on a wide variety of loans. Strong earnings gave some stocks a lift. Health insurer Aetna Inc. shot up 12.5 per- cent. The company said it will nearly quadruple its quarterly dividend payment to shareholders after its fourth-quarter profit climbed 30 per- cent. JDS Uniphase Corp. soared 27 percent. The maker of telecom and cable equipment report- ed quarterly results that blew past analysts’ trial average rose 29.89 points, or 0.3 percent, to close at 12,092.15. The Dow climbed 2.3 percent for the week and has posted gains for nine of the last 10 weeks. The average of 30 large com- pany stocks cleared the 12,000 mark Tuesday, the first time it closed above that level since June 2008. The Standard & Poor’s 500 index rose 3.77 points, or 0.3 per- cent, to 1,310.87. The Nasdaq composite gained 15.42 points, or 0.6 percent, to 2,769.30. The S&P 500 rose 2.7 percent for the week and the Nasdaq 3 percent. All three major index- es fell last week. Finan- cial markets were jarred by swelling protests in Egypt aimed at toppling Hosni Mubarak’s 30- year grip on power. Falling shares and ris- ing ones were almost evenly matched on the New York Stock Exchange. Consolidated trading volume came to 4 billion shares. COMFORT SERVICE INC. 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