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8B – Daily News – Saturday, March 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 dropped Friday after another spike in oil prices overshadowed a report that the unemploy- ment rate fell to its lowest level in nearly two years. Crude oil rose 2.5 per- cent to $104.42 a barrel, the highest level since September 2008, after fighting in Libya escalat- ed. Markets have been rat- tled over the past two weeks as higher oil prices threaten to undermine the economic recovery by increasing transportation and production costs. Higher energy prices sent stocks lower despite news that the U.S. job market is improving. The Labor Department report- ed that the unemployment rate dipped to 8.9 percent in February from 9 per- cent the previous month. The rate has dropped for three months in a row and is now at its lowest level since April 2009. Employers added 192,000 jobs in February, the fastest pace in almost a year. ‘‘They’re tugging at each other, employment and oil,’’ said Jack Ablin, chief investment officer of Harris Private Bank. ‘‘Oil Thru Thurs. March 31, 2011 NoTAXSale *”no sales tax” in reference to discount given equal to the amount of calculated sales tax. Surge in oil prices sends stocks lower Wall Street is high enough that it has to be a concern. The longer it remains at this level the greater the chance that it upends our recovery.’’ The Dow Jones indus- trial average dropped 88.32 points, or 0.7 per- cent, to 12,169.88. The Dow had been down as many as 178 points earli- er. The Standard & Poor’s 500 index fell 9.82, or 0.7 percent, to 1,321.15. The Nasdaq composite index fell 14.07, or 0.5 percent, to 2,784.67. All 10 company groups that make up the S&P index fell. Financial com- panies fell 1.3 percent, the largest drop. Citigroup Inc. fell 3 percent and Goldman Sachs Group Inc. fell 2.1 percent after Bank of America analysts trimmed their earnings forecasts for the two banks. Analysts noted that they expect the turmoil in the Middle East will make institutional investors more cautious with their cash, leading to a drop in trading revenues. Each index eked out small gains for the week after falling the week before. The Dow had the largest move, inching up 0.3 percent. Wal-Mart Stores Inc., the world’s largest retail- er, raised its annual divi- dend 21 percent Friday. Its stock gained 0.1 per- cent to $52.07. Bond prices rose, send- ing their yields lower. The yield on the 10-year Trea- sury note fell to 3.50 per- cent from 3.56 percent late Thursday. Two stocks fell for every one that rose on the New York Stock Exchange. Consolidated volume came to 4.4 bil- lion shares. CORNERSTONE C O M M U N I T Y B A N K “As Local As You” Is your checking account free? Ours is “Better than Free”! • Free Standard Bank Logo checks • Free ATM/Debit cards • Free online banking • No monthly fees • No minimum balance requirements • Open with as little as $1 Open your “Better than Free” account today and ask me about our specials. CALL TODAY (530) 529-1222 www.ccbca.com 237 South Main Street Red Bluff CA Alissa Bell New Account Specialist Next to Tractor Supply MEMBER FDIC EQUAL HOUSING LENDER COMFORT SERVICE INC. Air Conditioning & Heating Tehama Counties Factory authorized Bryant Dealer Your First Call For Comfort • RESIDENTIAL • COMMERCIAL • NEW CONSTRUCTION • SALES • SERVICE • REPAIRS 24 HOUR SERVICE 530 529-1990 Lic #593323 www.CascadeComfort.com $10 OFF SERVICE CALL Mention this ad for Whatever it takessm CASCADE