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8B – Daily News – Thursday, May 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 stock on hand Thru May 8th, 2011 NEW YORK (AP) — Serious doubts about the health of the job market and the pace of the eco- nomic recovery put mar- kets on edge Wednes- day. Stocks sink after weak data on jobs Wall Street Stocks fell after pay- roll processor ADP said companies added 179,000 new jobs in April, far fewer than economists had expect- ed. That raised worries about what the govern- ment’s monthly jobs report for April will reveal when it’s released Friday. In a separate report, the Institute for Supply Management said its service sector index rose at the slowest pace in 8 months in April, as many companies express concerns about higher food and gas prices. The U.S. service industry includes nearly everything that isn’t manufacturing — from hospitals and software developers to financial firms and mining com- panies. It employs about 90 percent of the U.S. work force, so signs of a slowdown in the service sector index have impli- cations for the overall economy. ‘‘I think we’re getting indications that (the U.S. economy) is not that healthy,’’ said Kim Caughey Forrest, equity research analyst at Fort Pitt Capital Group. Even so, the broader markets are up between 6 percent and 10 percent for the year. Stronger-than-expect- ed earnings reports led ★★ ★ to a market rally that started in mid-April. Now that earnings sea- son is coming to an end, job reports are most likely to sway markets over the next two days. The Labor Department will release its weekly look at first-time appli- cations for unemploy- ment benefits Thursday morning, followed by the closely watched monthly labor market report on Friday. Economists forecast that employers added 185,000 workers in April. The unemploy- ment rate is expected to remain unchanged at 8.8 percent. If the numbers fall short, experts say the broader markets could fall further. The Dow Jones industrial average fell 83.93 points, or 0.7 per- cent, to close at 12,723.58 on Wednes- day. The average of 30 large companies is still up 10 percent for the year. The Standard & Poor’s 500 index fell 9.30 points, or 0.7 per- cent, to 1,347.32. It remains up 7 percent for the year. The Nasdaq compos- ite index fell 13.39, or 0.5 percent, to 2,828.23. It’s up 6.6 percent this year. Signs that the eco- nomic recovery is slow- ing also dragged down commodity prices. Sil- ver fell for the third day straight, losing 7.5 per- AMERICAN SELF-STORAGE 64 Mulberry Ave., Red Bluff • 527-1755 • Fully Fenced • Onsite Manager • Well Lit Property website: www.americanselfstorage.biz • RV & Vehicle parking now available May Special 8x10 & 10x24 the first 3 months *Some restrictions apply. Good through 5/31/11 Ask about our referral program...send us a referral; if they rent you get a check for $25! CALL NOW FOR RATES! 1/2 OFF cent to settle at $39.39 an ounce. Crude oil slipped 1.6 percent to $109.24 a barrel. And falling prices for oil and metals hurt the You are Cordially Invited to Red Bluff Garden Club’s “Elegant Affair” 50th Annual Standard Flower Show Tehama Co. Fairgrounds Saturday & Sunday, May 7 & 8 10 am to 5 pm Free Admission HUGE PLANT SALE Flower Design & Plant Propagation Demo’s Info: Call 530-527-9403 Home Arts Building energy and materials companies whose for- tunes depend on them. Mining giant Freeport- McMoRan Copper & Gold Inc. lost 3.9 per- cent. Occidental Petro- leum Corp. lost 2.5 per- cent. 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Kellogg Co. said its net income fell 12 percent as the world’s biggest cereal maker dealt with higher costs. The results missed analysts’ expec- tations. Kellogg’s stock fell 1.2 percent. Time Warner, the owner of Warner Bros. and HBO, said its first- quarter earnings fell 10 percent because of a lack of hit movies in the peri- od. Advertising revenue rebounded, but its shares still fell 3.3 percent. AOL’s net income dropped sharply as the Internet company report- ed lower advertising and subscription revenue. Its stock fell 1.3 percent. Bond prices rose, sending yields lower. The yield on the 10-year Treasury note dropped to 3.22 percent from 3.26 percent late Tues- day. More than two shares rose for every one that fell on the New York Stock Exchange. Trad- ing volume was 4.7 bil- lion shares. 1/2 off Select Items*