Issue link: https://www.epageflip.net/i/31273
8B – Daily News – Tuesday, May 10, 2011 NEW YORK (AP) — Commodity prices recov- ered some of last week’s losses Monday, helping to lift the stocks of energy and materials companies. The broader market also rose despite new worries about Greece’s debt problems. Oil prices once again moved above $100 a barrel and pushed energy stocks higher. Marathon Oil Corp. rose 5.3 percent. Baker Hughes Inc., which helps companies drill for oil and gas, gained 3.4 percent. Energy companies within the S&P 500 rose nearly 2 percent, the most among the 10 industries in the index. The S&P 500 added 6.09 points, or 0.5 percent, to close at 1,346.29. The Dow THE Locally owned & operated Keep the 5A>6 air out & the WARM air in with ENERGY EFFICIENT WINDOWS Better Built Windows REMEMBER US FOR ALL YOUR DOOR & MOLDING NEEDS. We’re not just for contractors 1040 B Monroe St., Red Bluff (530) 527-7962 LIC#659256 COMPLETE AUTO REPAIR All makes and models. We perform dealer recommened 30K, 60K, 90K SERVICES AT LOWER PRICES Smog Check starting at $ (most cars and pick-ups) 2595 + cert. Pass or FREE retest 527-9841 • 195 S. Main St. Energy, metals stocks rise with commodity prices Wall Street Jones industrial average gained 45.94 points, or 0.4 percent, to 12,684.68. The Nasdaq composite index rose 15.69 points, or 0.6 per- cent, to 2,843.25. The rise in commodity prices helped other indus- tries as well. Producers of metals and other materials rose 1.5 percent, second best among the S&P 500 groups, thanks to a 5 percent increase in silver prices and a 3 percent increase in corn. Metals and other commodi- ties suffered steep losses last week, when silver tumbled 27 percent and oil sank 15 percent because of fears of weaker global demand and higher margin requirements that were meant to lower the influence of speculators whose strategy of buying on margin is considered to be a reason why commodities have risen so steeply over the last year. Financial stocks were the only industry group to decline. Citigroup Inc. fell 2.7 percent on its first day of trading after completing a one-for-ten reverse split that drastically increased its share price by lowering the number of available shares. It is now trading in the $40 range for the first time since 2007. Companies often turn to reverse splits to raise their share prices as a way to attract institutional investors who may be prohibited from buying into companies with share prices in the sin- gle digits. Better sales pushed other companies higher. The nation’s largest food distrib- utor, Sysco Corp., jumped 10.7 percent after reporting a 4 percent rise in income. Analysts had expected a drop. McDonald’s Corp. rose 0.8 percent after report- ing that its global sales rose last month. The strongest growth came from its restaurants abroad, which stretch from Europe to the Middle East to Asia. Tyson Foods Inc. lost 6 percent after reporting that its earn- ings were flat from a year ago. Dollar Thrifty Automo- tive Group Inc. rose 13.8 percent after Hertz Global Holdings Inc. raised its buy- out offer for the car rental company to more than $2.2 billion. Rival Avis Budget Group Inc. is also trying to buy Dollar Thrifty. Most companies in the S&P 500 have reported earnings for the first quarter, and the trends have been strong. Through Friday, nearly three out of four companies released earn- ings that beat analysts’ expectations. Economic data, by con- trast, has been mixed. Growth for the manufactur- ing industry slowed last month, and the economy grew at a lower-than- expected 1.8 percent in the first quarter. European stock markets fell on worries that Greece will need more time or assistance from other EU countries to make payments on its debt, or worse, the country could partially default on the debt that it owes to bond investors. Standard & Poor’s down- graded Greece’s debt rating even further into junk status. The Euro Stoxx 50, an index of large companies in countries that use the euro, fell 1.7 percent. The yield on the 10-year • VITAMINS • MINERALS • HERBS Kelp Herb Shop Available Open: Tuesday-Friday 10:30 a.m.-5:30 p.m. Suite #E, Red Bluff, CA 96080 (530) 528-2930 333 So. Main St. Treasury note remained close to its lowest point of the year, 3.13 percent. It fell that low on Friday after a German magazine claimed that Greece may drop the euro currency. Greece’s government strongly denied the claim. Worried investors have bought Treasurys, tra- ditionally seen as a safe investment. When Treasury prices rise, their yields fall. Two stocks rose for every one that fell on the New York Stock Exchange. Consolidated volume came to 3 billion shares. Education Calendar May, 2011 Tuesday, May 10 CPR 6-10 pm Columba Room Call 529-8026 Wednesday, May 11 Waterbirth 6:30-8:30 pm Columba Room Call 529-8026 Tuesday, May 17 Diabetic Education 12:30-4:30 pm Columba Room Call 529-8026 Wednesday & Thursday, May 18-19 Auxiliary Avalon Design Framed Art Warde/McAuley Room Call 529-8002 Every Thursday Grief Support Group 3-5 pm • Coyne Center Call Kristin 528-4207 St. Elizabeth Community Hospital A member of CHW www.redbluff.mercy.org/sports redbluff.mercy.org tudio 39 Fitness Center Offers FitCamps & Personal Training Available Sessions @ 5am, 6am, 9am & 5:30pm Call for Details: (530) 690-2023 or visit www.redbluffstudio39.com 800 East Ave. Red Bluff, CA 96080 Chris’