Issue link: https://www.epageflip.net/i/31967
8B Daily News – Thursday, May 19, 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) — Widespread gains in com- modity prices lifted energy and materials companies as part of a broad stock market rally Wednesday after three days of declines. Stocks built on morning gains after the Federal Reserve released minutes that showed that officials agreed that the economy is improving, which could lead to higher demand for raw materials like steel and fertilizer. The Fed’s bond-buying program has kept interest rates low and sent com- modities and stock prices higher overall since late August. The U.S. stock market has gained nearly 25 percent since the central bank signaled that it would begin the asset-purchase plan. Commodity prices had fallen over the last two weeks after months of gains on concerns about the impact of high energy prices on the economy. Oil gained nearly 4 per- cent to move back above 20-60% off Parking Lot Savings MANY ONE OF A KIND ITEMS! Commodity rally sends stock indexes higher Wall Street Inc. and Staples Inc. sent contrasting messages about how much corpora- tions are spending. Dell’s strong results suggested that companies were spending more on technol- ogy, but Staples’ report suggested businesses were reluctant to lay out cash for basic needs like office sup- plies. ‘‘Businesses are spend- ing in the technology sec- tor to improve productivi- ty,’’ said Kim Caughey, equity research analyst at Fort Pitt Capital Group. ‘‘But in the business-sup- ply area, they might not buy quite as many paper clips.’’ $100 a barrel, due in part to a Dept. of Energy report that inventories of crude oil did not rise last week as expected. Energy stocks like Chevron Corp. and Exxon Mobil Corp. rose nearly 2 percent. The Dow Jones indus- trial average added 80.60 points, or 0.6 percent, to close at 12,560.18. The S&P index rose 11.70, or 0.9 percent, to 1,340.68. The Nasdaq composite gained 31.79, or 1.1 per- cent, to 2,815. Commodity prices halt- ed their slide after floods damaged wheat, corn and soybean fields, with traders anticipating a sup- ply shortage would lead to Second Annual Well-Being Faire Downtown Red Bluff Sat. May 21st 10am-4pm Practitioners at 623 Main Street Vendors Free admission ★★ ★ The World Famous Palomino Room 1/2 off Lunch or Dinner entrée with purchase of 1 entrée must present coupon *equal or lesser value Lunch: Tues-Fri 11am-2pm Dinner: Thurs-Sat 4pm-9pm 723 Main St., Red Bluff 527-5470 www.palominoroom.com 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 www.rollinghillscasino.com 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 $25! CALL NOW FOR RATES! 1/2 OFF ✪ WE WILL PAY UP TO ✪ Windshield Replacement on deductible *Some restrictions apply starting at$ ✪ FREE Estimates $500* 200 530.527.6160 915 Madison St., Red Bluff $ higher prices. Materials companies in the S&P 500 rose 2.1 percent, led by a nearly 5 percent gain in CF Industries Holdings. The company sells fertilizer. Stock indexes inched up slowly in morning trading as investors tried to make sense of mixed earnings reports. Reports from Dell Dell jumped nearly 6 percent after the computer maker reported late Tues- day that its income nearly tripled on lower costs and better profit margins. Strong sales of servers, storage devices and com- puters to businesses also contributed to its results. Another tech company, Analog Devices Inc., rose 6 percent after the chip- maker said its profit jumped 44 percent. Four stocks rose for every one that fell on the New York Stock Exchange. Consolidated volume came to 3.5 billion shares. Salon Bella Dona Full Service Salon 3 per foil or Nicole Richardson May Highlight Special $ 60 for full highlights Call for appt. 527-4843 (exp. May 31, 2011)