Issue link: https://www.epageflip.net/i/33771
10A Daily News – Friday, June 10, 2011 NEW YORK (AP) — A bit of good news was all it took to break a weeklong slump in the stock market. A report that U.S. exports hit a record in April sent stocks sharply higher Thursday as investors hoped the eco- nomic recovery may not be as sluggish as the last week of grim economic reports have suggested. Trade levels factor into calculations of eco- US stocks close higher for the first time in June Wall Street nomic growth. Thurs- day’s number could add half a percentage point or more to the government’s estimate of second-quar- ter gross domestic prod- uct, said Anthony Chan, chief economist for JPMorgan Private Wealth. The Dow Jones indus- trial average rose 75.42 points, or 0.6 percent, to close at 12,124.36. The Standard & Poor’s 500 index rose 9.44, or 0.7 percent, to 1,289.00. The Nasdaq composite rose 9.49, or 0.4 percent, to 2,684.87. Thursday’s gains broke a six-day losing streak and marked the first time stocks rose in June. Stocks had dropped following poor reports on manufacturing, home sales, hiring and con- sumer confidence. It was the longest los- ing streak for the Dow Jones industrial average in over a year and the longest for the Standard & Poor’s 500 index since February 2009. The market’s week- long slump also made stocks appear relatively cheap, Chan said. The S&P 500 lost 6.2 percent over the previous six days of trading. ‘‘Markets usually swing like a pendulum,’’ St. Elizabeth Community Hospital and the D NEWSAILY RED BLUFF TEHAMACOUNTY proudly announce the 2011 Tehama County Medical Guide A reference guide to North State medical professionals and related medical services available to Tehama County residents. •• 7,000 in full-run distribution of The Daily News • 3,000 additional distribution throughout 2011: Red Bluff Chamber of Commerce office/Visitor Center Hotels at Rolling Hills Casino and Red Bluff area Advertisers receive copies for countertop distribution • Online version of this special publication is posted on RedBluffDailyNews.com, all year long, 24 hours a day, 7 days a week! This highly viewed online edition reached over 15,000 unique visitors during 2010…don’t miss the opportunity to reach this online audience for 2011! • Digital technology allows viewers to “turn pages” and even click from your ad to your website! Red Bluff and Tehama County Chambers, Tehama County and City of Red Bluff post this special edition on their websites. Advertising and Copy Deadline: FRIDAY, JUNE 10, 2011 INSERTS: THURSDAY, JUNE 30, 2011 1/8 Pg.................$199.00 1/4 Pg.................$325.00 Half Pg...............$485.00 Full Pg................$765.00 Advertising Rates (cost includes same-size adjacent space for promotional copy, provided by advertiser) Inside Front...................$1150.00 Inside Back....................$1015.00 Back Cover....................$1275.00 Center Double Truck.....$2175.00 For space reservations, contact your Daily News Display Advertising Representative at (530) 527-2151 Chan said. ‘‘This decline has been strong enough that you can easily justify the market taking a breath.’’ The narrower trade deficit is a sign that goods from U.S. manu- facturers are becoming more competitive in overseas markets. U.S. companies sold more computers, heavy machinery and telecom- munications equipment abroad in April compared with the month before. Imports declined because fewer cars were bought from Japan after factories there were damaged by that country’s earthquake and tsunami disaster. Companies that make farming machinery rose after the government reported that U.S. corn crops would be smaller this fall. That sent corn prices soaring and raised expectations that farm owners would be buying more agricultural equip- ment such as tractors. Both Deere & Co. and AGCO Corp rose 2.5 per- cent. A report on claims for unemployment benefits was in line with expecta- tions that new applica- tions would stay roughly the same. The Labor Department reported that new claims edged up 1,000 to 427,000. Econo- mists had expected a slight drop. The high level of claims still sug- gests that the job market is slow. Advertising company Interpublic Group of Cos. jumped 6.4 percent, the most of any company in the S&P 500 index, after ratings agency Moody’s raised its rating on the company. A jump in oil prices sent energy stocks high- er. Energy companies in the S&P 500 index rose 1.2 percent. Crude rose $1.19 to settle at $101.93. Stocks have been slip- ping since mid-April as investors become con- cerned that the U.S. economy has hit a soft patch. Rising oil prices, Japan’s tsunami and nuclear disaster and the risk that Greece might default on its debt have led investors to lower their forecasts for U.S. growth this year. Nearly two stocks rose for every one that fell on the New York Stock Exchange. Consolidated trading volume was 3.5 billion shares. RANDAL S. ELLOWAY DDS IMPLANTS DENTISTRY 2426 SO. 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