Issue link: https://www.epageflip.net/i/34477
Tuesday, June 21, 2011 – Daily News 5A Investors largely put aside their concerns about the Greek finan- cial crisis Monday and focused instead on value. Stocks rose broadly after the market shook off its longest weekly losing streak in nearly a decade. The downturn brought the S&P 500 close to its average level over the prior 200 days. So long as the index doesn’t sink far below that level, many techni- cal traders see it as a sign to start buying stocks again. The S&P is now 6 percent below the 2011 high it reached on April 29. ‘‘In the short term, stocks have been over- sold, and you’re going to get some sort of bounce, whether justi- fied or not, just for tech- nical reasons,’’ said Paul Simon, chief investment officer for Tactical Allocation Group, which has $1.5 billion in assets under advisement. The S&P 500 index rose 6.86 points, 0.5 percent, to close at 1,278.36. The Dow Jones industrial average added 76.02 points, or 0.6 percent, to 12,080.38. The Nasdaq Stocks post third straight day of gains Monday Wall Street NEW YORK (AP) — composite gained 13.18, or 0.5 percent, to 2,629.66. Health care compa- nies like Aetna Inc. and Humana Inc. rose 1 per- cent, the largest gain among the 10 industry groups that make up the S&P 500 index. Finan- cial companies like Morgan Stanley, which lost 1.9 percent, were the only group to lose ground. The S&P 500 notched its third straight day of gains, the longest stretch of increases in the stock market for nearly a month. The index eked out a tiny gain last week, breaking a six-week losing streak driven by concerns that U.S. economic growth would falter in the sec- ond half of the year and that Greece’s debt crisis would spread. It was the S&P’s longest slide since 2002. Signs that the Euro- pean financial crisis may be contained helped ease investors’ concerns. European Union officials in Lux- emburg said Monday that the EU would take steps to prevent Greece’s debt problems Welcome Home U.S. Army Sgt. Jason Williams for receiving your certificate of recognition from Tehama County THE GOLD EXCHANGE“Your Quality Hometown Jeweler” 413 Walnut Street, Red Bluff • 530 528-8000 Complete Dental Care • Cosmetic Dentistry • Adults And Children • New Patients Warmly Welcomed! www.MooreandPascarella.com 8049 Hwy 99E, Los Molinos, CA We Accept EBT “Your Family Supermarket” We appreciate your business - and we show it! HOURS: 7AM - 9 PM DAILY BLACK CANYON ANGUS BEEF WE FEATURE SPECIALLY CUT MEATS AT NO EXTRA CHARGE Chicken Breast Boneless Tenders $199 lb. BBQ MEAT PACK 5 lbs Rib Steaks 5 lbs. London Broil 5 lbs. Tri Tip 5 lbs Bone-in Chicken Breast 5 lbs. Ground Chuck 5 lbs. Pork Country Style Ribs Produce Specials Fresh California Strawberries 1 lb. 2 for 300 $ Hansen’s Apple Juice 64 oz. 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Prime Minister George Papandreou’s newly-reshuffled gov- ernment is expected to prevail in the vote, and officials say they expect Greece to get its next installment of emer- gency loans in July. If Greece were to default, it could trigger losses for the banks that hold Greek bonds and more turmoil in financial mar- kets. Some analysts say investors are ready to move beyond the Greek crisis and focus on cor- porate earnings and the U.S. economy. ‘‘There’s a little fatigue about hearing about the same prob- lems, and there’s no shock factor anymore,’’ said Oliver Pursche, president of Gary Gold- berg Financial Services. Traders are now starting to look ahead to the Federal Reserve’s two- day policy meeting, which begins Tuesday, and the next round of corporate earnings reports that begin in July, he said. Analysts expect that 1010 Jefferson St., Red Bluff 527-7800 operating earnings per share for companies in the S&P 500 index rose 14 percent in the second quarter. They also expect the Fed to keep interest rates at nearly zero, a record low. Among U.S. compa- nies, PNC Financial Services Group Inc. fell 2 percent after saying it would buy the U.S. retail operations of Royal Bank of Canada for $3.45 billion. The deal will make PNC the fifth biggest U.S. bank with 2,870 branches. Whole Foods Market Inc. gained 2.2 percent after a BMO Capital Markets analyst upgrad- ed the stock following a recent sell-off. And Wal-Mart stores Inc. rose 0.4 percent after the Supreme Court blocked a sex discrimi- nation lawsuit brought against the retailer by a large group of female employees. Two stocks rose for every one that fell on the New York Stock Exchange. Consolidated volume came to 3.1 bil- lion shares. C & C PROPERTIES 741 Main Street, Suite #2 Red Bluff, CA 96080 1-800-287-2187 (530) 527-2187 An Independently owned and operated Member of Coldwell Banker Residential Affiliates. 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