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8B Daily News – Saturday, June 25, 2011 Furniture DEPOT 235 S Main St., Red Bluff 530 527-1657 www.thefurnituredepot.net HOURS: MONDAY-FRIDAY 9:00-6:00 SATURDAY 9:00-5:00 • SUNDAY 11:00-5:00 Clearance If weak financial results from big tech companies are a sign of what’s to come, stock indexes are in for a tough summer. Stocks fell Friday, giv- ing the market another los- ing week, after poor earn- ings reports from two major technology compa- nies suggested that compa- nies invested less in new technology as the econom- ic recovery slowed. Moody’s warned that it might downgrade their credit ratings. ‘‘I think it spooked a lot of people,’’ said Frederick Rizzo, who analyzes Euro- pean banks for T. Rowe Price. ‘‘The markets are really emotional right now.’’ Fears of a spreading European debt crisis also weighed on markets. Ital- ian bank stocks plunged and trading in some of them was halted after K W I K K U T S Family Hair Salon $200 REGULAR HAIRCUT off with coupon Not good with other offers 1064 South Main St., Red Bluff • 529-3540 Reg. $13.95 Expires 7/31/11 The Dow Jones indus- trial average fell 115.42 points, or 1 percent, to 11,934.58. The Standard & Poor’s 500 index fell 15.05, or 1.2 percent, to 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 Fireworks From the Chamber! Go to Buy your Family www.tntfireworks.com To get your discount coupon! Chamber fireworks locations: Belle Mill/FoodMaxx Shopping Center, Antelope & I-5 June 28th - July 4th • 10am to 8pm 100% of profits from this location go to pay for the giant FIREWORKS DISPLAY At the TC Fairgrounds on July 4! Red Bluff – Tehama County Chamber of Commerce Working to make Tehama County an even Better Place to Live, Work and Play! sponsorship agreement with the D NEWSAILY Published through a co- RED BLUFF TEHAMACOUNTY Published through a project co- sponsorship agreement with D NEWSAILY RED BLUFF TEHAMACOUNTY Garden Center Red Bluff 766 Antelope Blvd. (Next to the Fairground) 527-0886 1,268.45. The Nasdaq composite fell 33.86, or 1.3 percent, to 2,652.89. The decline erased all of this week’s gains for the Dow Jones industrial aver- age and S&P index. The broad stock market has now fallen for seven of the last eight weeks, largely because of concerns that the U.S. economy is slow- ing and that Europe’s debt problems may lead to another financial crisis. The S&P 500 is down 7 percent since it hit a high for the year on April 29. Technology stocks were broadly lower. Micron Technology Inc. fell 14.5 percent after the company said lower sales of computer chips hurt its earnings, which were far less than analysts had expected. Oracle Corp. fell 4 percent after its sales of computer hardware fell sharply. Cisco Systems Inc. fell 3.5 percent, and Microsoft Corp. lost 1.3 percent. Government bond prices rose to their highest level of the year as investors favored lower- risk assets. The yield on the 10-year Treasury dipped to 2.86 percent. up to Savings 60% off Hurry in for best selection! retail on select items Throughout the Store Stocks end another week lower on Europe worries Wall Street man, president of Plat- inum Partners, a hedge fund. Landesman expects that the Standard & Poor’s 500 index will fall to 1,200 this summer as more com- panies report second-quar- ter earnings next month. The last time the S&P 500 crossed that threshold was in December 2010. Stocks fell despite the FREE Sonar/Fish Finder Seminar Learn how to maximize the benefit of your unit. Intermediate Level Course Thursday, June 30th 5:30 PM Lots of Free Giveaways Call for info. (530) 529-3877 501 MADISON ST., RED BLUFF Located inside Reynolds Ranch & Farm Supply The U.S. economy has cooled since late April. Recent reports on housing, employment, manufactur- ing and retail sales all have been weak. The debt crisis in Greece and fears that China’s growth is slowing have also pushed markets lower. ‘‘No one is expecting good news, but if it’s worse than expectations, this is really a very shaky market,’’ said Uri Landes- fact that the government said the economy grew at a 1.9 percent annual rate in the first quarter, slightly higher than an earlier esti- mate of 1.8 percent. The figure still indicated very slow growth for a post- recession recovery. Econo- mists expect little improvement in the sec- ond quarter, which ends next week. Still, another govern- ment report showed that businesses ordered more machinery, equipment and airplanes in May than in April. Orders of such durable goods increased by 1.9 percent in May after a sharp decline in April. Two stocks fell for every one that rose on the New York Stock Exchange. Volume was slightly above average at 4.4 billion shares. Fruit & Herb Drying Class Saturday, July 2 @ 10am Please call to reserve a seat Thank you