Issue link: https://www.epageflip.net/i/37418
8B Daily News – Tuesday, July 26, 2011 TEHAMA ESTATES PROVIDES: Active Senior Citizens A Retirement Community for the ◆ Independent Living ◆ Private Apartments ◆ Three Nutritious Meals Daily ◆ 24 Hour Secure Environment ◆ House Keeping Services ◆ Warm & Friendly Staff ◆ Recreational Programs ◆ Scheduled Transportation ◆ Private & Formal Dining Rooms EQUAL HOUSING OPPORTUNITY 750 David Avenue, Red Bluff • 527-9193 NEW YORK (AP) — The debt showdown in Washington is rattling the stock market again. Impasse over US debt limit sends stocks lower Wall Street measure?" The Dow Jones industri- Financing & Delivery Available MON.-THURS. 9:00-6:00 • FRI. 9:00-7:00 • SAT. 9:00-5:00 • SUN. 11:00-5:00 NORTH VALLEY Furniture Depot Mattress Sets & Adjustable Bed • FREE PILLOWS • FREE DELIVERY • FREE DISPOSAL With purchase of Tempurpedic mattress only. 527-1657 235 So. Main St. Red Bluff MATTRESS 527-5837 632 Main St. Red Bluff MON.-FRI. 9:00-5:30 • SAT. 9:00 -5:00 • CLOSED SUNDAYS 780 EAST AVE. (behind Food Maxx) Since 1950 530-527-2649 WE ACCEPT ALL INSURANCE COMPANIES Voted BEST in Tehama County ‘06, ‘07, ‘08, ‘09 & ‘10 We understand you have a choice, thank you for choosing us! For Your Service Thank You 40% OFF All Jewelry For Active Military Families Expires July 31, 2011 Monday - Friday 10-5:30 • Saturday 11-4 413 Walnut Street, Red Bluff • 530 528-8000 THE GOLD EXCHANGE Herb Shop Education Calendar August, 2011 Cardiac Support Group 7:00pm-9:00pm 8/8, 2nd Monday Columba • 527-5077 Childbirth Class (7/7 - 8/11) 6:30pm-8:30pm Thursday, 8/4 Warde/McAuley • 529-8026 Community BLS/CPR 6:00pm-10:00pm 2nd Tuesday, 8/9 Columba • 529-8026 Diabetes Support Group 6:30pm-8:00pm Monday, 8/1 Columba • 527-5290 www.rollinghillscasino.com St. Elizabeth Community Hospital A member of CHW www.redbluff.mercy.org/sports redbluff.mercy.org Grief Support Group 3:00pm-5:00pm Thursdays, 8/25 Coyne Center 528-4207 Waterbirth Class 5:00pm-9:00pm Wednesday, 8/10 Columba • 529-8026 Weekend Childbirth 5:00pm-10:00pm 7:30am-3:30pm Friday, 8/19 Saturday, 8/20 Columba • 529-8026 • VITAMINS • MINERALS • HERBS Compass Scanning by appointment Open: Tuesday-Friday 10:30 a.m.-5:30 p.m. Suite #E, Red Bluff, CA 96080 (530) 528-2930 333 So. Main St. 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 1010 Jefferson St., Red Bluff 527-7800 Complete Dental Care • Cosmetic Dentistry • Adults And Children • New Patients Warmly Welcomed! www.MooreandPascarella.com • AUTO • HOME • HEALTH • LIFE • COMMERCIAL • FOREMOST RENTERS • BOATS • MOTORCYCLES• BONDS (530) 529-2369 805 Walnut St. Red Bluff • CA Lic.#0C05427 Stocks fell Monday after Republican and Democratic leaders offered competing proposals to avoid a cata- strophic default on the U.S. government's debt. Law- makers hoped to reach a compromise on raising the country's borrowing limit late Sunday, but those talks stalled. President Barack Obama wants to raise rev- enues by letting tax cuts for wealthy Americans expire. Republicans have pushed for more spending cuts and have rejected higher taxes. If an agreement is not reached by Aug. 2, the U.S. won't have enough cash to pay all its bills. That could have a huge impact on finan- cial markets. The U.S. would likely lose its coveted triple-A credit rating. Inter- est rates would rise for mil- lions of consumers. And stocks could fall the way they did during the 2008 financial crisis, analysts say. Most traders expect the White House and Capitol Hill to come up with a last- minute deal. Yet there are still uncertainties about higher taxes or changes to government spending that could affect corporate prof- its. Investors also worry that the government may only come up with a short-term fix that could still trigger a credit rating downgrade. "We're thinking this is going to be resolved," said Rob Lutts, president and chief investment officer of Cabot Money Management. "The question: Is it resolved from a standpoint of a long- term solution or a stop-gap gibbsautobodydsl@chiconet.com al average fell 88.36 points, or 0.7 percent, to close at 12,592.80. The Dow had been down as many as 145 points earlier. The Standard & Poor's 500 index fell 7.59, or 0.6 percent, to 1,337.43. The Nasdaq composite index fell 16.03, or 0.6 per- cent, to 2,842.80. Stock trading has varied widely in July because of concerns over debt prob- lems in the U.S. and Europe. Prior to Monday, the Dow had alternated between gains and losses over the previous nine days. The VIX, a measure of volatility in U.S. stock prices, has risen 16 percent in July. Many investors are reluc- tant to buy stocks because of concerns over the budget impasse in Washington. Trading volume, or the number of shares bought and sold on a given day, has fallen 22 percent in July on the New York Stock Exchange compared with the same month a year ago, according to FactSet. If that continues, July will have the lowest average daily volume since December 2007. Some investors have turned to gold and other pre- cious metals as a place to park money while the U.S. and European debt prob- Linda M. Fourby, LUTCF Your Red Bluff Agent lems get sorted out. Gold rose $10.70 to $1,612.20 an ounce Monday, while silver rose 24 cents to $40.36 an ounce. Gold has risen 14 percent this year, while sil- ver is up 31 percent. Even as debt troubles continue in the U.S. and Europe, U.S. com- panies have been reporting higher profits. David Kelly, chief market strategist at J.P. Morgan Funds, wrote in a note to clients that the per- share earnings of companies in the S&P 500 index are expected to rise to a record in the second quarter. If that happens, it would surpass the previous record set in the second quarter of 2007. "Corporate America has done very well," said Randy Bateman, chief investment officer at Huntington Asset Advisors. "People are look- ing at these earnings as good indications that there's value in stocks." Apple Inc. briefly rose to $400 Monday, about a week after the company reported record earnings and revenue on the popularity of its iPhone and iPad. It closed up about 1 percent at $398.50. After the market closed, Netflix Inc.'s stock fell 8 percent as the DVD rental company issued a third-quarter revenue fore- cast that was below analysts' estimates. Netflix is bracing for its subscriber growth to slow after it raised prices by as much as 60 percent earli- er this month. E-Trade Financial Corp. rose 6 per- cent, the most of any com- pany in the S&P 500, after The Wall Street Journal reported that larger rival TD Ameritrade is considering a bid for the company. THE Locally owned & operated Keep the WARM air out & the 5A>6 air in ENERGY EFFICIENT WINDOWS with Chris’