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8B Daily News – Tuesday, September 13, 2011 NEW YORK (AP) — A late afternoon rally pushed the stock market higher for only the second day this month. Major indexes spent most of Monday lower as investors worried that Greece could be edging closer to default. The yield on the 10-year Treasury note reached another record low as investors piled into U.S. government debt on fears that Europe's debt crisis could spread. The euro fell Late rally pushes stocks higher; 2nd gain in September Wall Street to a seven-month low against the dollar. The Dow Jones industri- al average rose 68.99 points, or 0.6 percent, to close at 11,061.12. All of the gains came in the last 10 minutes of trading. The Dow had been down as many as 167 points shortly after 2 p.m. Traders said a combination of technical factors and reports that China was buy- ing Italian government bonds triggered the late spurt of buying. ''Over the last several days, stocks have been pushed down so hard it was as if somebody was trying to push a balloon underwa- ter,'' said Sam Stovall, chief investment strategist at Standard & Poor's Equity Research. ''It's bound to pop up even if only for a short period of time.'' The S&P 500 index rose 8.04, or 0.7 percent, to 1,162.27. It had dropped as many as 18 points. Technol- ogy stocks fared better than the overall market following news of a semiconductor deal. The tech-heavy Nas- daq composite index rose 27.10 points, or 1.1 percent, to 2,495.09. J.J. Kirnahan, chief options strategist at T.D. Ameritrade, said reports that China planned to buy a significant amount of Italian bonds contributed to the sudden reversal. ''The last 16 minutes was insane,'' he said. Respecting People. Impacting Business Call us. And get back to work. Call us any time for: • An extensive network of recruiting sources • Testing and training • Experienced recruiters • Full-time employees • HR expertise and support services • Temporary Workers • Evaluation hire • Carefully screened candidates • Dedicated service Kirnahan said investors should not take the day's gains as a sign of a longer- lasting trend. ''If tomorrow we get any indications that China really isn't going to get involved, then we should expect a quick sell- off.'' Worries over Europe's debt crisis drove traders into Treasurys, pushing the yield on the 10-year Treasury note to 1.87 percent, the lowest since the Federal Reserve Bank of St. Louis began keeping daily records in 1962. During the finan- cial crisis in late 2008, the 10-year yield hit a low of 2.05 percent. Investors fear that Greece could default on its debt, leading to more dis- ruptions in global financial markets. They're also con- cerned that rating agencies may cut the credit ratings of French banks because of their holdings of Greek bonds. That would mark the spread of Europe's debt troubles from peripheral countries like Greece and Ireland to the heart of Europe's financial system. Saturday, October 22, 2011 "Holiday Fantasy" Floral Design Program & Luncheon Red Bluff Garden Club Presents Carlino's, Rolling Hills Casino Featuring Kate Gliem House of Design Designs for the Holiday Season Vendors – Silent Auction Raffle – Live Auction www.expresspros.com 530-527-0727 243 So. Main Street Kathy, 527-9403 – Diane, 824-5661 House of Design, 527-8844 California Kitchen, 529-2482 Reserved Tickets $25.00 Purchase by October 12, 2011 Tickets: & Concert Series Wednesday Evenings from 5-8 pm • Sept. 14th In The Reign Original R & B Music takes place from 6-8pm On Washington & Pine Streets • FOOD • CRAFTS • NEW VENDORS WEEKLY • FRESH LOCAL PRODUCE Sponsored By: RED BLUFF D NEWSAILY TEHAMACOUNTY T H E V O I C E O F T E H A M A C O U N T Y S I N C E 1 8 8 5 Sponsored by Red Bluff/Tehama County Chamber of Commerce Red Bluff City River Park every Sat. 7am-11am