Red Bluff Daily News

September 29, 2011

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8B Daily News – Thursday, September 29, 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 SALE NEW YORK (AP) — A three-day winning streak in the stock market came to an end Wednes- day as investors worried about Europe's ability to contain its debt crisis. The Dow Jones industrial aver- age fell 180 points. Raw materials companies had the biggest declines after prices for commodities like copper and oil fell sharply. Traders focused on remarks from German Chancellor Angela Merkel suggesting that the second bailout package for Greece might have to be renegoti- ated. Several European leaders want banks to take bigger losses on Greek bonds. France and the European Central Bank oppose the idea. Germany's parliament is set to vote Thursday on a measure that would give a European rescue fund more powers to fight the region's debt crisis. Fin- land's parliament approved the proposal Wednesday, lifting some uncertainty over the debt crisis issue which has been dogging financial markets since late July. ''This is a market that has been fluctuating and is thoroughly susceptible to any news, any rumors, any 6:30am-2pm 7 days a week Served Harris Ranch Steak $ 599 No substitutions ORDERS TO GO 7875 HWY 99E LOS MOLINOS, CA 384-1265 innuendos,'' about Europe, said Quincy Krosby, mar- ket strategist at Prudential Financial. The Dow Jones indus- trial average fell 179.79 points, or 1.6 percent, to close at 11,010.90. It had gained 413 points over the past two days. The Standard & Poor's 500 index fell 24.32, or 2.1 percent, to 1,151.06. The Nasdaq composite index fell 55.25, or 2.2 percent, to 2,491.58 The declines were Served with 2 eggs, hash browns or home fries & toast broad. Five stocks fell for one that rose on the New York Stock Exchange. Only 13 of the stocks in the S&P 500 rose. Four were flat. Raw materials stocks fell the most of any indus- try group in the S&P 500, 4.5 percent. Investors fear that Europe's problems could cause the global economy to slip into another recession, weak- ening demand for basic materials such as copper. The price of copper plunged 5.6 percent; crude oil fell 3.8 percent to $81.21 barrel. Flu season is coming..... Lassen Medical Group, Inc. 2011-2012 Flu Vaccine Clinics (530) 527-0414 All adults and children over 2 years of age welcome Pneumonia shots available (for those who meet the requirements) Medical Insurance will be billed. 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Technology companies Miner Freeport- McMoRan Copper & Gold Inc. fell 7.2 percent, and Cliffs Natural Resources Inc. fell 8.4 per- cent. Coal producer Alpha Natural Resources fell 11 percent, the most of any company in the S&P. Trading varied widely throughout the day. The Dow jumped 126 points minutes after the opening bell on a government report that orders for man- ufactured goods fell just 0.1 percent in August, a smaller decline than econ- omists predicted. Those gains were gone within an hour, leaving the Dow, S&P 500 and Nas- daq mixed through the rest of the morning. Stocks started to fall in the after- noon, and the selling intensified in the last half- hour of trading. The decline followed three days of gains. Stocks — Sony Corp.'s movie studio has started a spat with theater owners, telling them in a recent letter that it will stop pay- ing for disposable 3-D glasses in U.S. theaters next May. The decision could save it millions of dollars per movie, but consumers might have to pick up the tab. Sony Pictures said in its letter that theaters could adopt a ''guest fared better than the over- all market. Amazon.com shot up 2.5 percent after the online retailer unveiled a new tablet device called the Kindle Fire. It will cost $199 and will rival Apple Inc.'s hugely successful iPad. Jabil Circuit Inc. rose 8.4 percent, the most of any company in the S&P 500. The electronic parts maker reported strong earnings and a fourth- quarter earnings forecast that was better than ana- lysts had anticipated. Theaters group upset Sony to end 3-D glasses LOS ANGELES (AP) ownership model'' prevalent in Europe and Australia that charges patrons separately for the glasses, which they can re-use on future vis- its. Counseling Center Giving Families Hope! 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