Red Bluff Daily News

November 12, 2011

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8B Daily News – Saturday, November 12, 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 additional 10% off when you mention this ad To show our appreciation all Veterans receive Mon-Fri: 9am - 7pm Sat: 9am - 5pm Sun: Closed En Español 26 Sale Lane, Red Bluff (530) 529-2192 www.Claytonredbluff.com INVENTORY BLOW-OUT SALE! Factory Reps will be on-site! Food, Music, Drinks BOUNCE HOUSE FOR THE KIDS! Clayton Homes invites you to visit us on Saturday, Nov. 19, 2011 Come spend a few hours with us, see what we have to offer on this day! Flu season is coming..... Lassen Medical Group, Inc. 2011 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. Flu shot available during regular office hours Red Bluff Office 2450 Sister Mary Columba Drive Saturday November 19th 9am to 1pm To provide better service for our patients Our Urgent Care is now open on Sundays 8 am to 6 pm 2450 Sister Mary Columba Dr., Red Bluff www.lassenmedical.com The North State's premier supplier of stoves STOVE JUNCTION The Over 25 years of experience NOW OPEN! Sales • Service • Installation *Wood Stoves * Pellet Stoves * Gas Stoves Tues-Sat 9am-5pm Closed Sunday & Monday 22825 Antelope Blvd., Red Bluff www.thestovejunction.com 530-528-2221 Fax 530-528-2229 NEW YORK (AP) — Stocks surged Friday, erasing their losses for the week, after Italy and Greece moved closer to getting their financial crises under control. The Dow Jones industrial average jumped back above 12,000. Italy's benchmark stock index leapt 3.7 per- cent and its borrowing costs plunged after the country's Senate passed a crucial austerity budget demanded by the Euro- pean Union. Other Euro- pean stock markets and the euro also pushed high- er as investors became more confident that Italy would avoid a fiscal disas- ter. The passage clears the way for Italian Premier Silvio Berlusconi to step down. Berlusconi was widely considered an obstacle to serious eco- nomic reforms. The yield on Italy's benchmark two- year bond dropped 0.43 percentage point to 5.69 percent. That's a sign bond investors think Italy will succeed in managing its massive debt load. The Dow Jones indus- trial average jumped 259.89 points, or 2.2 per- cent, to 12,153.68. It Recliners from $ Mattress sets from $ 159 399 Stocks surge on European news Wall Street closed below 12,000 the previous two days. Fri- day's rally pushed the Dow up 1.4 percent for the week. Together with a 112- point gain the day before, the Dow has now made up most of the 389-point plunge it took on Wednes- day. That sell-off was trig- gered by a spike in Italy's borrowing costs and a breakdown in talks to name a new prime minis- ter in Greece. In Greece, too, there was good news for the markets Friday. Lucas Papademos, a former cen- tral banker, was sworn in as interim prime minister. Lucas Papademos took over a coalition govern- ment after a two-week political crisis that jeopar- dized the country's ability to continue receiving emergency loans. Plenty of uncertainty still hangs over financial markets. Brian Gendreau, senior investment strate- gist at Cetera Financial Group, noted that the VIX index is still above 30, a sign that traders expect stocks to stay volatile. Gendreau expects the S&P 500 to trade in a range of 1,200 to 1,275 until Europe's debt crisis gets closer to resolution and the U.S. Congress signs off on a larger debt- cutting plan. A supercom- mittee in Congress has until Nov. 23 to agree on a deficit-reduction package of at least $1.2 trillion over a decade. ''We still don't have a real resolution on either side of the Atlantic,'' Gendreau said. The S&P 500 rose 24.16, or 1.9 percent, to 1,263.85. Only 13 of the 500 stocks in the S&P fell. Technology and materials companies had the biggest gains. Walt Disney Co. jumped 6 percent. The company reported record annual profits and rev- enues after the market closed Thursday, thanks to stronger advertising sales at ESPN and the Disney Channel. The Nasdaq composite rose 53.60, or 2 percent, to 2,678.75. U.S. bond trading was closed for Veterans Day. Five stocks rose for every one that fell on the New York Stock Exchange. Volume was light at 3.3 billion shares.

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