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10A Daily News – Friday, December 23, 2011 NEW YORK (AP) — Encouraging economic reports pushed stocks high- er Thursday. The Dow Jones industrial average rose 61 points, its third gain in a row. Stocks close higher on better job market news Wall Street starting to tick up.'' The number of people applying for unemployment benefits dropped last week to the lowest level since April 2008, the latest sign that the job market is heal- ing. It was the third week in a row that applications fell. The Conference Board also reported that its measure of future economic activity had a big increase last month. It was the second straight gain, signaling that the U.S. economy was pick- ing up speed and the risk of another recession was fad- ing. ''Today, Main Street is what matters because Main Street makes up 71 percent of the economy,'' said Quin- cy Krosby, chief market strategist for Prudential Securities. ''You can't argue with the fact that the cost of gas has come down, which puts more money in the pockets of consumers to spend, and so things are NORTH VALLEY Krosby noted that the latest data showed that shoppers were opening up their wallets to spend during the holidays. However, she said the economy needs to grow at a faster pace than 2 percent to be able to survive any shocks caused by the European debt crisis or a sharp slowdown in China's economy in 2012. The government lowered its estimate of U.S. econom- ic growth in the July-Sep- tember quarter to an annual rate of 1.8 percent from 2 percent. That was still the fastest growth this year, up MATTRESS 632 Main St., Red Bluff 527-5837 SPRING AIR MATTRESS SALE Your choice of firmness FIRM ★ PLUSH ★ PILLOWTOP FULL SETS $349 QUEEN SETS $399 KING SETS $599 from 1.3 percent in the April-June quarter. The Dow Jones industri- al average rose 61.91 points, or 0.51 percent, to close at 12,169.65. The Dow has risen 409 points over the past three days. Bank of America Corp. rose 4.6 per- cent to $5.47, the most among the 30 stocks in the Dow. The S&P 500 index gained 10.28 points, or 0.83 percent, to 1,254. The Nas- daq composite index rose 21.48, or 0.83 percent, to 2,599.45. Economists say that the improving job market, strong holiday shopping, and cheaper gas prices will leave consumers with more money to spend. That would get the economy growing at an annual rate of more than 3 percent in the final three months of this year, which would be the fastest pace since 3.8 per- cent growth in the spring of 2010. Banks, energy and tech- nology stocks were the biggest gainers, while con- sumer goods companies traded lower. Morgan Stan- ley led bank stocks, gaining 6.5 percent to close at $15.88, while among tech stocks Akamai Technolo- gies Inc. the biggest gainer, rising 18.6 percent to $31.63. In other corporate news: — Mead Johnson Nutri- tion Co. plummeted 10 per- cent on news that Wal-Mart Stores Inc. pulled a batch of its powdered infant formula from more than 3,000 of its stores nationwide. A new- born Missouri boy was fed a batch of the Enfamil New- Counseling Center Giving Families Hope! Did you think we were just for children? • Individual & Family Counseling • Couple/Relationship Issues • Anger • Depression • Anxiety • Emotional Trauma • Family Relationships • Parenting Call our office for more info. 529-9454 Red Bluff 590 Antelope Blvd. Suite B-30 Corning Counseling Center 275 Solano Street #2 born powder made by Mead and died from what prelim- inary tests indicate was a rare bacterial infection. So far, no link has been estab- lished between the death and the formula and the government has not ordered a recall of Enfamil. — Tibco Software Inc. jumped 8 percent after the business software maker reported a 20 percent increase in revenue and net income that was far ahead than what Wall Street ana- lysts were expecting. With just over a week of trading left in 2011, the S&P 500 is less than 1 per- cent below where it started the year. The Dow has man- aged to gain 5.1 percent in 2011, while the Nasdaq is still off 2 percent. Nearly three stocks gained for every one that fell on the New York Stock Exchange. Trading volume was very light at 3.5 billion. $1700 in Discount Coupons were published last week in the D NEWSAILY RED BLUFF TEHAMACOUNTY … And that does not Count all the ads offering percentage discounts, two-for-ones and Free-with-Purchase offers! Don't miss a Day of it! Subscribe Today 527-2151 It pays for itself. 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Major Price Reduction! 2.67 Acres 11,400 sq/ft 2 Acres SALE PENDING . . . . . . . . . . . . 24, 53 or 62 Acres 40,000 sq/ft 6,580 sq/ft Commercial Properties For Lease: • 22680 Antelope Blvd. 5,600 sq/ft • 460 Antelope Blvd. • 731-741 Main St. • 225 Walnut St. • 955 Main St. • 726 Pine Street 1 to 3,000 sq/ft various size suites 2,000 sq/ft 2,995 sq/ft 1,250 sq/ft . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 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