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8B Daily News –Wednesday, December 28, 2011 Stocks barely changed in light holiday trading NEW YORK (AP) — Stocks ended barely changed in light trading Tuesday amid mixed economic news. Consumer con- fidence surged to an eight- month high, but home prices dropped in major cities. Sears plummeted after reporting that it would close more than 100 stores around the country. The Dow Jones industrial average closed down just 2 points after staying in a narrow range all day. The S&P 500 index and Nasdaq eked out small gains. In the latest sign of a bumpy recovery in the housing market, home prices fell in 19 of the 20 cities tracked by the Standard & Poor's/Case-Shiller index. Atlanta, Detroit and Minneapo- lis posted the biggest declines. Prices in Atlanta and Las Vegas fell to their lowest points since the housing crisis began. That report dampened investors' enthusiasm about a jump in consumer confidence to the highest level since April. The New York-based Confer- ence Board reported that its Consumer Confidence Index rose almost 10 points to 64.5 in December. Economists watch the numbers closely because consumer spending accounts for about 70 percent of U.S. economic activity. Henry Herrmann, chief exec- utive officer at the investment management firm Waddell & Reed, said the increase reflected the fact that more jobs have been created in recent weeks, which will likely lead to ''a more sustained'' economic recovery. ''If job creation will come with wage improvement in the coming weeks, it will boost data in the U.S. has boosted the stock market in recent days. However analysts expect any gains to be tempered by wor- ries over the European debt cri- sis. Italy's borrowing costs rose Tuesday, reflecting a continued high level of investor anxiety. The yield on the country's ten- year bonds hit 7 percent again, which is considered unsustain- able in the long run. Greece, Ireland and Portugal had to seek relief from their lenders after their own borrowing costs rose that high. Italy is the euro zone's third- largest economy and is consid- ered too big to get bailed out by its neighbors. Mario Monti, the country's new premier, got par- liamentary approval last week for a big austerity package that is intended to save the country from financial disaster. Markets have grown increas- ingly fearful over the past few months that Italy will find it dif- ficult to pay off its massive debts, which stand at around $2.5 trillion. In other corporate news: — Computer Sciences Corp. fell 9 percent after warning that it will write down the value of an investment by about $1.5 bil- lion. confidence further,'' Herrmann said. The Dow Jones lost 2.65 points, or 0.02 percent, to close at 12,291.35. The S&P 500 was up 0.10 points, or 0.01 percent, to 1,265.43. The Nasdaq com- posite rose 6.56, or 0.3 percent, to 2,625.20. The most the Dow rose dur- ing the day was 34 points, and the most it fell was 24. It was the narrowest trading range in 5 C & C PROPERTIES 741 Main Street, Suite #2 Red Bluff, CA 96080 1-800-287-2187 (530) 527-2187 An Independently owned and operated Member of Coldwell Banker Residential Affiliates. FOR 24/7 PROPERTY INFO CALL 1-888-902-7253 AND ENTER THE PROPERTY CODE FROM THE AD. FORECLOSURES AND HOMES UNDER $200,000 2 BD 2 BA 1344 SQ.FT. $32,995 2 BD 2 BA 952 SQ.FT. 4 BD 2 BA $69,900 $72,000 2 BD 2 BA 1680 SQ.FT. $79,500 1 BD 1 BA 912 SQ.FT. 3 BD 2 BA 1370SQ.FT. $82,000 Prop Code 24469 Prop Code 4059 Prop Code 4079 Prop Code 4929 Prop Code 4129 $104,000 Prop Code 4209 3 BD 2 BA 1152 SQ.FT. $110,000 Prop Code 4169 2 BD 2 BA 1248 SQ. FT. $115,000 Prop Code 4949 3 BD 2 BA 1512 SQ.FT. $115,000 Prop Code 4289 3 BD 2 BA 1450 SQ.FT. $119,000 Prop Code 4109 4 BD 3 BA months. Stocks are expected to trade within a narrow range all this week as trading remains light between the Christmas holiday and New Year's. The volume of shares traded on the New York Stock Exchange Tuesday was 2 billion, less than half the average daily volume this month. Sears Holding Corp. plunged 27 percent to $33.38, the most in the S&P 500. The retailer warned it would close between 100 and 120 Sears and Kmart stores following poor sales dur- ing the holidays, the most cru- cial time of year for retailers. The Sears news also dragged Whirlpool Corp. down 9 per- cent to $46.62. Investors wor- ried the store closings would hurt sales of Whirlpool and Maytag washers and dryers the company makes. A run of strong economic — U.S. oil and gas explorer Endeavour International Corp. rose 24 percent after the com- pany announced an agreement to buy ConocoPhillips' interest in three U.K. oil fields in the Central North Sea for $330 mil- lion. — International Game Tech- nology shares gained 5 percent following news that some states might be closer to permitting online gambling. New York Times selling regional papers for $143M NEW YORK (AP) — The New York Times Co. said Tuesday that it will sell its Regional Media Group to Hal- ifax Media Holdings LLC for $143 million. Counseling Center Giving Families Hope! Did you think we were just for children? • Individual & Family Counseling • Couple/Relationship Issues 3 BD 2 BA 1566 SQ.FT. $134,900 Prop Code 4729 3 BD 2 BA 1152 SQ.FT. 3 BD 2 BA 1152 SQ.FT. 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The Times Co., like many newspaper publishers, has struggled in recent years as advertisers shift from newspa- pers to cheaper alternatives on the Internet. The company had said on Dec. 19 that it was in advanced talks to sell the business to Halifax. That announcement came four days after the company said CEO Janet Robinson will step down at the end of the year. The Daily News office will close at noon Friday, Dec. 30 & closed New Years Holiday, Monday, Jan. 2 Advertising deadline for these editions & the Tuesdays following is 10am the previous Thursday. D NEWSAILY RED BLUFF TEHAMACOUNTY 527-2151 • FAX 527-3719 545 DIAMOND AVE., RED BLUFF