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10A Daily News – Friday, January 6, 2012 Dow average marks its first (tiny) loss of 2012 It took the whole day, but stocks came all the way back. Bruised once again by uncer- tainty about European debt, the U.S. stock market fell sharply Thursday at the open, then steadily gained ground for six hours. By the close, the Dow Jones industrial average had shaved its loss to less than three points. It was the first decline of the year for the Dow. The Standard & Poor's 500 index gained just under four points and managed to extend its January winning streak to three days. Investors looking for good news had the latest encouraging report on the U.S. job market. Weekly unemployment claims declined again, one day before a crucial report on the national jobs picture in December. The Dow recovered from a 134-point loss to end at 12,415.70. The Standard & Poor's 500 index closed at 1,281.06. The Nasdaq rose 21.5 points to 2,669.86. The market has had a strong start to the year. The Dow is up almost 200 points, or 1.6 percent. The S&P 500 is up 1.9 percent. And the technology-focused Nasdaq is already up 2.5 percent. Stocks spent the morning lower after Europe — which dominated so much of Wall Street's hectic 2011 — became a concern again. Trading in UniCredit, a large Italian bank, was halted after the stock lost a quarter of its value. The bank said Wednesday that it would need to offer huge dis- counts to investors to raise money. And a financial crisis deep- ened in Hungary, which had to pay a staggeringly high interest rate of 10 percent on its 12- month debt. That is far above the 7 percent level that forced Greece and Portugal to seek bailouts. Taken together, the news raised fears on Wall Street that Europe's debt crisis would spread from small countries such $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. as Greece and infect much larger ones such as Italy that are too big to be bailed out. ''The positives that are com- ing out of our economy are less significant than the fear that is coming out of Europe,'' Ralph Fogel, an investment strategist and partner at Fogel Neale Partners in New York. Stocks fell more than 2 per- cent in Italy, Greece and Spain. Markets in the bigger, more sta- ble economies of Britain and Germany fell slightly. The CAC- 40 in France fell 1.5 percent. The euro fell to just below said $1.28, down more than a penny from Wednesday, to its lowest since September 2010. The euro spent most of last year, even the most uncertain days of the Euro- pean debt crisis, above $1.30. In the U.S., Barnes & Noble plunged 17 percent after lower- ing its profit forecast and saying it might spin off its Nook e-read- er, which faces competition from the Amazon Kindle and the Apple iPad. Other retailers fell, too, after their December sales failed to impress Wall Street. Upscale stores did well, but others struggled. Macy's beat expectations for sales and rose 1 percent. But Target, J.C. Penney Co. and Gap were all among the worst performers in the S&P 500, each down more than 2.7 percent. The Labor Department report- ed another drop in the number of people filing for unemployment benefits, and ADP, which processes payroll data, said pri- vate employers added 325,000 jobs last month. The reports signaled further, though not dramatic, improve- ment in the job market. The gov- ernment reports Friday on how many jobs were created in December and on the unemploy- ment rate, which stands at 8.6 percent. HBO stops selling DVDs to Netflix LOS ANGELES (AP) — HBO fired a shot across Netflix's bow this week, confirming it will no longer sell discounted DVDs of hit shows like ''Boardwalk Empire'' to the subscription video service. The move by Time Warner Inc.'s pay TV channel is more antagonistic than damaging. Netflix Inc. can maintain its mail-order movie rental offerings by buying HBO discs from other sources —even retail stores. Ralph's Tax Service has moved to a new location at 855 Walnut St. Ste 2 Ralph welcomes aboard as an associate ~ Daniele Jackson se habla espanol See us for all of your Income Tax, Bookkeeping, Payroll and Financial Service needs. HBO's jab heightens the rivalry that has steadily grown between the companies. In December, Netflix CEO Reed Hastings told an investors conference that HBO's online viewing service, HBO GO, was ''the competitor we fear the most.'' Time Warner CEO Jeff Bewkes has belittled Netflix, telling The New York Times just over a year ago that it was like ''the Albanian army going to take over the world.'' The North State's premier supplier of stoves STOVE JUNCTION The Over 25 years of experience EPA approved stoves are EXEMPT from no burn days! Did you know... Tues-Sat 9am-5pm Closed Sunday & Monday 22825 Antelope Blvd., Red Bluff www.thestovejunction.com 530-528-2221 Fax 530-528-2229