Issue link: https://www.epageflip.net/i/57122
8A Daily News – Friday, March 2, 2012 NEW YORK (AP) — Banks dodged a big hit from the Greek debt cri- sis and rallied Thursday to lead the stock market higher. Strong retail sales and more encour- aging news about the U.S. job market also helped stocks rise. The banks of the world are on the hook for as much as $70 bil- lion in bond-insurance payments if Greece defaults on its debt. But a panel ruled that Greece's plan to restruc- ture its debt should not trigger any insurance payments, at least not yet. Bank stocks pushed higher in relief. Gold- man Sachs jumped 5.2 Banks lead stock rally; Nasdaq nears 3,000 Wall Street percent, and Morgan Stanley gained 3.5 per- cent. JPMorgan Chase and Bank of America were the top gainers in the Dow Jones industrial average. The Dow added 28 points to close at 12,980.30. That's a gain of 0.2 percent. In the latest sign of improvement in the job market, the number of people seeking unem- ployment benefits fell last week to the lowest point since March 2008. The four-week average was also the lowest in four years. Oil climbed $1.77 to $108.84 a barrel. The surging price of oil has weighed on investors' minds in recent weeks. Quincy Krosby, chief market strategist at Pru- dential Financial, said higher oil prices could eventually cause a sharp drop in the stock market. They could also give money managers an excuse to take some winnings off the table after the S&P 500 gained 9 percent over the past two months. ''We're going to have a pullback at some point, because money managers want to lock in their profits,'' she said. ''The catalyst could be these escalat- ing oil prices.'' The drop in unem- ployment claims helped pushed Treasury yields up. The yield on the benchmark 10-year Treasury rose to 2.03 percent from 1.99 per- cent late Wednesday. The S&P 500 index rose 8.41 points to 1,374.09, its highest closing level since June 5, 2008. The Nasdaq compos- ite index rose 22.08 points to 2,988.97. The Nasdaq briefly topped 3,000 for the first time in more than a decade Wednesday. The government also reported that consumers earned a little more in January and spent most of it. The Commerce Department said con- sumer spending increased 0.2 percent in January. Americans' income rose 0.3 percent, the second straight monthly increase. Costco Wholesale, Target Corp. and other retailers reported better than expected February sales, as more customers showed up to shop. In other news out Thursday, Ford, Honda and other automakers reported strong sales for February. Ford Motor Co. rose 2.3 percent after reporting a 14 per- cent sales gain. Among stocks mak- ing big moves: — Gap soared 7.2 percent, the most in the S&P 500 index. The clothing retailer said a key sales figure rose 4 percent in February, helped by strong demand for spring clothing at its Banana Republic chain. Ana- lysts had expected Gap's same-store sales to drop. — Kroger gained 2.7 percent. The grocery store chain said its adjusted earnings beat analysts' expectations and it also raised its full- year earnings forecast. — Sotheby's plunged 9.1 percent after the auc- tion house reported earnings and revenues that were well below what Wall Street ana- lysts were expecting. Tehama Country This Week Real Estate WESTERN REAL ESTATE MINCH PROPERTY MANAGEMENT 760 Main St. • 530-527-5514 Commercial Properties For Sale: • 455 S. Main St. SALE PENDING • 840 Main St. Major Price Reduction! • 1870 Montgomery • Flores Ave/I-5 ( • 13545 Saint Marys Ave. Major Price Reduction! 2.67 Acres 11,400 sq/ft 2 Acres SALE PENDING . . . . . . . . . . . . 24, 53 or 62 Acres 40,000 sq/ft Commercial Properties For Lease: • 22680 Antelope Blvd. • 22660 Antelope Blvd. • 460 Antelope Blvd. • 731-741 Main St. • 225 Walnut St. • 955 Main St. 5,600 sq/ft 18,000 sq/ft 1 to 3,000 sq/ft various size suites 2,000 sq/ft 2,995 sq/ft • Medical Suite available in St. E campus area ................................. 2,000 sq/ft • 218 Washington St. • 1156 Monroe St. ..... 1,350 sq/ft 6,580 sq/ft 2 car garage, 20 minutes from Red Bluff.$158,000 3/2 1500 sf in Lake California $136,000 OWC 7 acres in town $57,000 OWC Call (530) 921-4849 2/2 + Den, MFH $57,000 NORTH STATE PROPERTIES (530) 529-7622 YOUR NORTH STATE REAL ESTATE CONNECTION 616 Washington Street, Red Bluff, CA 96080 Short Sales / Foreclosures / HUD JEFF MOYER Cell: 530-366-2149 jeff@redbluffhomes.com JOSEPH DURRER Cell: 530-200-2831 joe@redbluffhomes.com CAROL MAY Cell: 530-514-8946 carolmay@redbluffhomes.com KIM KEELER Cell: 530-368-6775 kim@redbluffhomes.com ERNIE MARTINEZ Cell: 530-200-0339 ernie@redbluffhomes.com SHELLIE JOHNSON Cell: 530-526-3367 shellie@redbluffhomes.com www.homesbyshellie.com LUCI HAWES Cell: 530-200-2264 luci.hawes@yahoo.com JON SHOLZEN Cell: 530-200-4690 jon@redbluffhomes.com RED BLUFF - 4.9 ACRE PARCELS Rolling Hills With Oaks Power/Phone Available, Perk Done, Paved Roads Starting at $34,000 with $3K Down Owner Will Carry (530) 925-4075 FOR SALE BY OWNER SAT., MARCH 3rd Or by appointment • 11:30 am - 1:30 pm Rio Vista Mobile Estates #92 ON THE RIVER, 2/2 Doublewide 1300 sq ft $47,000 $39,500-obo. Financing available. Call 527-7297 Bankruptcy, Foreclosure, Short Sale Low Credit Scores 100% Financing Still Available YOU CAN STILL BUY A HOME Call Access Mortgage & Real Estate Buyers Agent: Tim Arrowsmith 530-200-2929 Tim Arrowsmith NMLS# 502254 MLS# 01220716 4/2, 2300 SF, custom built on 13 ⁄4 acre. Rent To Own!! $1,000 to $5,000 Down, O.W.C. OPEN HOUSE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 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