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8B Daily News – Wednesday, March 14, 2012 NEW YORK (AP) — Bank stocks turbocharged a rally across the financial markets Tuesday, and all three major stock indexes posted their biggest gains of the year. The Dow Jones industrial average rose 218 points and closed at its highest level since the last day of 2007. Stocks record biggest gains of year; Dow up 218 Wall Street The Nasdaq composite closed above 3,000 for the first time since December 2000, when dot-com stocks were collapsing. There was already plen- ty of good news driving the market higher Tuesday: Retail sales in February increased the most since September, and the Federal Reserve said it expected the unemployment rate to keep falling. Then the market soared in the final hour after JPMorgan Chase, the country's largest bank by assets, announced that it plans to buy back as much as $15 billion of its stock and raise its quarterly divi- dend by a nickel to 30 cents per share. JPMorgan said it was acting with the blessing of the Federal Reserve, which was preparing to announce the results of a review to make sure banks have enough cash to withstand a financial crisis worse than what happened in 2008. ''That's what really JUST MOVE IT Part of a national campaign to promote physical activity for American Indians and Alaskan Natives FRIDAY, MARCH 16TH 11:30 AM Registration and Start Psycho Fitness & MMA 1450 Schwab St., Red Bluff SATURDAY ROUND- UP PERFORMANCE Join us for a series of non-competive walks and runs. Open to families, individuals of all ages and people of all cultures. For more information contact Avery Vilche at 200-2224 or Renee Timmons at 567-5528 ROLLING HILLS CLINIC D NEWSAILY RED BLUFF TEHAMACOUNTY www.redbluffroundup.com Visit us on facebook (530) 527-1000 1-800-545-3500 Visit us at: FRIDAY FAMILY 4 PACK $25 2:30 PM 1921 ~ 2012 APRIL 20, 21, 22, 2012 NEW START TIME FOR made the day,'' said Jeffrey Kleintop, chief market strategist at LPL Financial. JPMorgan Chase stock soared 7 percent, and other banks followed. Citigroup and Goldman Sachs gained 6 percent. Banks were easily the best-per- forming stocks in the mar- ket, gaining almost 4 per- cent as a group. The Fed had planned to release the results of its review, known as a stress test, for 19 financial insti- tutions Thursday after the market closed. After JPMorgan Chase made its announcement, the Fed pulled a surprise. The central bank released its stress test results a half-hour after the markets closed Tuesday — two days ahead of sched- ule. JPMorgan Chase and 14 other financial institu- tions passed. Four, includ- ing Citigroup, failed. Citigroup stock was down 4 percent in after- hours trading following the Fed announcement. The Dow finished at 13,177.68, its highest close since Dec. 31, 2007. Tuesday's close put the Dow within 1,000 points of its record, 14,164.53, set in October 2007. All 30 stocks in the Dow closed higher, the first time that has happened this year. The Nasdaq composite index rose 56.22 points, or 1.9 percent, to 3,039.88. Best of Tehama County Will be announced in a special section on Digital Edition will stay online through March, 2013 2012 Winners Saturday, March 31, 2012 D NEWSAILY RED BLUFF TEHAMACOUNTY 91ST