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10A Daily News – Friday, April 13, 2012 NEW YORK (AP) — Encouraging signs from two of the most important zones of the world econo- my, the powerhouse of China and the debt-bur- dened countries of Europe, drove the U.S. stock market Thursday to one of its best days this year. Stocks surge; Hewlett-Packard leads Dow higher Wall Street China's central bank reported a surprising jump in loans in March. That eased concerns about a sudden slowdown in the Chinese economy, which has helped pull the globe out of recession. Italy easily sold $6.4 billion in government debt. Borrowing rates for Italy fell, European stock indexes reversed earlier declines after the auction, and worries about the continental debt crisis were calmed, at least for the day. ''European govern- ments have a mountain of debt coming due early this year,'' said John Canally, investment strategist at LPL Finan- cial in Boston. ''Some of what you're seeing today in markets is a bit of relief that they're work- ing through it.'' In New York, the Dow Jones industrial average was on pace for one of the two or three best days this year. It climbed 171 points and was within sight of passing 13,000 again. On Wednesday, the U.S. market snapped out of a five-day slump, its longest and deepest of the year. Investors were wor- ried about European debt, slower job growth and the Federal Reserve's resis- tance to taking further steps to help the econo- my. To instill and reinforce "pride in place" among those of us blessed to live here. overdone,'' said Scott Brown, chief economist at Raymond James. ''This is the manic nature of the stock market. The senti- ment seems to shift back and forth day by day. Either the economy is ''I think the fear was booming or it's complete- ly falling apart.'' With an hour of trad- ing to go Thursday, the Dow was at 12,977. In other trading, the Stan- dard & Poor's 500 index rose 16 points to 1,385. The Nasdaq composite index gained 35 points to 3,051. Materials companies led S&P 500 higher, with energy and industrial stocks close behind. Hewlett-Packard rose 6.5 percent, leading the Dow, after a study reported that shipments of personal computers unexpectedly rose by almost 2 percent at the start of the year. The U.S. trade deficit shrank in February to $46 billion, a four-month low. Exports rose to an all- time high. The shrinking trade deficit raised the possibility that the econo- my grew faster in the first ALL NEW FACILITY Your One Stop Convenience Store ONE STOP Swisher Copenhagen $ Sweets (Grape or Regular) Buy 1, Get 1 FREE Thank You for Voting Us Best Gas Station in Tehama County Tobacco/Cigarette Specials Always 714 Walnut St., Red Bluff RANDAL S. ELLOWAY DDS IMPLANT DENTISTRY 2426 SO. 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The maker of equipment for recording music and video said it expects to post a loss in the first quarter, a result of weaker demand from amateur musicians and DJs. — McKesson Corp. rose 3.7 percent after reporting that the Depart- ment of Veteran Affairs agreed to keep McKesson as its main drug supplier. The VA runs one of the country's largest health care systems. Among stocks making — Google rose 1.3 percent ahead of its quar- terly earnings report, set to be released following the closing bell. In its last report, Google disap- pointed investors, as it rarely does. 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