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8B Daily News – Tuesday, May 1, 2012 News that Spain had entered another recession renewed worries about the fragility of Europe's finances Monday and nudged stocks lower. The market ended its first los- ing month this year. Disappointing eco- nomic reports and weak corporate earnings also weighed on stocks. The Standard & Poor's 500 index slipped 5.45 points to close at 1,397.91. For April, it was down 0.8 percent, its first month in the red since November. The Spanish govern- ment said that the coun- try's economy shrank in the first three months of the year, the second straight quarter of con- NEW YORK (AP) — Dow, S&P 500 slip as Spain enters recession Wall Street traction. Spain's economy could be too big to rescue. It's twice as big as the com- bined economies of Greece, Portugal and Ire- land, the three countries that have received bailout loans. The worry is that an index of Midwestern manufacturing and a slowdown in consumer spending last month added to worries that the economy is losing steam. The Institute for Sup- ply Management said its Chicago business barom- eter fell in April to the lowest level in more than In the U.S., a drop in two years. After weak readings for the New York and Philadelphia regions, the market reaction to the Chicago report could have been much worse, said Clark Yingst, chief mar- ket analyst at the broker- age Joseph Gunnar. ''It's very bad news in my opinion,'' Yingst said. ''I'd have thought the market would come under more pressure than it has.'' Weaker earnings reports from health insur- er Humana and the owner of the New York Stock Exchange, NYSE Euronext, also hurt stock indexes. trial average edged down 14.68 points to close at The Dow Jones indus- 13,213.63, but narrowly avoided its first monthly loss since September. The Dow finished April up less than two points. The Nasdaq composite fell 22.84 points to 3,046.36. It posted a monthly loss of 1.5 per- cent. Microsoft also plans an application for Nook, Barnes & Noble's e-read- er, on its Windows 8 tablets, which come out this fall. Microsoft's stock was flat. Growing concerns about Spain knocked European markets lower on Monday. Spain's main stock index, the IBEX 35, sank 1.9 percent. France's CAC-40 lost 1.6 percent. The dollar and U.S. — Health insurer Humana fell 8 percent to after reporting a large drop in first-quarter profit as the company paid more in claims. The results fell short of Wall Street's expectations. Treasury prices edged up as investors parked money in low-risk assets. Ratings agency Stan- dard & Poor's downgrad- ed Spain's government debt to just three notches above junk Friday. On Monday S&P lowered its rating for 11 Spanish banks, which are loaded with bad debt from a col- lapsed housing market. Among stocks making big moves: — Barnes & Noble jumped 52 percent after Microsoft announced that it would invest $300 mil- lion to help Barnes & Noble compete with Amazon.com. The com- panies will create a sub- sidiary for Barnes & Noble's e-book and col- lege textbook businesses. Red Bluff Garden Club Invites you to attend their 51st May 4 & 5, 2012 Friday and Saturday 10 a.m. to 6 p.m. Annual Standard Flower Show "Fun & Flowers from the 50s" Home Arts Bldg., Tehama District Fairgrounds For Information or to enter call 527-9403 Huge Plant Sale Classic Car Show Kid's Flower Planting Activity — Sunoco jumped 20 percent, the most of any stock in the S&P 500. The fuel-refining compa- ny agreed to be bought by Energy Transfer Part- ners, an operator of nat- ural gas pipelines, for $5.3 billion. owner of the New York Stock Exchange, lost 5 percent after reporting that its income plunged in the first three months of the year. Revenue from its trading business was weak, and the company abandoned a merger with the European exchange operator Deutsche Boerse. — NYSE Euronext, Respecting People. Impacting Business Call us. And get back to work. Call us any time for: • An extensive network of recruiting sources • HR expertise and support services • Temporary Workers • Evaluation hire • Testing and training • Experienced recruiters • Full-time employees • Carefully screened candidates • Dedicated service www.expresspros.com 530-527-0727 243 So. Main Street