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8B Daily News– Wednesday, May 16, 2012 (AP) — Europe's lat- est political impasse cast a gloom over financial markets Tuesday. The euro plunged, and the Dow Jones industrial average extended a slide that has wiped out nearly 5 percent of its value in two weeks. Dow Jones average continues a two-week slide Wall Street five-year high in May. Homebuilders gained: Hovnanian Enterprises surged 10 percent, Lennar Corp. 3 percent and PulteGroup Inc. 2 percent. The biggest action of the day came shortly before U.S. markets opened, when a Greek party leader announced the talks to build a coali- tion government had failed. The euro and major European stock markets turned sharply lower and stayed there the rest of the day. Newly elected politi- cal leaders in Greece dis- agree about whether to accept more international bailouts and continue with painful spending cuts. If Greece exits the euro currency, it could rattle financial markets around the world. In the U.S., stocks opened mixed and then staged a weak, mid- morning rally after word that confidence among U.S. builders rose to a The Dow and other stock indexes meandered between gains and losses for much of the day, then turned decisively lower in the last hour of trad- ing. for its first monthly decline since September, when it fell 6 percent. The Standard & Poor's 500 index finished down 7.69 points, or 0.6 per- cent, at 1,330.66. The Nasdaq composite index fell 8.82, or 0.3 percent, to 2,893.76. The Dow wound up with a loss of 63.35 points, or 0.5 percent, to close at 12,632. Losses by most of its compo- nents were offset by a big gain for JPMorgan Chase. The nation's biggest bank rose 1.3 percent, recovering some of the losses it has sus- tained since revealing a $2 billion trading loss last week. The Dow has lost 647 points, or 4.9 percent, since May 1, when it hit a four-year high of 13,279.32. In that time it has fallen every day but one. The Dow is on track Red Bluff Newest & Best Video & Game Rental Kiosk Come Rent New Releases, Games, Classics & Favorites Locally owned by Dave & Barb Baxter OPEN 7 DAYS Located Inside: LUIGI'S PIZZA AND PASTA SUN.-THUR. 10:30AM-9PM Call 530-200-6977 www.baxclanvideos.com Advertising available on kiosk FRI. & SAT. 10:30AM-10PM BAXCLAN VIDEOS The euro fell as low as $1.2720, a four-month low against the dollar, after Greek socialist leader Evangelos Venize- los declared that attempts to form a governing coalition there had failed and new elections will be held next month. Aside from fears about Europe, stocks are suffering because a string of weaker eco- nomic data has dimmed hopes for corporate prof- its in the current quarter ending June 30, said John Butters, senior earnings analyst at Fact- Set, a financial data provider. 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The Stress Management class will teach how to cope with the STRESS of living in these perilous times, how it affects our health; learning strategies to deal with it. Free classes, open to the public. Bring a friend. 720 S. Jackson St., Red Bluff in the gymnasium. Daycare EMS Approved Pediatric CPR/First Aid Industrial OSHA Approved CPR/First Aid Public Adult CPR & First Aid Wilderness First Aid Babysitting Safety Youth Water Safety Daily and affordable classes: AHA/HCP or Pro-CPR 530-527-4997 80 Gurnsey Ave. - Red Bluff, CA 96080 (Behind Guy Rents) margescpr@juno.com returns in emerging mar- kets like China and India. Among other stocks making big moves: — Home Depot slumped 2.4 percent after the world's biggest home-improvement com- pany forecast revenue that was below what Wall Street analysts were expecting. steady at 6 percent, But- ters said. In the two weeks since, as the U.S. economy appeared to soften and Europe's problems reemerged, he said, analysts cut their estimates for S&P 500 earnings growth to 5 per- cent. Analysts expect earn- ings to decline this quar- ter for half of the 10 industry groups in the S&P 500, Butters said. He said many expect a strong rebound in the fourth quarter as demand Albertson Training Center owns the T.J. Maxx, Mar- shalls and HomeGoods store chains, shot up 6.9 percent, the most in the S&P 500 index. The dis- count retailer reported a 58 percent surge in first- quarter income and raised its full-year profit forecast. — Avon Products Inc. fell 9.7 percent, the most in the S&P 500 index, after perfume marketer Coty Inc. canceled its unsolicited, $10.7 billion bid for the cosmetics retailer. — TJX Cos., which — Groupon rose 3.7 percent after the online daily discount site report- ed first-quarter revenue that exceeded analysts' expectations. James W. Tysinger, Jr. M.D. Eye Physician & Surgeon Fellow American Academy of Ophthalmology We accept Medical, Medicare & most Insurances Office Hours: Tues-Wed-Thurs 8am-4:30pm Mon & Fri 1pm-4:30pm For Emergencies, After Hours, Week-ends, Call 530-567-5001 345 Hickory St. Red Bluff Tel: (530) 529-4733 Fax: (530) 529-1114 Tehama County DAILYNEWS Farm Bureau and RED BLUFF TEHAMACOUNTY T H E V O I C E O F T E H A M A C O U N T Y S I N C E 1 8 8 5 Candidates Forum co-sponsoring the The Races Invited: US Representative District 1 Assembly District 3 Superior Court Judge 1 Superior Court Judge 2 Supervisor 1st District Supervisor 2nd District Supervisor 5th District May 23 ★ 6:30 pm Red Bluff Veteran's Hall Why - So that the voters of Tehama County will be educated and better able to make their voting choices.