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8B Daily News – Tuesday, June 5, 2012 Amixed close on Wall Street as calm returns Wall Street By DANIEL WAGNER AP Business Writer Calm returned to the stock market Monday after a spasm of fearful selling last week. Major indexes closed mixed after trading modestly lower for most of the day. The Dow Jones indus- trial average opened at its lowest level since Decem- ber after a 275-point sell- off on Friday ignited by grim economic signals, especially a dismal report on the U.S. labor market. Randy Frederick, managing director of active trading and deriva- tives at the brokerage Charles Schwab, expects trading to remain slow and steady unless traders are moved by positive news, like a surprisingly strong economic report, or fresh fears about Europe's financial stabil- ity. ''You've got to find a catalyst for people to enter the market, and frankly, I just don't see one right now,'' Frederick said. In Europe, bond Spain, meaning that they appear less likely to default. Lower bond yields translate into decreased borrowing costs for those debt-strapped nations. The price of the 10-year investors appeared less concerned about the finances of some of the region's financially trou- bled countries. Bond yields fell for Italy and U.S. Treasury note fell, lifting its yield to 1.53 per- cent. The yield hit a record low of 1.44 percent on Fri- day as fears of a global slowdown increased demand for safe invest- ments. only three fell: Energy companies, whose revenue will be hurt by falling oil prices; industrials, hit by fears of a global economic slowdown; and financial stocks, which would likely bear the brunt if Europe's problems worsened. Caterpillar, which The Dow closed down 17.11 points, or 0.1 per- cent, at 12,101.46. The Standard & Poor's 500 index rose a fraction to 1,278.18. The Nasdaq composite index rose 12.53, or 0.5 percent, to 2,760.01. Among the ten industry groups in the S&P 500, exports heavy machinery, fell 2.6 percent on fears that slower building in China and Europe will reduce demand for con- struction equipment. Most of the other big losers in the Dow average offer global financial services: JPMorgan Chase, General Electric and Bank of America. Chesapeake Energy, the second-biggest U.S. natur- al gas producer, rose 6 per- cent, the most in the S&P 500. The company said it will replace four board members, bowing to pres- sure from activist share- holder Carl Icahn. homebuilders had the biggest declines in the S&P 500. PulteGroup lost 6.8 percent, Lennar 5.3 percent and D.R. Horton 4.8 percent. The declines added to steep losses for all three companies on Fri- day. In two days, they have lost about one-third of the huge gains that they post- ed in the first three months of the year. Aside from banks, The S&P 500 has fallen nearly 10 percent since its recent peak of 1,419, reached on April 2. Traders call a decline of that size a market correc- tion. Respecting People. Impacting Business Call us. And get back to work. Be prepared. Have your car AC serviced. repair, custom paint and matching 35 E7DH;57 EB75;3> "'//5 Auto repair and refinishing, glass +refrigerant, (134A) 530.527.6160 • 915 Madison St., Red Bluff Red Bluff Collision Mon-Fri: 9am - 7pm Sat: 9am - 5pm Sun: Closed En Español 26 Sale Lane, Red Bluff (530) 529-2192 www.Claytonredbluff.com $48,505 3 bedroom, 2 bath Singlewide: Includes home, set-up, delivery, X12 foundation, gravel pad, A/C, skirting and steps It's heating up outside. 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 604 Main St. Red Bluff (530) 529-5154 www.redblufflosmariachis.com Mon-Fri 9am-11am Lunch & Dinner: Mon-Thurs 9am-9pm Fri-Sat-Sun 9am-9:30pm Breakfast: HURRY! Last day for special is June 8th Cannot be used with other specials. Limit to one coupon per person or group per day. Good through June 8, 2012 Breakfast Special Burrito $ 199