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8B Daily News– Wednesday, June 6, 2012 As world leaders searched for a way out of Europe's mounting debt crisis, U.S. investors moved to the side- NEW YORK (AP) — Stocks inch higher as investors await Europe news Wall Street lines. The major market index- Awards Dinner 2011-2012 School Year Sponsored by RED BLUFF TEHAMACOUNTY 1150 Monroe Street, Red Bluff Thursday, June 14 6:00 PM – 8:30 PM Reservations required (see below!) The V's have dinner for FREE, courtesy of the Daily News, St. Elizabeth Community Hospital and Sponsors for this school year's high school athletes of the week program Family, friends, coaches, fans: $12.50 for dinner (Cash or Check, pay at the door.) 2 big ribs, beans, cole slaw, corn bread, beverages, dessert Check in/Meet & Greet 6:00 PM Dinner at 6:30 PM St. Elizabeth Sports Medicine Program. Dr. Riico Dotson, M.D. Medical Director Dr. Dotson has been practicing sports medicine in Tehama County for 9 years. Raised in Marysville, he is a Stanford Graduate and received his Medical Training and Orthopedic Sports Medicine Fellowship from the Mayo Clinic. He and his wife Marie, enjoy their life in Red Bluff with their three children. Dr. Dotson specializes in all sports medicine and is known for his outstanding patient satisfaction and outcomes in knee arthroscopy and shoulder repair surgery. Awards Ceremony at 7:30 Presentation of Certificates to the V's Presentation of Special Annual Awards Boys and Girls Scholar Athlete Awards Boys and Girls Sportsmanship Awards Boys and Girls Athletes of the Year RESERVATIONS: Call 527-2151 ext 120 • Leave your name • Number of people in your party • If one or more V's will be with you • Phone number Hope to See You There! DAILY RED BLUFF TEHAMACOUNTY in case we have questions NEWS "The V's" Jack the Ribber ATHLETES OF THE WEEK Tehama County High School es closed modestly higher, after wavering between slight gains and losses throughout the morning. Trading volume was light and the stock moves were small. In Europe, markets were mixed. The Dow Jones industri- DAILYNEWS al average rose 26.49 points, or 0.2 percent, to 12,127.95. It traded within a range of 75 points, one of the nar- rowest of the year. Timothy McCandless, senior stock analyst at Bel Air Investment Advisors in Los Angeles, described Tuesday's market as stuck in purgatory: The economy is not strong enough to rep- resent a healthy recovery, but not weak enough for the Federal Reserve to do more to help. ''It's wrestling with those two sides,'' McCand- less said. ''We're right in between.'' Finance ministers and central bank presidents from the world's seven wealthiest nations held an emergency conference call to discuss how Europe can heal its weakest countries without alienating the stronger ones that have to foot the bill. Leaders are worried that Spain and Cyprus, which are scram- bling for money to prop up their troubled banks, will soon need to be bailed out by their richer counterparts. ''As we saw in Lehman Brothers, when fear hits the banking system, it shuts down,'' said Jim Millstein, CEO of the advisory firm Millstein & Co. and a for- mer Treasury official who C & C PROPERTIES 741 Main Street, Suite #2 Red Bluff, CA 96080 1-800-287-2187 (530) 527-2187 An Independently owned and operated Member of Coldwell Banker Residential Affiliates. FOR 24/7 PROPERTY INFO CALL 1-888-902-7253 AND ENTER THE PROPERTY CODE FROM THE AD. 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''A couple of years ago, a statement like that by any sovereign would have roiled the market,'' O'Keefe said. He guesses that the market, used to bad news by now, has already priced in Euro- pean calamity. ''We were saying, ''We're not all that far from the brink now.'' 'We're on the brink' in 2008,''' O'Keefe said. The call didn't yield any concrete solutions for Europe, at least not publicly. Several investors who were unsure of what to do Tues- day said they expect more clarity — and perhaps more drama — later this month, after Greece holds elections June 17 and world leaders from the nations known as the Group of 20 meet for the two days afterward. Spain isn't part of the Group of Seven, the coun- tries that held the confer- ence call, but the U.S. and Germany are. As the G-7 leaders met, Spain's prime minister issued a plea for Europe ''to support those that are in difficulty.'' Just beforehand, Spain's finance minister said the country was in danger of not being able to borrow money on the open market. In the U.S., the Institute for Supply Management reported that U.S. service companies grew at a slight- ly faster pace in May. The stock indexes briefly popped higher on the news. At the end of the day, the Standard & Poor's 500 index closed 7.32 points higher to 1,285.50. The Nasdaq composite index rose 18.10 points to 2,778.11. O'Keefe said the market is waiting for a blueprint about what to do in Europe and other regions. ''I think the markets are looking and saying, 'Where is the polit- ical leadership?'' O'Keefe said. ''And that's true around the world. The Europeans just happen to be out of the frying pan and into the fire right now.'' A central problem in Europe is whether the best solution means spending less money or more. Any plan is sure to irritate at least some countries. The German finance minister said again Tuesday he would oppose watering down budget cuts that stronger countries like his own want to impose on weaker countries like Greece. The yield on Spain's 10- year bonds crept down to 6.31 percent, but that is still dangerously high. Other countries including Greece and Portugal were forced to seek bailouts once their bor- rowing costs hit 7 percent. Patrick O'Keefe, director of economic research at the accounting and consulting firm J.H. Cohn, was sur- prised that markets didn't Some leaders have pushed for a central body that would have more authority over banks in all 17 countries that use the euro. A deposit-insurance program, like the one run by the Federal Deposit Insurance Corp. in the U.S., could keep fearful customers in Spain and Greece from yanking their money out of banks there. 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