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8B Daily News– Wednesday, June 13, 2012 NEW YORK (AP) — Stocks staged one of their strongest rallies of the year Tuesday, erasing a big decline from the day before, after a Federal Reserve offi- cial said he supported more measures to stimulate the economy. The Dow Jones industri- al average shot up 162 points, and every major cat- egory of stock in the U.S. market closed higher. Charles Evans, presi- dent of the Fed's Chicago Hope for Fed help powers US stocks to big gain Wall Street bank, told Bloomberg News that he supported action to produce faster job growth, including having the Fed commit to super- low interest rates until unemployment falls signif- icantly. Last week, Fed Chair- man Ben Bernanke told a committee of Congress that he was ready to act if the economy needs it, but he laid out no immediate steps. Investors have been wor- ried about an escalating cri- sis in Europe over govern- ment debt and the health of banks, and job growth in the United States has been slower over the past three months than it was earlier in the year. ''If there's really bad news, it creates a height- ened sense of anticipation that the Fed is going to ride to the rescue,'' said Jeff Lancaster, a prinicpal at the JUST MOVE IT Part of a national campaign to promote physical activity for American Indians and Alaskan Natives FRIDAY, JUNE 15TH 11:30 AM Registration and Start Psycho Fitness & MMA 1450 Schwab St., Red Bluff non-competive walks and runs. Open to families, individuals of all ages and people of all cultures. Join us for a series of For more information contact Avery Vilche at 200-2224 or Renee Timmons at 567-5528 ROLLING HILLS CLINIC DAILYNEWS RED BLUFF TEHAMACOUNTY wealth advisory firm Bing- ham, Osborn & Scarbor- ough in San Francisco. ''It's almost like you've crashed your car and you've got a $500 deductible, and you take the car to the body shop and you just have this perverse desire for the dam- age to be well over $500,'' he said. chief investment officer of Cabot Money Management, said investors were looking for an excuse to buy. ''The question for Bernanke is should he add Rob Lutts, president and Wed-Thurs-Sun 11-8pm • Fri & Sat 11-9pm Knick's Now Open! Family Fun Zone •Games •Prizes •Food •Birthday Parties •Special Events •Fun for the whole Family! 6 FREE TOKENS with this ad. 1 coupon per person Good through 6/30/12 830 Main St., Red Bluff (530) 528-9663 find us on face book more medicine when he's already doped up the patient enough already,'' he said. Materials companies, industrial companies and banks rose the most, but each of the 10 major cate- gories of stock in the Stan- dard & Poor's 500 climbed. Energy stocks also had an impressive day after the price of oil rose from an eight-month low. Over the weekend, Euro- pean countries committed to lend Spain up to $125 bil- lion to save its failing banks. But on Monday, the Dow fell 142 points. Investors fretted that they did not know enough about the details. The big rally in U.S. stocks on Tuesday came despite more discouraging signs from Europe. Spain's borrowing costs jumped for a second day, to the highest level since Spain adopted the euro currency. The interest rate, or yield, on Spain's 10-year bond rose 0.20 percentage point to 6.67 percent. It rose as high as 6.81 percent ear- lier in the day. Sierra Sound Car Audio 35th $ 226 So. Main St., Red Bluff 527-3735 All CD's 13.99 Anniversary Sale or less