Issue link: https://www.epageflip.net/i/71150
8B Daily News – Thursday, June 21, 2012 Furniture Depot 235 So. Main St., Red Bluff 527-1657 SAT. 9:00-5:00 • SUN. 11:00-5:00 MON.-FRI. 9:00-6:00 Furniture Depot would like to introduce the 10 Stop by and see how affordable owning a Tempur-pedic can be It's going to take more than low interest rates to fire up investors. NEW YORK (AP) — Fed's latest action doesn't impress investors Wall Street The Federal Reserve's latest plan to help the econ- omy failed to impress Wall Street on Wednesday. Stocks finished slightly lower for the day, and not much better than they were before the Fed announce- ment. keep its ''Operation Twist'' program going through the end of the year rather than let it expire at the end of this month. It aims to keep long-term interest rates low by selling the Fed's short-term U.S. govern- ment debt and buying long-term debt. Economists have point- ed out that long-term inter- est rates are already near record lows, and that con- sumers and businesses who aren't borrowing today won't necessarily borrow tomorrow just because it's a little cheaper. The Fed also sharply The Fed said it would lowered its outlook for U.S. economic growth. Chairman Ben Bernanke said the economy would grow no more than 2.4 per- cent this year, down from an April forecast of no more than 2.9 percent. ''What the markets real- ly don't like was he ratch- C & C PROPERTIES eted down growth sharply,'' said Doug Cote, chief mar- ket strategist at ING Invest- ment Management. The Dow Jones indus- trial average closed down 12.94 points, or a tenth of a percent, at 12,824.39. The Standard & Poor's 500 index fell 2.29 points, or 0.2 percent, to 1,355.69. The Nasdaq composite index rose 0.69 points, a fraction of a percent, to 2,930.45. Indexes dipped right after the Fed's announce- ment came out at 12:30 p.m., then quickly went back to where they were. It was the latest knee-jerk response to news headlines in a stock market that has been buffeted in recent weeks by fears that Europe's 17-nation curren- cy union could rupture. ''It's obvious we're still in a trader's market, and it's a market that is still responding to news events, including the Fed, almost hour by hour, if not minute by minute,'' said Quincy Krosby, a market strategist with Prudential Financial. Stocks spent most of the morning lower. Some of the same weakness being addressed by the Fed has forced Procter & Gamble 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. FORECLOSURES AND HOMES UNDER $200,000 $9,999 2 BD 2 BA 1000 SQ.FT. Prop Code 4249 $29,900 2 BD 2 BA 1248 SQ.FT. Prop Code 4359 $29,900 2 BD 2 BA 1344 SQ.FT. Prop Code 4209 $29,995 2 BD 2 BA 1344 SQ.FT. Prop Code 24469 $32,000 3 BD 2 BA 1056 SQ.FT. Prop Code 4089 $40,000 2 BD 1 BA 1106 SQ.FT. Prop Code 4389 $65,000 4 BD 2 BA 1782 SQ.FT. Prop Code 4059 $72,000 1 BD 1 BA 912 SQ.FT. Prop Code 4129 $79,500 3 BD 2 BA 1344 SQ.FT. Prop Code 4119 $95,000 2 BD 2 BA 1456 SQ.FT. Prop Code 4099 $102,000 3 BD 2 BA 1512 SQ.FT. Prop Code 4289 $109,800 3 BD 2 BA 1643 SQ.FT. Prop Code 4199 $120,000 3 BD 1 BA 2200 SQ.FT. Prop Code 4049 $140,000 2 BD 2 BA 1312 SQ.FT. Prop Code 4069 $169,500 3 BD 2 BA 1596 SQ.FT. Prop Code 4899 $182,900 3 BD 2 BA 2106 SQ.FT. Prop Code 4169 $199,000 3 BD 2 BA 1224 SQ.FT. Prop Code 4229 TEHAMA COUNTY REAL ESTATE TEAM • OPEN 7 DAYS A WEEK www.redbluffcoldwellbanker.com See All Tehama County Listings at Co. to reign in recent price increases as people cut back on spending. P&G is the world's largest con- sumer products company, and sales of its Tide deter- gent and Duracell batter- ies, among other things, are a good window into the economy. ued slow growth in devel- oped markets and slower growth in China, and cut estimates for fourth-quar- ter revenue and income. The stock dropped $1.83, 2.9 percent, to $60.39, making it the biggest decliner in the Dow Jones industrial average. Next week, new figures on personal income and consumer sentiment will be released. The reports could signal more retrenchment by the U.S. consumer. Markets in Europe rose and the euro strengthened against the dollar. Bench- mark stock indexes rose 0.5 percent in Germany, 0.6 percent in Britain and 2.1 percent in Italy. Borrowing costs fell in Europe, too. Yields on government bonds in Spain and Italy fell, a sig- nal that investors are less worried about the finances of those two countries. The yield on the bench- mark 10-year Treasury note rose to 1.63 percent from 1.62 percent the day before as investors moved money out of low-risk assets. P&G predicted contin- COMPLETE AUTO REPAIR recommened 30K, 60K, 90K SERVICES AT LOWER PRICES All makes and models. We perform dealer Smog Check starting at$ Pass or FREE retest 527-9841 • 195 S. Main St. (most cars and pick-ups) 2595 + cert.