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8B Daily News– Wednesday, July 4, 2012 NEW YORK (AP) — Stocks climbed Tuesday in an abbreviated holiday trad- ing session after an encour- aging report about manu- facturing. Energy stocks rose the most because of increased tension over oil- rich Iran. Stocks rise as oil prices, factory orders climb Wall Street wavered in early trading, then moved decisively higher after the government reported that factory orders rose in May. Caterpillar, Alcoa, Boeing and other stocks that depend on man- ufacturing rose. The report was welcome after a trade group reported on Monday that U.S. manu- facturing shrank in June for the first time since July 2009, the first month after the Great Recession ended. The price of oil climbed more than 4 percent after Iran threatened to block a critical Persian Gulf ship- ping route. On Sunday, Europe enacted stricter rules against buying oil from Iran, trying to force it Major stock indexes DETROIT (AP) — From mini cars to monster to be more open about its nuclear program. New York crude rose $3.91 per barrel to $87.66. The supply fears drove energy stocks up more than 2 percent, more than any other industry in the Stan- dard & Poor's 500. Chevron rose $1.51, or 1.4 percent, to $107.37. The Dow Jones industri- al average finished 72.43 points higher at 12,943.82. The S&P 500 index rose 8.51 to 1,374.02. The Nas- daq composite index rose 24.85 to 2,976.08. Brian Jacobsen, chief portfolio strategist at Wells Fargo Fund Management, was investing in energy companies — not just oil but also natural gas. He fig- ures that as the price of oil rises, more businesses will explore natural gas as an alternative. ''Like it or not,'' Jacob- sen said, ''we're dependent pickups, sales of new cars and trucks surged in June on a variety of energy sources.'' Ford and General Motors both jumped after they and other car compa- nies reported higher sales for June. Overall car sales still came in slightly below what analysts polled by FactSet were expecting. Factory orders increased 0.7 percent in May from April, the Commerce Department said. Core cap- ital goods, which include machinery and computers, rose 2.1 percent. That was better than the 1.6 percent estimated last week. ''Not much was expect- ed, and it managed to come in just above 'not much,''' said Patrick O'Keefe, direc- tor of economic research at J.H. Cohn. O'Keefe said he keeps waiting for the U.S. econo- my to turn a corner but has- n't seen it yet. ''We're still getting growth, and that was expected,'' he said, ''but it's growth that is both weak and erratic.'' and eased concerns that Americans would be turned off by slower hiring and other scary headlines. Automakers sold nearly 1.3 million cars and trucks in June, up 22 percent from the same month last year. Chrysler posted its best June in five years. Sales soared at Volkswagen, which is on track for its best year in the U.S. since 1973. The results allayed fears that the car market's Mostly, investors were in a holding pattern, wait- ing for the government's Friday report on June employment, and for com- panies to start reporting momentum had stalled. U.S. sales were on track to reach 14.5 million after the first four months of the year. But the annual pace dropped to 13.8 million in May, as the stock market plunged and hiring slowed. June brought more worri- some news about jobs growth and consumer confi- dence. away last month. In fact, June's sales pace rose to But buyers didn't go 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. 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Know someone incarcerated you'd like to send a Bible to? Ask about our 20% OFF! $ 530-527-7663 Monday-Friday 10-6 second-quarter earnings next week. Trading volume was light. The market closed three hours early, at 1 p.m., and many traders had 14.1 million, according to Autodata Corp. And if sales stay at that level for all of 2012, it will be the indus- try's best year since 2007. Falling gas prices, cheaper loans and new models like the Ford Escape and Dodge Dart drew buy- ers. A revived housing mar- ket lifted sales of pickups. And there was still plenty of demand from people who bought cars in the middle of the last decade and needed to replace them. Annual sales hit a high of 17 million already taken off for the Fourth of July holiday. Europe was relatively quiet, though with under- pinnings of discord. A Greek government spokesman said the gov- ernment was preparing an ''alarming'' report on its recession in a bid to rene- gotiate the terms of its bailout. Slovakia's prime minis- ter said his country was running out of patience for bailing out its more free- spending neighbors. Cyprus opened talks with the European Union and the International Monetary Fund on a bailout for its troubled banks. The European Central Bank will announce later this week whether it will cut interest rates, a move that would likely drive markets higher but also sig- nal that Europe's economy is still weak. Major indexes in France, Britain, Ger- many, Spain and Greece rose. Carmakers report strong June sales, easing worries in 2005, and those cars and trucks are now seven years old. ''If a family in Iowa's only mode of transportation is on the fritz, they are going to buy a replacement vehi- cle, even if Spain's econo- my is on the brink of col- lapse,'' says Alec Gutierrez, a senior market analyst at Kelley Blue Book. Automakers also started their Independence Day promotions a little early and that juiced sales at the end of the month. 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