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8B Daily News– Wednesday, July 11, 2012 NEW YORK (AP) — Stocks fell for the fourth straight day Tuesday fol- lowing a profit slump at technology companies and a steep decline in oil prices, which sent energy stocks sharply lower. The Dow Jones industri- al average fell 83.17 points to close at 12,653.12. Alu- minum maker Alcoa was the biggest loser in the Dow, giving up 4 percent after reporting a slump in rev- enue late Monday. Poor's 500 lost 10.99 points to 1,341.47. The index is in its longest slump since May 18. The broader Standard & Stocks fall for a fourth day as tech profits slump Wall Street weighed hopeful develop- ments in Europe earlier in the day. Before U.S. mar- kets opened, European finance ministers announced they had agreed on the terms of a bailout for Spain's banks. The first installment of $37 billion in aid can be ready by the end of the month. Investors were con- cerned that some details seemed to be missing from the plan. Chip maker Advanced Micro Devices fell sharply after reporting that a slow- down in China and Europe led to an 11 percent drop in second-quarter revenue. The company had previous- ly forecast a gain of 3 per- cent. That news sent other technology stocks down hard. The tech-heavy Nas- daq composite dropped 1 percent, the most of the three major indexes. It closed 29.44 points lower at 2,902.33. The bad news out- market: worries about a slew of upcoming corporate earnings reports. Financial analysts expect that earn- ings at companies in the S&P 500 fell 2 percent in the April-through-June peri- od compared with a year ago, according to S&P Cap- ital IQ. That would be the first drop in nearly three years. ''The past quarter was Also weighing on the ties and consumer staples, industries that fare better than others when the econo- my is struggling, rose slightly. A resolution to a labor dispute in Norway early Fri- day weighed on oil prices, which pushed energy stocks lower. Early Tuesday, the Norwegian government intervened to end a strike that threatened North Sea oil production. great, but going forward many companies may have problems,'' said Joe Kina- han, chief derivatives strate- gist at TD Ameritrade, a brokerage. ''People are con- fused about what to think.'' SAN DIEGO (AP) — Nego- tiators from the United States and eight other Pacific Rim countries concluded a round of talks Tues- day on one of the most ambitious trade agreements in decades, as pressure mounted on Japan to decide if it wants to join Mexico and Canada as the newest mem- bers of the pact. Benchmark crude oil fell $2.08 to $83.91 a barrel in New York. Major energy companies dropped as a result, including Occidental Petroleum, down $1.95 at $83.24, and Cono- The administration of President Barack Obama notified Congress this week that Mexico and Canada were joining the Trans-Pacific Partnership, triggering a 90-day waiting period before those two countries can enter talks later this year. Japan expressed interest last year in joining the pan-Pacific July 15, 2012 2-4 pm Soap Making Survival Class # 4 Did you know that commercially produced soaps have a lot of chemicals and unwanted ingredients that can cause allergies and other skin problems? Soap making is easily learned and the ingredients you use will be safe and therapeutic for your skin. Learn about Organic ingredients, colors and fragrances. Come see a demonstration and learn to make your own soaps. Free recipes and E Book. FREE to the public SDA Church gymnasium 720 South Jackson St., Red Bluff coPhillips, down 90 cents at $53.43. Natural gas producers took a hit from a sharp drop in the price of natural gas, which was down 5 percent at $2.74 per 1,000 cubic feet. Cabot Oil & Gas slumped $1.20 to $39.07 and Chesapeake Energy gave up $1.29 cents to $18.69. Also weighing on com- modities was a report from China that import growth fell in half in June from pact, which would slash import tariffs on a wide range of goods and services. But it was unclear if Prime Minister Yoshihiko Noda has enough domestic support to make the move. ''We are all awaiting informa- tion from Japan as to whether it has made a decision,'' Barbara Weisel, chief U.S. negotiator, said May, a signal its economy may be slowing more than expected. The Chinese economy, the world's sec- ond biggest, is growing at its slowest pace since the 2008 financial crisis. Copper fell 1 percent to $3.40 per pound. China is a big importer of the metal. In stocks, the selling was broad. Eight of the ten industry groups in the S&P 500 fell. Industrial compa- nies led the declines with a slump of 1.6 percent. Utili- at a news conference as the 13th round of talks ended in San Diego. Tran Quoc Khanh, Vietnam's In Europe, the deal to aid Spain helped push the yield on its benchmark 10-year government bond down to 6.8 percent. On Monday, that country's key borrow- ing rate surged to 7 percent, a dangerously high level. The lower yield means investors are less fearful about the country having trouble paying its debts. Portugal, Ireland and Greece all had to ask for help from international lenders after spikes in their own borrowing rates made it unaffordable for them to raise money from selling bonds on the open market. Spain is the largest Euro- pean country to date to seek international assistance. In corporate news, Applied Materials, which makes equipment for chip- makers, cut its fiscal year profit and sales estimates because of weak demand. The stock fell 30 cents to $10.71. AMD, the chip maker hurt by slumping sales in China, plunged 63 cents to $4.99. US and Pacific Rim nations end round of trade talks not be another delay in the negoti- ations,'' he said. negotiator, was more pointed in his remarks, saying he hoped Japan would decide by the end of August. ''I think, logically, we would like Japan to be together with Canada and Mexico so there will 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. 2 BD 2 BA 1000 SQ.FT. 2 BD 2 BA 1344 SQ.FT. 2 BD 2 BA 1344 SQ.FT. 3 BD 2 BA 1056 SQ.FT. 2 BD 1 BA 1106 SQ.FT. 2 BD 2 BA 1104 SQ.FT. 4 BD 2 BA 1782 SQ.FT. 3 BD 2 BA 1344 SQ.FT. 1 BD 1 BA 912 SQ.FT. 2 BD 2 BA 1496 SQ.FT. 3 BD 2 BA 1512 SQ.FT. 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