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8B Daily News – Tuesday, July 31, 2012 two-day rally that sent stocks soaring last week fiz- zled out Monday. European leaders vowed Thursday and Friday to keep the continent's mone- tary union intact, and investors sent stock markets shooting higher. But stocks were little changed Monday as investors waited to see if they would back up their words with action. The Dow Jones industri- NEW YORK (AP) — A Stock indexes drift lower, ending a two-day rally Wall Street al average sank 2.65 points to close at 13,073.01. JPMorgan Chase led the Dow lower, falling 2 per- cent to $36.14. U.S. Treasury Secretary Timothy Geithner met sepa- rately with Germany's finance minister and the head of the European Cen- tral Bank, Mario Draghi, on Monday. Draghi's pledge to do whatever was needed to protect the euro set off a market rally last week. The Dow rose back above 13,000 for the first time since May and is now up 1.5 percent for the month. Hopes are high that Draghi will announce plans to support the euro when the central bank meets Thurs- day, said David Brown, the CEO and chief market strategist at the research firm Sabrient. ''I think that's the big story this week,'' Brown said. ''The market has really responded to his bold state- ment. I hope the ECB takes action. If they don't do any- thing, it's not going to be pretty.'' Investors are also look- ing toward the Federal Reserve's meeting this week. Many in the financial markets believe the Fed will take new steps to stimulate the economy in coming months. The Fed will release its statement on interest rate policy Wednes- day afternoon. peak in the second half of the year. But Stovall said economic reports and earn- ings estimates ''point to a more challenging period ahead.'' Besides the Fed state- ment and the ECB meeting, another potentially market- moving event comes up Fri- day, when the U.S. Labor Department releases its monthly employment sur- vey. Economists expect that the unemployment rate will remain at 8.2 percent. In other Monday trading, Dinner with the Doctor Creating Health: Avoiding Today's Epidemics Scientifically sound, seldom heard, metabolism tips for avoiding and improving obesity, diabetes, hypertension, depression and more. Light Meal Served $5.00 fee Registration Required! To register, call Loree @ (530) 527-5077 Or (530) 526-5077 By Sunday, August 15, 2012 the broader Standard & Poor's 500 index fell 0.67 of a point to 1,385.30, while the Nasdaq dropped 12.25 points to 2,945.84. The indexes had been creeping higher early in the day, then reversed course soon after a regional manu- facturing report came in much weaker than analysts had expected. A survey of manufacturing by the Dal- las branch of the Federal Reserve showed a steep drop in July. Economists had forecast a modest gain. Two corporate deals announced early Monday pushed some stocks higher. Chicago Bridge & Iron Co. agreed to buy Shaw Group for $3 billion in cash and stock. Shaw jumped $14.80, or 55 percent, to $41.49. Of the 294 companies in the S&P 500 that have reported earnings so far, 195 have surpassed analysts' expectations. But the bar was set low. Analysts now expect quarterly profits will sink 0.25 percent and rev- enue will rise just 1.9 per- cent compared with the year before, according to S&P Capital IQ. That would be the worst earnings season since the summer quarter of 2009. Medical and industrial equipment maker Roper Industries said it plans to buy hospital software com- pany Sunquest Information Systems for $1.42 billion. Roper also raised its earn- ings estimate for the year, a result of the pending merger and a stronger dollar. Roper gained 1 percent to $99.64. Sunquest is privately owned. Among other stocks making big moves: — Supermarket operator History suggests the stock market could head higher in the coming months, said Sam Stovall, chief equity strategist at S&P Capital IQ. Stocks usually hit their annual Complete Autobody Repair INTERCITY BODY & PAINT Factory Trained Specialists In: • Painting • Fiberglass Repair • Exotic Metals • Color Matching • Frame Repair • Spray-In Bedliners • All Auto Manufacturers • Rental Cars Available We accept all Insurance Carriers Sofa & love seat set only $ 1899 530 529-2040 1355 Vista Way, Red Bluff amazingfindsredbluff.com RED BLUFF 530-917-1138 REDDING 530-917-7797 22660 Antelope Blvd. Special order, while supplies last, expires 7/31/12 Two Locations - 30,000 square feet 3351 S. 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