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10B Daily News – Saturday, August 4, 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 A surge in hiring last month got a big welcome on Wall Street Friday. The Dow Jones indus- NEW YORK (AP) — months of the year. ''It's one step for- trial average surged 217.29 points to close at 13,096.17, ending a four- day losing streak. It was the best day for the Dow since June 29. Markets had been slumping all week after central banks in the U.S and Europe took no new action to shore up the economy, as investors had hoped. ment's closely watched monthly jobs report gave investors assurance that the U.S. economy may be doing better on its own. U.S. employers added 163,000 jobs last month, far more than the 100,000 economists were expect- ing. From April through June, the economy added an average of just 73,000 jobs a month, compared with an average of 226,000 in the first three The Labor Depart- ward,'' said Joe Bell, senior equity analyst at Schaeffer's Investment Research. ''But we would like to see continued improvement in the labor market in coming months.'' U.S. government debt. The selling drove prices down and yields up. The benchmark 10-year Trea- sury note was yielding 1.57 percent, up from 1.48 percent Thursday. There was more to cheer about from the ser- vice sector, which employs 90 percent of all Americans. investors became more optimistic about the econ- omy. Benchmark crude shot up $4.27 to $91.40 on the New York Mercantile Exchange. Oil prices also rose as The Institute for Sup- ply Management reported that U.S. service compa- nies grew at a slightly faster pace in July. The ISM's services index rose to 52.6 from 52.1 in June, which was the lowest reading since January 2010. Any reading above 50 means that business is growing for service providers. news caused investors to sell low-risk assets like The good economic & Poor's 500 index rose 25.99 points to 1,390.99, and the Nasdaq composite index added 58.13 points to 2,967.90. The broader Standard 20-50% off throughout store Sofas • Recliners • Dining Sets • Mattress Sets FINAL DAYS Stocks soar on surprisingly strong July job report Wall Street 8.2 percent in June. ''I'm not ready to declare victory just yet,'' said Uri Landesman, pres- ident of hedge fund Plat- inum Partners. ''Lending activity is still pretty low because banks aren't tak- ing that much risk, and it's hard for an economy to expand when banks are on tenterhooks themselves.'' At the end of a two-day Despite the gain in hir- ing, there were still enough signs of weakness in the latest jobs report to keep hope alive that the Federal Reserve may still take more steps to kick- start the economy at its next meeting in Septem- ber. A separate survey of households by the Labor Department found that the unemployment rate rose to 8.3 percent in July from policy meeting on Wednesday, the Fed said it would take action on the economy ''as needed to promote a stronger eco- nomic recovery.'' On Thursday, markets fell sharply after the European Central Bank didn't announce specific plans to tackle the continent's debt crisis, as many investors expected it would. Several U.S. compa- nies turned in strong earn- ings reports on Friday. Procter & Gamble, which makes Tide, Bounty, NyQuil and many other consumer products, reported a 45 percent ble for stock market dis- ruptions on Wednesday which will cost it $440 million. The stock had fallen 75 percent over the previous two days. On Fri- day, the stock rose $1.47 to $4.05. — LinkedIn shot up $15 to $108.51. The social media company reported that its second-quarter revenue increased faster than analysts had expect- ed. LinkedIn also raised its full-year revenue fore- cast. surge in quarterly earn- ings, easily beating Wall Street's forecasts. P&G's stock rose $1.99 to $65.50. big moves included: — Knight Capital leapt 57 percent after the com- pany obtained an emer- gency credit line, accord- ing to news reports. The trading firm was responsi- Other stocks making — Kraft Foods rose $1.57 to $40.51 after reporting a 5 percent jump in its second-quarter prof- it. Higher prices helped offset a drag from raw- materials costs and cur- rency exchange rates. — Zipcar plummeted $3.88 to $6.75. The stock reached an all-time low Friday after the car-shar- ing network reported lower-than-expected rev- enue in the second quarter and cut its annual revenue estimates. Fort Hood suspect fined again for having beard FORT HOOD, Texas (AP) — A military judge on Friday once again held the Fort Hood shooting suspect in con- tempt of court for show- ing up to a pretrial hear- ing with a beard he had been ordered to shave. Maj. Nidal Hasan, an Army psychiatrist, was fined $1,000 for a sec- ond time. The judge, Col. Gregory Gross, then sent Hasan to a nearby trailer to watch the rest of the hearing on closed- circuit television, as he has done since showing up with a beard at a June hearing. his Muslim faith. Beards are a violation of Army regulations. Hasan's attorneys say he keeps declining to shave because he believes that doing so would violate Sunday, August 12th • 2:00-6:00 pm Red Bluff Community Center Free Haircuts for School Aged Kids Live Music Kids games Free Food provided by: Cornerstone Community Bank Kids receive free professional photographs provided by: "We Shoot Ya Photography" Informational booths Visit us on Facility donated by Red Bluff Community Center Auxiliary For more information call: 529-4074 or visit www.backtoschoolproject.com FREE CUTS FOR KIDS NEW LOCATION Last week, the judge held Hasan in contempt and fined him $1,000. Gross said Hasan would be forcibly shaved at some point before his Aug. 20 trial if he does- n't shave the beard him- self. He said he wants Hasan in the courtroom during the court-martial to prevent a possible appeal on the issue if he is convicted. Hasan is charged with 13 counts of premeditat- ed murder and 32 counts of attempted premeditat- ed murder in the Novem- ber 2009 attack on the Texas Army post. Hasan, DAILYNEWS $1500 in Discount Coupons were published last week in the RED BLUFF TEHAMACOUNTY … And that does not Count all the ads offering percentage discounts, two-for-ones and Free-with-Purchase offers! Don't miss a Day of it! Subscribe Today 527-2151 It pays for itself. 41, faces the death penal- ty or life in prison with- out parole if convicted. Gross on Friday also ordered a pretrial hearing next week to hear from a prosecution witness and determine if he will testi- fy during the trial. Defense attorneys are challenging the validity of the expert witness, who plans to testify that Hasan is a ''homegrown terrorist,'' according to previous pretrial hearing discussions. A defense expert witness may testi- fy at the hearing to counter the prosecution team's witness. Gross also approved a defense request for another expert to testify about extenuating cir- cumstances and mitigat- ing factors regarding Hasan's re-commitment to his religious conver- sion. Prosecutors had objected, saying the defense team already has a mitigation expert and was trying to make the trial more favorable to their client.