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8B Daily News – Tuesday, August 7, 2012 NEW YORK (AP) — U.S. stocks edged high- er on a day marked by uncharacteristic quiet following a turbulent week. In the absence of major economic news, stocks were riding a tailwind of optimism from the most recent U.S. job numbers released last week and hope for more action by European authorities to address that region's debt crisis. On Monday, belea- US stocks rise; Knight Capital gets lifeline Wall Street soared after its founder offered to buy the com- pany. guered stock trading company Knight Capital Group said it has lined up $400 million in financing that will allow the firm to continue to operate. for survival after a dis- astrous software glitch in its systems sent the trading of dozens of stocks into chaos last week. Knight was fighting Best Buy's stock The Dow Jones industrial average closed up 21.34 points at 13,117.51. The broader Standard & Poor's 500 index added 3.24 points to 1,394.23. The index came within half a point of 1,400, where it hasn't traded since May 3. four days of last week after investors were dis- appointed by the lack of specific action from central banks in Europe and the U.S. to support the economy. The Dow lost 197 points from Monday through Thurs- day. The Nasdaq index rose 22.01 points to 2,989.91. Markets fell the first Through the Newspapers in Education program, area classrooms receive the Red Bluff Daily News every day thanks to the generosity of these local businesses & individuals. THANK YOU FOR SUPPORTING NEWS DAILY RED BLUFF TEHAMACOUNTY E VOICE OF TEHA M A C O U N T Y S I N C E 1 8 8 5 NEWSPAPERS The Dow soared 217 points on Friday, how- ever, following a sur- prisingly strong jobs report. The U.S. econo- my generated 163,000 jobs last month, the fastest pace since Feb- ruary and far more than economists were expecting. The upturn was seen as a sign that the U.S. may be resilient enough to pull out of a midyear slump and grow modest- ly, even as the rest of the world slows down. Investors drove markets higher Monday on hopes that the positive momentum will contin- ue. Stock indexes also rose in Europe. Specula- tion has been building that the European Cen- tral Bank will support struggling countries like Spain and Italy by buy- ing bonds issued by those governments. Germany's DAX and cent despite a five-hour blackout from a techni- cal problem that halted trading for much of the day. ''Mutual fund man- agers and hedge funds have sizable holdings in cash and they need to put those to work,'' said Richard Cripps, chief investment officer for Stifel Financial. ''There's optimism over the progress made in Europe and also con- structive news from the U.S. economy.'' Knight Capital's stock fell 98 cents, or 24 percent, to $3.07 Mon- day. It's down 70 per- cent since last Tuesday, the day before a soft- ware malfunction caused its computer sys- tems to send erroneous orders flooding into the market. of investors agreed to buy $400 million of pre- ferred stock that can be converted into a 73 per- cent stake in the firm. Knight takes orders for stock trades from brokers like TD Ameri- trade and E-Trade and banks. Knight said a group the CAC-40 in France both rose a little less than 1 percent. Spain's IBEX 35 soared 4.4 per- • THE GOLD EXCHANGE • LUIGI'S PIZZA • RED BLUFF AUTO DISMANTLING • McDONALDS • OLIVE CITY QUICK LUBE • WALMART • ADOBE ROAD CHEVRON • CORNING AUTO CENTER • DM TECH HIGH SPEED INTERNET • GARCIA CONSTRUCTION • INTER-CITY BODY & PAINT • NORTH MAIN AUTOMOTIVE • RANCHO GRANDE RESTAURANT • SCHOOL HOUSE MARKET • TEHAMA CO. DEPT. OF ED. • FIDELITY NATIONAL TITLE CO. • JOHN WHEELER LOGGING, INC. • TRIPLE R GAS • LASSEN TAX PROFESSIONALS • RED BLUFF VISION CENTER • DUDLEY'S EXCAVATING, INC. • CALIFORNIA WALNUT CO., INC. • BRETNEY SUTTERFIELD • EDWARD JONES, CORNING • ETZLER FINANCIAL & INSURANCE • LEPAGE COMPANY, INC. • OLIVE CITY TAX PROFESSIONALS • PLACER TITLE COMPANY • AIRPORT AUTO REPAIR • KAY STEPHENS, MD • GREENWASTE OF TEHAMA • LOUISIANA PACIFIC CORP. • TEHAMA COUNTY ASSOCIATION OF REALTORS • STEVE'S BACKHOE SERVICE • GONZALES JUMPERS PARTY RENTALS • HUHN ELECTRIC • TEHAMA AUTO CENTER • JANETTE VOTAW ACUPUNCTURE Please help sponsor a classroom subscription Call Kathy at (530) 527-2151 to find out how. the exchanges where stocks are traded, like the New York Stock Exchange. Its future was thrown into doubt after the trading mal- It then routes them to function cost the firm $440 million. Going in the opposite direction was Best Buy Co., which jumped 13 percent after founder and former CEO Richard Schulze offered to buy the company at a premium to its stock price. results beat Wall Street's estimates. The company raised its full- year earnings forecast. — The Interpublic Group fell 86 cents, or 8 percent, to $10.11 after rival Publicis Groupe of France shot down a report that it was weigh- ing a bid to buy the American advertising company. — Tyson Foods fell $1.23, or 8 percent, to $14.17 after the nation's biggest meat company reported that income dropped 61 percent in the quarter partly due to lower U.S. consumer demand for chicken and beef. second-quarter largest shareholder with a 20 percent stake. Among other stocks making big moves: — Cognizant Tech- nology Solutions jumped $6.34, or 11 percent, to $64.21 after the consulting compa- ny's Schulze, 71, is its — Pluristem Thera- peutics climbed 49 cents, or 15 percent, to $3.80. 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