Red Bluff Daily News

March 13, 2010

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NEW YORK — Major U.S. stock indexes finished mixed on Friday as investors paused their recent betting spree in the financial sector, which snapped a 10-day winning streak. The Dow Jones Industri- al Average rose for a fourth straight day, ending 12.85 points higher, up 0.1 per- cent, at 10,624.69, led by a 3.4 percent gain in General Electric. The measure has risen 0.7 percent over its recent winning streak and ended with a 0.6 percent gain for the week. The Nasdaq Composite Index slipped 0.8 point but ended with a weekly gain of 1.8 percent. The S&P 500 Index was off 0.25 point on Friday but finished with a 1 percent weekly gain. The broad index was hurt Friday by a 0.4 percent decline in its financial sec- tor, which snapped a record 10-day winning streak in which it leapt nearly 7 per- cent. All four financial stocks that posted sharp gains ear- lier in the week on specula- tion the government might soon unload its remaining stakes in them turned lower on Friday. Citigroup was off 5 percent, although it remained the most active stock, representing almost a quarter of New York Stock Exchange composite vol- ume. Fannie Mae was off 1.8 percent, Freddie Mac fell 0.8 percent and American International Group shed 2.5 percent. Despite Friday's poor showing, traders said the strong weekly trend in the financial sector could be a promising signal for the broader market. "It's good to see them showing some leadership again, since you really need the financials to participate in order to have a bull mar- ket that lasts," said trader Ryan Detrick of Schaeffer's Investment Research in Cincinnati. Referring to the recent financial crisis, he added: "They were the ones that got us into the mess, and to a certain extent, they have to bring us out." The basic-materials sec- tor was a market bright spot on Friday, helped by a 7.1 percent surge in Potash Corp. of Saskatchewan. The fertilizer maker raised its first-quarter profit out- look, citing rising demand for its products. On the economic front, the Commerce Department reported that U.S. retail sales rose 0.3 percent in February, in line with expectations. But the pre- liminary University of Michigan/Reuters con- sumer sentiment index fell to 72.5, from 73.6 in Febru- ary. Economists had antici- pated it would rise to 73.8. Analysts said that mar- kets clearly struggled on Friday with the mixed pic- ture of the American con- sumer that emerged from the reports. "To me, the sales data are the key thing, since they tell you about actual behav- ior rather than what people are thinking," said econo- mist Don Rissmiller, of Strategas Research Part- ners. "Ideally, you would have both things pointing in the right direction, but the recovery isn't at the point yet to support that kind of optimism." Elsewhere, the Com- merce Department reported U.S. business inventories were unchanged in January, reflecting tepid sales and increasing stocks of auto- mobiles and other goods. Wall Street economists had forecast inventories would edge up 0.1 percent. 8A – Daily News – Saturday, March 13, 2010 * 235 So. Main St., Red Bluff 527-1657 Furniture Depot MON.-FRI. 9:00-6:00 SAT. 9:00-5:00 • SUN. 11:00-5:00 NO Sale Thru Wed. March 31, 2010 *"no sales tax" in reference to discount given equal to the amount of calculated sales tax. www.integrityhvac.com Visit our website @ 5213 Industrial Way, Anderson, CA State Lic. 750325 Solar Lic. 931200 Comfort you can trust! Redding 242-9100 Anderson 365-9100 Red Bluff 528-9100 March 15th - 21st, $49 special Ages 3 to 9, All costumes provided Call NOW TO SCHEDULE! 530-200-2255 7875 HWY 99E - LOS MOLINOS, CA (530) 384-1265 Orders to go Restaurant No substitutions Breakfast ★ Lunch served 6:30am till 2pm 7 days a week BREAKFAST SPECIAL $ 4 99 Chicken Fried Steak 2 Eggs, Hashbrowns or Homefries & Toast http://www.lesschwab.com RED BLUFF 522 ANTELOPE BLVD. (530) 529-1654 Sale good March 1 thru April 30, 2010 108 Main Street, Suite C, Red Bluff (530) 527-1121 FREE CRAZY COMBO ® When you purchase any Two Large Pizzas & a 2 Liter Soda Expires 04/30/2010 Valid at Red Bluff location only. One coupon per order per visit. $ 8 99 Specials pecials 645 Antelope Blvd. #1 in Frontier Village across from the fairgrounds. • (530) 527-1420 $ 7 99 Breakfast Corned Beef & Eggs $ 7 99 Lunch Grilled Reuben Sandwich Dinner Traditional Corned Beef & Cabbage Now Enrolling Children Recently expanded and moved near Bidwell Elementary License # 525405817 Ê(530) 209-8743 My qualifications include: B.A. in Elementary Education and experience teaching grades K-8. Accepting state pay programs & cash pay, etc. ●●●●●●●●●●●●●●●●●●● Bartlett & Spence 1395 Montgomery Rd. Red Bluff, Ca • 527-2276 Marie Bartlett & Shirley Spence and • Payroll • Bookkeeping Open year around Stocks mixed as financial sector ends hot streak

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