Issue link: https://www.epageflip.net/i/79483
10B Daily News – Tuesday, August 21, 2012 NEW YORK (AP) — Stocks slipped Monday in one of the quietest trading sessions of the year. Worries about Euro- pean debt crept up again, and Apple became the most valuable company of all time. The Dow Jones indus- trial average fell 3.56 points, or 0.3 percent, at Stocks slip, but Apple sets a record Wall Street 13,271.64. The Standard & Poor's 500 fell a sliver, 0.03 point, to 1,418.13. The Nasdaq composite index fell 0.38 point to 3,076.21. With many traders and investors on vacation, volume on the New York Stock Exchange was light, just 2.7 billion shares traded. The aver- age this year is about 1 billion more. In a monthly report, the German central bank reiterated doubts about having the European Central Bank buy bonds to help struggling Euro- pean economies. It stressed that such pur- chases could carry ''sub- stantial risks.'' sidelines, and they're still a little scared.'' Be prepared. Have your car AC serviced. repair, custom paint and matching 35 E7DH;57 EB75;3> "'//5 Auto repair and refinishing, glass +refrigerant, (134A) 530.527.6160 • 915 Madison St., Red Bluff Red Bluff Collision It's heating up outside. Earlier this month, stocks rallied after ECB President Mario Draghi said the bank might buy bonds of some European countries to lower their borrowing costs. German Chancellor Angela Merkel also seemed to soften her stance on the idea. ''We're getting mixed messages at best coming from Europe,'' said Jim Russell, chief equity strategist at U.S. Bank Wealth Management. ''Investors are on the Apple, the most valu- able company in the world, became the most valuable in history. It hit a market value of $623 billion, surpassing Microsoft's record from 1999. Apple is worth almost twice as much the next most valuable com- pany, Exxon Mobil. Apple stock rose $17.04, or 2.6 percent, to $665.15. Stocks had been inch- ing up for six weeks. On Friday, both the Dow and the S&P closed just below four-year highs. Monday's drop was the 11th trading day in a row of moves of less than 1 percent for the S&P, according to FactSet, a financial data provider. In same period last year, amid fears the U.S. would default on its debt and a possible second recession, the S&P moved up or down by 1 percent or more roughly every other day. Other stocks moving America Lives Here 529-2192 26 Sale Lane, Red Bluff, CA 96080 www.claytonredbluff.com 530 MON-FRI 9am-6pm SAT 9am-5pm OPEN We want and need your trade ins! Is your home old, you have negative equity, have you out grown your home? TRADE IT IN Let your trade be your down payment. Financing available for all credit, even if it is challenged Special A Retirement Community for the Active Senior Citizens EQUAL HOUSING OPPORTUNITY 750 David Avenue, Red Bluff • 527-9193 sharply Monday included Lowe's, the world's No. 2 home improvement store. It missed earnings expec- tations and lowered its outlook for the year. The stock fell 6 percent. The health insurer Aetna announced it would buy Coventry Health Care for $5.7 bil- lion as the insurance industry realigns itself to better navigate the health care overhaul. Aetna rose $2.14, or nearly 6 per- cent, to $40.18. Coventry climbed $7.10, or 20 per- cent, to $42.04. The deal follows the $4.46 billion buyout last month of another insurer by WellPoint Inc., and last year's acquisition worth nearly $4 billion by Cigna of HealthSpring as it grabbed for a share of Medicare revenue. Best Buy slid 10 per- cent after rejecting an offer from its founder and largest shareholder to take the electronics retailer private. The com- pany named Hubert Joly, the former head of global Rent Special $500 OFF first month rent! ◆ Warm & Friendly Staff ◆Recreational Programs ◆Scheduled Transportation ◆Private & Formal Dining Rooms ◆ Three Nutritious Meals Daily ◆ 24 Hour Secure Environment ◆ House Keeping Services ◆ Independent Living ◆ Private Apartments $ In the S&P 500, six of the 10 main industry groups fell, led by a 0.8 percent drop in telecom- munications stocks. In Europe, stocks fell. Greek stocks fell 2 per- cent. Spain's main index was off 1 percent. Investors are on edge this week because of a series of meetings among European leaders to discuss the debt crisis. The first came Monday when the Greek foreign minister met with his German counterpart in Berlin to discuss Greek spending cuts necessary for the country to contin- ue receiving bailout money. hospitality company Carlson and a turnaround expert, as CEO Monday. Facebook gained 96 cents, or 5 percent, to $20.01, following a slide last week after some insiders were able to sell stock for the first time since the company's pub- lic trading debut in May at an offering price of $38. Sierra Sound Car Audio 35th 226 So. Main St., Red Bluff 527-3735 All CD's 13.99 Anniversary Sale or less DAILYNEWS RED BLUFF TEHAMACOUNTY redbluffdailynews.com Subscribe Now! To get started, go to: www.redbluffdailynews.com/websubscribe