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8B Daily News– Wednesday, September 12, 2012 Investors spent Tuesday preparing for two events sure to move markets this week: a Federal Reserve meeting and a court deci- sion on whether Germany can help support its strug- gling neighbors. And if the stock market's gains Tues- day are any sign, they expect both events to turn out well. The Dow Jones indus- NEW YORK (AP) — trial average rose 69.07 points to close at 13,323.36. The average of 30 large company stocks has already gained 1.8 per- cent to start September, a month which is usually dismal for stocks. US stocks rise ahead of Fed meeting Wall Street expected to rule on whether the country can participate in a European bailout fund. The court rejected a last-minute appeal to delay the deci- sion on Tuesday. ''It's going to get inter- esting this week,'' said Randy Frederick, manag- ing director of active trad- ing and derivatives at the brokerage Charles Schwab. A profit warning from luxury clothing chain Burberry helped tug down other high-end retailers in early trading. Burberry said slowing sales to China will likely weaken earn- ings. Ralph Lauren lost $4.09 to $156.22. Tiffany & Co. sank 78 cents to $62.26. Bank of America led the 30 stocks in the Dow, rising 5 percent, or 45 cents, to $9.03. Federal Reserve offi- cials will gather for a two- day meeting on Wednes- day. Many expect the Fed will announce a new effort to revive the sluggish econ- omy Thursday afternoon. On the same day the Fed starts its meeting, Ger- many's high court is Frederick expects the Fed will make some sort of move, especially after the government reported last Friday that employers added fewer than 100,000 jobs in August. ''Prior to the employ- ment report people weren't as sure,'' Frederick said. ''I am definitely on the major- ity side here. There's some sort of easing coming.'' In other trading, the Standard & Poor's 500 index rose 4.48 points to 1,433.56. The Nasdaq composite increased 0.51 of a point to 3,104.53. The assumption that the Fed will announce new stimulus measures is so widespread that some worry the market could take a plunge if the Fed fails to deliver. Ron Florance, manag- ing director of investment strategy at Wells Fargo Pri- vate Bank in Scottsdale, Ariz., said he's always wary when stocks rise on nothing more than expec- tations. ''These are the things that make you nervous, when markets are going strong in anticipation of news,'' Florance said. On Tuesday, the Com- merce Department report- ed that exports to Europe dropped 11.7 percent in July, stoking concerns that Europe's troubles could smother the U.S. recovery. Overall U.S. exports fell 1 percent to $183.3 billion, lowered by weaker sales of autos, telecom equipment and heavy machinery. Morgan Stanley and Citigroup rose after the two banks settled a dispute over how much to value their jointly owned broker- age firm, Morgan Stanley Smith Barney. The deal cleared the way for Mor- gan Stanley to buy Citi- group's stake. Citi gained 83 cents to $32.66. Mor- gan Stanley rose 64 cents to $17.25. Among other stocks making moves: — Legg Mason jumped 5 percent following reports that its CEO will step down Oct. 1. Clients have been pulling money out of the money manager's funds, weakening revenue. Legg Mason's stock surged $1.38 to $26.85. — Hewlett-Packard gained 52 cents to $17.95, a 3 percent gain. The computer and printer maker said late Monday that it will cut 29,000 jobs by October 2014, or 2,000 more than it had previously planned. Sales of personal computers have slumped as people favor smartphones and lightweight tablet com- puters. Zuckerberg says Facebook has overcome hurdles Facebook CEO Mark Zucker- berg, acknowledging concerns about his company's stock perfor- mance, said Tuesday that Face- book has survived troubles before. SAN FRANCISCO (AP) — rocky initial public offering in May. Facebook Inc.'s stock has lost half its value since the IPO. Zuckerberg said the drop ''has He spoke to a standing-room- only audience at a tech confer- ence in San Francisco in his first interview since the company's is the first up and down we have ever had.'' obviously been disappointing,'' but he said it's a great time to ''double down'' on the company's future. ''Facebook has not been an uncontroversial company,'' Zuckerberg said. ''It's not like this Among other things, Facebook Inc. has repeatedly faced criticism and user rebellion over its policies and practices affecting data priva- cy. co Disrupt conference organized by technology blog TechCrunch. After he began speaking, Face- Wearing a gray T-shirt, jeans and sneakers, Zuckerberg appeared Tuesday in a half-hour ''fireside chat'' at the San Francis- Sierra Pacific Industries Announces Land Closure in Fire Areas Sierra Pacific Industries has closed the entire areas affected by the Ponderosa and Bagley Fires to the public until further notice. The Ponderosa Fire in Tehama and Shasta Counties, including the area between the communities of Shingletown, Viola, Manton and Mineral is closed to the public. The Bagley Fire in Shasta County, near Big Bend, is also closed to the public. Sierra Pacific Industries is committed to being good stewards of the land. Timber salvage and rehabilitation of burned areas will begin soon. Due to the increase in equipment traffic, and the dangerous potential for falling snags, we are posting these areas with No Trespassing signs. Your cooperation is appreciated and we will let you know once these areas are reopened to the public. 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