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10B Daily News – Saturday, September 15, 2012 Furniture Depot 527-1657 235 So. Main St. Red Bluff NEW YORK (AP) — The stock market rose again Friday because of economic help from the Federal Reserve. But even some of the buyers weren't believers. The Dow Jones industri- al average hit its highest close since of December 2007, the start of the Great Recession. The Russell 2000 index of smaller com- panies briefly traded above its all-time closing high. Markets rallied around the world in places where traders were getting their first chance to react to the Fed announcement: Stocks climbed more than 2 per- cent in India and France and almost 2 percent in Japan and Germany. Apple, the most valuable company in American his- tory, blew through its own all-time high and neared $700 per share as it started taking orders for the iPhone 5. MON.-FRI. 9:00-6:00 SAT. 9:00-5:00 SUN. 11:00-5:00 with the market rising, plenty of investors were unconvinced. They bought stock, but they also worried that the Fed can't do much to fix the economy and pre- dicted that the stock market gains would be short-lived. Tyler Vernon, chief investment officer of Bilt- more Capital in Princeton, N.J., wanted to capitalize on the market euphoria while he could. That the Fed is still taking such aggressive steps to boost the economy, four years after the financial crisis, doesn't give him much comfort. The gains came on top of a 206-point climb for the Dow on Thursday, when the Fed laid out additional plans to try to energize the economy, including buying $40 billion a month in mortgage bonds for as long as necessary. But a day later, even ''like the morphine being pumped into the patient. It keeps the patient walking and talking.'' The Dow rose as much as 113 points Friday before pulling back. It ended up 53.51 points to 13,593.37. It is a 4 percent rally away from its all-time high of 14,164, reached Oct. 9, 2007. The Fed, Vernon said, is Furniture Depot is giving away Free Furniture! you'll receive a FREE $250 gift certificate good toward anything in our store! With any purchase of $1,000 or more, Certificate Gift Stocks higher for 2nd day after Fed action Wall Street which has been trading at the highest levels since 2000, climbed 28.12 to 3,183.95. The Russell, which tracks 2,000 stocks with market values below $5 bil- lion, closed at 854.70, a hair under its all-time high of 865.29 on April 29, 2011. Because the index contains small companies, it is seen as a gauge of investors' risk tolerance. Thursday, the Fed extended its pledge of super-low short-term interest rates into 2015, from its previous target of 2014. Its plan to buy mortgage bonds is part of a strategy known as quantitative In the steps it laid out designed to get people and businesses to borrow and spend, and to raise stock prices. To be sure, investors can easing, find other reasons to buy besides the Fed action. Cor- porate profits are high, and stocks are not expensive by historical standards when compared to earnings. The psychological The Standard & Poor's 500 rose 5.78 to 1,465.77, almost exactly 1,000 points below its all-time high. The Nasdaq composite index, effect of the Fed's action is important for the econo- my as well: If the Fed weren't buttressing the stock market and the Dow were thousands of points lower, consumers would feel less wealthy and cut spending. September 21st thru September 30th Open Mon-Sat 8-5, Sun 10-4 Annual Fall Plant Sale Wyntour Gardens 40% Off ALL PLANTS Limited to stock on hand. Not good with any other offer. No returns, exchanges or guarantees on sale items. Planted containers not included. from 1-gallon to our largest trees! ALL SALES FINAL "Fall is for Planting" 8026 Airport Road, Redding I-5 North, Exit #637, Rt. on Knighton, Rt on Airport WYNTOUR GARDENS 365-2256 Located 1 mile south of the Airport (Next to Kents Mkt) Open Mon-Sat 8-5 & Sunday's 10-4 wyntourgardens.com Facebook everyone convinced that the Fed's moves will make much difference in the end. But that didn't have Jeff Sica, president and chief investment officer of SICA Wealth Management in Morristown, N.J., was underwhelmed by the Fed's DAILYNEWS in Discount Coupons were published last week in the $ 11 00 $ RED BLUFF TEHAMACOUNTY offering percentage discounts, two-for-ones and Free-with-Purchase offers! … And that does not count all the ads Don't miss a day of it! Subscribe Today 527-2151 It pays for itself. 00 commitment to keep inter- est rates low. Short-term interest rates have been near zero for years, he noted. ''How many times can you refinance your house?'' Sica said. Red Bluff Garden Club Is Brewing Up "A Bewitching Affair" Program & Luncheon Featuring Floral Design House of Design Sat., Oct. 27, 2012 Carlino's Event Ctr., Rolling Hills Casino Kate Gleim Reserved Tickets $25.00 Last date to purchase is October 16, 2012 Tickets: Kathy 527-9403 Diane 824-5661 House of Design 909 Jefferson St. Red Bluff