Issue link: https://www.epageflip.net/i/85154
6A Daily News – Saturday, September 29, 2012 Furniture Depot 527-1657 235 So. Main St. Red Bluff MON.-FRI. 9:00-6:00 SAT. 9:00-5:00 SUN. 11:00-5:00 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 (AP)—Stocks posted solid gains for the third quarter, although the ride got bumpy at the end. Stocks fell five days of the last six, including on Friday, the last trading day of the quarter. But the big indexes are still up 4 percent or more for the three months. They're ahead 10 percent or more for the year. That's despite all the anxiety about the euro, Iran and U.S. politics. Actually, those worries are exactly why stocks are up, said Uri Landesman, who runs the Platinum Part- ners hedge fund. He notes that investors around the world feel that U.S. stocks look pretty good, compared to some of the alternatives. ''People are scared, and Stocks seal 3Q gains despite bumpy final days Wall Street 2008 wasn't that long ago, and Europe remains a prob- lem,'' he said. Those factors ''are keeping the market up in the face of some really questionable economic data and questionable behavior by the Fed.'' Investors got some more of that iffy economic data on Friday. The Commerce Department said consumer spending rose a half-percent last month, compared with July. That was a big jump — but it was driven by high- er gas prices, rather than by spending on clothing, elec- tronics and general mer- chandise. Consumer spend- ing drives nearly 70 percent of economic activity. lower. The Dow Jones industrial average fell 48.84 points to close at 13,437.13. The Standard & Poor's 500 index fell 6.48 points to 1,440.67. The Nasdaq com- posite index fell 20.37 points to 3,116.23. The loss- es had been steeper in the morning before stocks recovered somewhat around midday. The news pushed stocks Stocks fell in all industry groups in the S&P 500 except utilities. Telecom- munications and informa- tion technology stocks had the biggest losses. Many investors worry that the recent gains by stocks aren't justified, con- sidering the risks of a con- frontation with Iran, weak corporate profits, and Europe's troubles. ''People are wrestling with that disconnect, and trying to choose which chess pieces to move in anticipation'' of whatever they think will happen next, said Lawrence Creatura, portfolio manager at Feder- ated Investors. ''It's been a good quar- ter,'' he said, ''but at least for the day we seem to be limp- ing across the finish line.'' Investors are still con- cerned about Spain's finan- cial health. The Bank of Spain released an audit Fri- day showing that seven of the country's banks failed stress tests. Moody's, the credit rating agency, is also expected to weigh in on Spain's creditworthiness, and there are concerns the government's rating will be cut to ''junk'' status. Stocks in Europe fell. K W I K K U T S Family Hair Salon $200 REGULAR HAIRCUT off with coupon Not good with other offers 1064 South Main St., Red Bluff • 529-3540 Reg. $13.95 Expires 9/30/12 Sierra Sound Car Audio 35th $ 226 So. Main St., Red Bluff 527-3735 All CD's 13.99 Anniversary Sale or less