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10B Daily News – Tuesday, October 9, 2012 Investors looked warily at forecasts for poor U.S. cor- porate earnings and weak- er growth in Asia and decided there wasn't much reason to buy stocks. The Dow Jones indus- NEWYORK (AP) — Stocks lower on weak outlook for 3Q, Asian economy Wall Street trial average gave up 26.50 points to close at 13,583.65 points Monday. The Stan- dard & Poor's 500 index fell 5.05 points to 1,455.88 and the Nasdaq composite lost 23.84 points to 3,112.35. 500 index are expected to post an overall decline in Companies in the S&P profits for the first time in 11 quarters, according to FactSet. The third-quarter earnings season starts on Tuesday when aluminum maker Alcoa releases its results. Tuesday also marks the five-year anniversary of the record high closes of the Dow and the S&P 500. The S&P, a benchmark tracked by many mutual funds, is currently about 7 percent below its record high. The Dow is about 4 percent below its peak. Stocks have been on a strong run, with the Dow up 11 percent this year, the S&P 500 nearly 16 per- cent. But Asia's slowdown, Europe's problems, and now forecasts of weak U.S. corporate earnings have caused some investors to wonder whether the stock market has risen too far, too fast. Partners LLC. ''It sort of leads folks into thinking, 'Why don't I take a little bit of profit off the table, put it away,''' and maybe re-invest it if third- quarter results turn out to be higher than expected, he said. On top of those con- cerns, some market leaders like Apple have been falling in recent days, noted Bob Pavlik, chief market strategist at Banyan Apple closed above $700 on Sept. 18, but has been declining since then. On Monday it fell $14.42 to $638.17. World Bank warned that a ''more pronounced slow- down'' is possible in China, the world's second- largest economy. It also cut its overall growth forecast for developing countries in Asia. Also on Monday, the Red Bluff-Tehama County Chamber of Commerce Hosts Red Bluff City Council Candidates Forum @ Red Bluff Veteran's Memorial Hall Corner Oak & Jackson Street Tuesday, Oct. 9th 7-9 PM ★ Open to candidates for Red Bluff City Council exclusively. ★ All registered candidates for City Council are invited to participate. ★ No charge for admission and reservations are not required. Early arrival suggested. ★ Candidate question cards & refreshments available at 6:00 pm. ★ Lisa Hansen, Chair, Red Bluff-Tehama County Chamber of Commerce Board opening and closing comments ★ Greg Stevens, Chamber Immediate Past Chair publisher of the Red Bluff Daily News, will moderate the forum. ★ Each candidate will be given two minutes to make opening remarks. ★ Pre-screened written questions will be taken from the floor and directed to all candidates. Candidates will have a maximum of five questions. ★ Screeners reserve the right to determine whether a question is appropriate. ★ Public advised that screeners will select questions at their discretion. ★ A two-minute concluding remarks from each candidate will conclude forum. ★ Limited table space is provided for each candidate's campaign information. Published though a sponsorship agreement with theDAILYNEWS RED BLUFF TEHAMACOUNTY NEW & USED SALES • PROFESSIONAL SERVICE • QUALITY PARTS 1160 Main Street, Red Bluff www.expresspros.com 530-527-0727 243 So. Main Street 0% APR for We aim to please up to 72 MONTHS for qualified buyers On select new models GIBBS NOW OFFERS RENTAL CARS M-F 8AM-5PM Slower growth in Asia could drag down the U.S. economy. One of the few bright points for the U.S. during the recession was tremendous growth in export demand by develop- ing nations in Asia and other regions. my isn't doing badly, investors have been count- ing on growth in Asia for help, said Rex Macey, chief investment officer at Wilmington Trust Invest- ment Advisors. ''There was a point where we said 'Thank goodness for Asia and China. Their growth can fuel the recovery.'' That's not so clear any- more, he said. While the U.S. econo- Stocks and industries that depend most heavily on U.S. economic growth were among the biggest losers Monday. Intel fell 17 cents to $22.51. Home Depot fell $1.32 to $61.88 and Walt Disney lost 64 cents to $52.33. Wal-Mart Stores and HAD A SMASHING WEEK? WE WILL GIBBS 527-2649 780 EAST AVE. (behind Food Maxx) STRAIGHTEN IT OUT. Voted BEST in Tehama County all 7 years 2006~2012 GROWNEY MOTORS 530-527-1034 AUTO BODY REPAIR maker Navistar rose $1.60, or 8 percent, to $22.81 after saying it will add two board members associated with activist investors, heading off a proxy battle. American Express shares didn't move much after they announced a reload- able prepaid card with no recurring or overdraft fees. But the news hammered shares of prepaid card competitor Green Dot Corp., which has also offered a card with Wal- Mart. Green Dot fell $2.60, or 20 percent, to $10.25. UnitedHealth Group rose 47 cents to $57.60 after the health insurer said it would pay $4.9 billion in cash to buy most of Brazil- ian health benefits and hos- pital services provider Amil Participacoes. Truck and engine European markets also closed lower. France's CAC-40 fell 1.5 percent, Germany's DAX fell 1.4 percent and Britain's FTSE 100 lost 0.5 percent. U.S. government bond trading was closed for the Columbus Day holiday. Sierra Sound Car Audio 35th $ 226 So. Main St., Red Bluff 527-3735 All CD's 13.99 900 Senior Special $ Street Barber Shop Oak 527-8111 • 335 Oak St. Next door to the State Theatre Respecting People. Impacting Business Call us. And get back to work. Call us any time for: • An extensive network of recruiting sources • HR expertise and support services • Temporary Workers • Evaluation hire • Testing and training • Experienced recruiters • Full-time employees • Carefully screened candidates • Dedicated service Anniversary Sale or less