Issue link: https://www.epageflip.net/i/89341
10B Daily News – Tuesday, October 23, 2012 NEW YORK (AP) — The stock market is wait- ing for the presidential election as much as any- one. Market waits for election; earnings disappoint Wall Street The U.S. stock market struggled for direction Monday. All three major indexes waffled between gains and losses before closing slightly higher. Investors were under- whelmed by earnings reports from toymaker Hasbro, clothing maker VF Corp., regional bank SunTrust and other compa- nies. The overhang of the presidential election in two weeks didn't help. Investors are wary of mak- ing big moves before they know who's going to be the next president. November 3, 2012 Rolling Hills Casino, Luncheon & Boutique Saturday, Cattle Women's Fashion Show, COMPLETE AUTO REPAIR recommened 30K, 60K, 90K SERVICES AT LOWER PRICES All makes and models. We perform dealer Corning Reservations by October 26th Tickets $ 529-9679 to 28.00 Smog Check starting at$ (MOST CARS & PICK-UPS) 527-9841 • 195 S. Main St. +$ 825 certificate 2595 playing field before they get out there and play,'' said Jeff Savage, regional chief investment officer for Wells Fargo Private Bank in Portland, Oregon. David Katz, principal and senior portfolio strate- gist at WeiserMazars Wealth Advisors in New York, said it matters more that the election is wrapped up than who is elected. ''One could say the ''They need to know the markets will rally stronger if the Republican candi- date becomes president,'' Katz said. ''But one way or another, the markets will have direction, and the markets like direction.'' trial average ended virtual- ly flat. It inched up 2.38 points, or 0.02 percent, to close at 13,345.89. A late rise erased a 108-point deficit in the Dow. The Dow Jones indus- 500 index was also little changed, edging up 0.62 point to 1,433.81. The Nasdaq composite index rose 11.34 to 3,016.96. Besides the election, an economic report due Fri- day also has the markets in a holding pattern. That's when the government is supposed to report how much the U.S. economy grew in the third quarter. But already, company reports are signaling that consumers, who drive the bulk of economic growth, The Standard & Poor's FOR JUNK CARS CASH Auto Recycling Inc., Corning CA. www.allstarautorecycling.com All Star 824-2880 527-8111 • 335 Oak St. Next door to the State Theatre are far from healed. Hasbro, the toymaker behind brands like My Lit- tle Pony and Transformers, said that sales for boys' products and preschool toys weakened. The stock slipped 66 cents to $38.39. Clothing maker VF Corp., whose brands include Timberland and Wrangler, missed analysts' revenue estimates. The stock slid $7.31, hitting $159.46. SunTrust Banks also slipped. Its third-quarter earnings jumped, but that was largely because the bank sold shares it owned in Coca-Cola. The Atlanta- based bank wrestled with higher expenses as well as low interest rates, which can crimp the profit banks Senior Special $ 900 Street Barber Shop Oak make from lending out money. The stock lost 96 cents to $27.67. that it expects lower profit and revenue for the rest of the year. Last week, Microsoft, General Electric and McDonald's also reported third-quarter results that disappointed the market. To be fair, most compa- nies are reporting better- than-expected profits. But investors want to know how companies are faring on revenue. Revenue can give a more accurate pic- ture of how a company is performing, because prof- its can vary widely on items like accounting charges and cost-cutting. Katz described compa- nies' third-quarter revenue results as ''fair'' and said the U.S. economy is ''slow and steady.'' ''It is at a snail's pace,'' pillar, the world's largest construction and mining equipment company, gained $1.22 to $85.08. But the company warned Shares rose for Cater- he said. ''But it's certainly better than what we had.'' In other trading, the yield on the 10-year Trea- sury note rose to 1.81 per- cent from 1.76 percent late Friday. The euro was worth $1.3045, up slightly from Friday. Energy prices fell. Crude oil lost $1.32 to $88.73 a barrel. MOULE'S TEHAMA COUNTY GLASS SIDEVIEW for all makes & models MIRRORS Installed 515 Sycamore St., Red Bluff • 529-0260 Complete Autobody Repair INTERCITY BODY & PAINT Factory Trained Specialists In: • Painting • Fiberglass Repair • Exotic Metals • Color Matching • Frame Repair • Spray-In Bedliners • All Auto Manufacturers • Rental Cars Available We accept all Insurance Carriers 530 529-2040 1355 Vista Way, Red Bluff MON.-FRI. 8AM-6PM SAT. 8AM-5PM TEHAMA COUNTY EASY CREDIT! VOTED BEST TIRE DEALER IN RED BLUFF 614 WALNUT ST. 530-529-1612 CORNING 1723 SOLANO ST. 530-824-4929 AUTO TIRES • WHEELS • BRAKES • ALIGNMENT • A/C • AUTO REPAIR • & AND MORE CENTER CARE