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Friday, April 16, 2010 – Daily News – 7A Stocks edge higher on mixed reports, UPS outlook NEW YORK (AP) — An encouraging earnings forecast from UPS and stronger manu- facturing figures gave the stock market its sixth straight advance. The gains Thursday were modest following a surprise increase in the number of newly laid off people seeking unemployment benefits. Analysts said a slowdown in the market’s upward push was overdue. The Dow Jones industrial average rose 21 points after racing higher by nearly 104 points on Wednes- day. The Dow closed above 11,000 Monday for the first time in a year and a half. Other major stock indexes also stand at their highest lev- els since 2008. The forecast from UPS raised hopes that the economy is strengthening. The compa- ny raised its full-year earnings forecast because of an increase in international ship- ping. As the world’s largest shipping company, UPS’s results are seen as an early indicator of overall business activity. cent. UPS shares rose 5.3 per- The UPS report and stronger manufacturing reports from the Federal Reserve helped to offset some of the concern about the jobs figures. The Labor Department reported that initial claims for unemployment benefits rose unexpectedly for a second straight week. First-time claims for jobless benefits rose by 24,000 to 484,000 last week, the highest level since late February. Economists polled by Thomson Reuters forecast a drop. The stock market has been churning steadily higher after major indexes hit 12-year lows in March last year. Growing expectations for a recovery have been driving the climb. The increases in the past two months have been more subdued, with fewer big moves. Charlie Smith, chief invest- ment officer at Fort Pitt Capi- tal in Pittsburgh, said the mar- ket’s more recent steady advance is welcome because it means investors aren’t getting overly optimistic. ‘‘We are seeing a straight line (higher) but there’s not a whole lot of exuberance to it,’’ he said. ‘‘There is a tremen- dous amount of skepticism about the market and that’s a good thing.’’ According to preliminary calculations, the Dow rose 21.46, or 0.2 percent, to 11,144.57, its highest close since Sept. 19, 2008. The Dow hasn’t risen six straight days since mid-March. The S&P 500 rose 1.02, or 0.1 percent, to 1,211.67, while the Nasdaq composite index rose 10.83, or 0.4 percent, to 2,515.69. Falling stocks narrowly outnumbered those that rose on the New York Stock Exchange, where volume came to 1.2 billion shares, compared with 1.1 billion Wednesday. Toyota conducts safety tests on all SUV models TOKYO (AP) — Toy- ota is testing all its sport utility vehicles to reas- sure buyers of their safe- ty after Consumer Reports warned a large Lexus SUV is suscepti- ble to rolling over. The testing covers the entire lineup of Toyota and Lexus SUVs, including popular mod- els such as the RAV4, the 4Runner and the Highlander, said Toyota spokesman Brian Lyons. The automaker will be testing the vehicles’ sta- bility control and aims to replicate the Con- sumer Reports’ test that first uncovered the prob- lem, he said. He was unaware how long the tests would take. Toyota is also sus- pending production of the Lexus SUV — the GX 460 — which is built in Tahara, Japan, for 12 days starting Fri- day. The move follows suspension of the vehi- cle’s sales earlier this week. Toyota has yet to decide whether it will recall the vehicle, a hefty seven-seat SUV sold mainly in North ●●●●●●●●●●●●●●●●●●● Come see us at the Children’s Fair on April 24th Recently expanded and moved near Bidwell Elementary License # 525405817 My qualifications include: B.A. in Elementary Education and experience teaching grades K-8. Accepting state pay programs & cash pay, etc. (530) 209-8743 ! EVENTS GUIDE COMMUNITY Get your button FREE at the Online 24/7 @ www.epageflip.net/issue/8501 D NEWSAILY RED BLUFF TEHAMACOUNTY 545 Diamond Ave. Red Bluff D NEWSAILY Exclusive Print Media Partner RED BLUFF TEHAMACOUNTY PRESENTS America but also in the Middle East, Russia and some other nations. how you feel about the place you call Home: Show our visitors April 30 - May 1 & 2 MARK YOUR CALENDARS!! Wow! What a Weekend!! Fri. 12-6 • Sat. 10-6 • Sun. 10-5 Shasta-Tehama Home & Garden Show is coming.... Joining 5 other major events Same Weekend - Same Fairgrounds ❁ 2nd Annual Shasta-Tehama Home & Garden Show (Fri-Sat-Sun) ❁ 39th Annual Arabian Horse Show (Fri-Sat-Sun) ❁ 49th Annual Flower Show (Sat-Sun) ❁ 8th Annual Alpaca Show (Sat-Sun) ❁ 11th Annual 4-H Fair (Sat) ❁ 6th Annual Cinco De Mayo Celebration (Sat) “It’s May Magic” NEW FOR THIS YEAR... Arts & Craft Exhibitors Free admission to all for the Home Show!!!!! Thanks to our friends at