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10B Daily News – Tuesday, November 13, 2012 NEW YORK (AP)— U.S. stocks turned posi- tive Monday afternoon, in a day of uneven trad- ing plagued by investors' fears about the approach- ing ''fiscal cliff.'' The Dow Jones indus- trial average was up 42 points at 12,857 as of 1:20 p.m. Eastern time. It had been slightly lower for most of the day before turning decisively positive around 1 p.m. The Standard & Poor's Stocks rise in uneven trading; fiscal threat looms Wall Street cent, then you'd see'' a reason to buy. 500 index rose five points to 1,384. The Nasdaq composite added 12 to 2,916. Trading was light. The federal government and the U.S. bond market were closed for Veterans Day, and there were no economic reports sched- uled for release. The fiscal cliff refers to government spending cuts and tax increases that are scheduled to kick in at the beginning of the new year, unless a divid- ed Congress and the White House can work out a compromise before then. the uncertain moves were nearly inevitable because there has been no strong- ly positive or negative news about the economy or the possibility of a deal to avoid the fiscal cliff. ''Nothing good is going on,'' said Scott Freeze, president of Street One Financial in Huntingdon Valley, Pa. ''Everything forward- looking remains dreary.'' Last week, after voters returned a long-dead- locked divided govern- ment to Washington, the Dow dropped 434 points in two days and had one of its worst weeks of the year. Even if lawmakers SPECIAL Move in by the 1st of the month Pay 4 months rent 650 Main St., Red Bluff Get 5th month FREE! Tues.-Fri. 10:30-5:30 530 528-2723 Some traders thought WebbersCrafts & More VENDOR MOVE IN work out a compromise, as they usually do, the political fight until then is sure keep investors on edge, pitching the stock market back and forth until it's resolved. Econ- omists say the cliff could cost the economy $800 billion and 3 million jobs and would plunge the K W I K K U T S Family Hair Salon Sat. 11-3 • Closed Sun. & Mon. $200 REGULAR HAIRCUT off with coupon Not good with other offers 1064 South Main St., Red Bluff • 529-3540 Reg. $13.95 Expires 11/30/12 U.S. back into recession. President Barack Obama, a Democrat, and House Speaker John Boehner, a Republican, have spoken of compro- mise but appear to be tak- ing firm stances on some issues. Obama will meet with labor representa- tives as well as other pro- gressive groups Tuesday. He'll hold separate meet- ings with the business community Wednesday. The effect on the mar- report on the country. Greece is hoping the other euro countries will give it another $40 bil- lion in bailout loans. The budget and the report are crucial steps toward that goal. kets has been wide- spread. Fiscal cliff wor- ries were blamed for keeping a lid on Euro- pean markets and Asian markets, which closed mostly lower. In Greece, lawmakers passed a new austerity budget, and the other countries that use the euro issued a positive www.claytonredbluff.com 26 Sale Lane, Red Bluff, CA 96080 916-371-2200 OPEN MON-FRI 9 am - 6 pm SAT 9 am - 5 pm isn't a sure thing: Some of the potential lenders must seek approval from their parliaments. Greece's main stock mar- ket index closed down 3.6 percent. Freeze was among the underwhelmed. ''At this point, all the Greek news is just noise,'' he said. ''None of these bailouts really solve the underly- ing problem. Now if all of a sudden Spain became incredibly sol- vent and its unemploy- ment rate went to 5 per- Still, the new bailout Across Europe, there were other reminders that the debt crisis is far from solved. The Banking Association of Spain, a country where hundreds of thousands of borrowers have fallen behind on their mortgages, said it would curb evictions of some struggling homeowners. In Portugal, demonstrators planned protests against a scheduled visit from Ger- man Chancellor Angela Merkel. Germany helped bail out Portugal last year and insisted that the gov- ernment there cut spend- ing as a condition of get- ting the money, a sore point for some in Portu- gal. Among U.S. stocks making big moves: — Leucadia National announced it would buy the investment banking firm Jefferies Group. The Jefferies chief will run the combined company. Leu- cadia, a holding company with investments in an eclectic set of industries including beef processing and medical products, dropped nearly 5 percent, $1.01, to $20.79. Jefferies soared 12 percent, or $1.71, to $15.98. — Sherwin-Williams, the paint company, jumped 7 percent after announcing it will buy Consorcio Comex, a pri- vately held rival based in Mexico City. Its stock rose $9.86 to $150.70. — Best Buy leapt after 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 announcing it had named a new finance chief, a former executive of the upscale kitchen store Williams-Sonoma. Ana- lysts hope the new num- bers cruncher can help turn around a chain that has struggled to keep up with online competitors. 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