Issue link: https://www.epageflip.net/i/93928
Friday, November 16, 2012 – Daily News Stocks close lower after weak retail reports Thursday, a third straight decline, after U.S. retailers issued weak forecasts for earnings and more people filed claims for unemployment benefits. Wal-Mart, Ross Stores and Limited Brands, the owner of Victoria's Secret, all fell after issuing fore- casts that disappointed financial analysts. Wal- Mart fell $2.59, or 3.6 per- cent, to $68.72. The Dow Jones indus- NEW YORK (AP) — Stock indexes closed lower trial average wavered between small gains and losses shortly after the opening bell, then moved lower at midmorning. It closed down 28.57 points at 12,542.38. Local Businesses! Attention Christmas Album and Wish List Magazine size supplement to the Tehama Country The Standard & Poor's 500 index dropped 2.17 points to 1,353.32 and the Nasdaq composite finished 9.87 points lower at 2,836.94. steadily since voters returned President Barack Obama and a divided Con- gress to power. The Dow has lost 5 percent from Election Day, Nov. 6. Investors are worried that U.S. leaders may not reach a deal before tax increases and government spending cuts take effect Jan. 1. The impact would total $700 billion for 2013 and could send the country back into recession. Bill Stone, chief investment strategist at PNC Asset Management Group in Philadelphia, said the bargaining in Washington would likely drag on until next year, weighing on stocks. ''It's hard to see the market getting a whole ton of traction until that gets settled.'' President Obama will meet with congressional lead- ers Friday to talk about the budget, but he appeared to suggest Thursday that he would insist on an increase in tax rates for the wealthy. T. Dale, a portfolio manager at Security Ballew Stocks have fallen Wealth Management in Jackson, Miss., said that stocks are more likely to fall than rise, partly because of slow- ing global economic growth and the U.S. budget impasse. ''The market has gotten well ahead of itself,'' Dale said. Superstorm Sandy drove the number of people seek- ing unemployment benefits up to 439,000 last week, the Labor Department reported. Applications for benefits rose 78,000, mostly because a large number were filed in storm-damaged states. The European Union's statistics agency confirmed that the euro zone, the group of 17 countries that use the euro currency, is in recession. The economy in the region shrank 0.1 percent in the third quarter from the previous three-month period. DAILYNEWS RED BLUFF TEHAMACOUNTY Saturday November 24 Weekend Edition Deadline for your space reservations and content materials Friday, November 16 Thank your loyal customers and welcome new ones! Remind local consumers of the breadth and diversity of local businesses and your offerings Modular Ad size: B/W Avail Full Color Eighth Page $70 Quarter Page $125 Half Page Full Page Back Page $600 Included $225 $400 +$14 +$25 +$45 +$80 RED BLUFF PLUS! Buy an ad, get an equal amount Or write a Holiday Greeting to your customers! Greeting-only space available at $70 or $125 of content space FREE! Double up your ad size, feature a photo of your staff, your business, DAILYNEWS 530 527-2151 TEHAMACOUNTY Gayla Eckels: geckels@redbluffdailynews.com Doris Hoagland: dhoagland@redbluffdailynews.com Suzy Noble: snoble@redbluffdailynews.com All that it takes for the out-of-town Big Box Stores to win is for local businesses to fail to pull together! 3B HURRY… Don't be left out!