Issue link: https://www.epageflip.net/i/9523
8A – Daily News – Friday, April 23, 2010 NEW YORK (AP) — The stock market recovered from early losses and closed modestly higher Thursday after President Barack Obama’s speech on finan- cial reform contained no unpleasant surprises. The Dow Jones industri- al average rose about 9 points after being down about 108. Broader indexes also turned higher. Stocks recover after Obama speech, home sales data Wall Street The market fell sharply early in the day as Greece’s debt problems worsened and on fears that Obama would advocate tough restrictions on banks. When he didn’t, stocks recovered. Prices also got a boost from a jump in sales of existing homes last month. In a speech in New York, Obama said the economy is recovering quickly but the progress needs to be felt more deeply among the millions of unemployed Americans. He has blamed Wall Street for helping push the country into recession. Obama gave a speech in support of his efforts to pass legislation that would over- haul financial markets. The Senate could debate the financial overhaul bill next week. The House has already passed its own ver- sion. Investors were rattled early in the day by news about Greece. The coun- try’s borrowing costs surged again when Europe’s statis- tics agency found that Greece’s budget deficit last year was even larger than previously thought. The findings pushed Greece closer to tapping loans from 15 European countries and the International Monetary Fund. Moody’s Investor Services downgraded Greece’s debt and said more downgrades could be com- ing. Investors sent home- The Southtown Strummers Sunday May 2 2:00pm State Theatre ★ ONE SHOW ONLY! ★ Sing-Along Songsheets Provided ★ Banjo Band Instrumentals ★ Tin Pan Alley Tunes Benefiting St. Elizabeth Community Hospital Auxiliary Sponsored by: St. Elizabeth Community Hospital A member of CHW MCGLYNN MCGLYNN & BOTTKE Attorneys at Law D NEWSAILY RED BLUFF TEHAMACOUNTY E License #759609 Comfort Inn 90 Sale Lane , Red Bluff Embroidery Mart American Dennis & Jeannie Garton State Theatre For The Arts Red Bluff Katrina Perdue D.M.D. General Dentistry Red Bluff builder stocks higher after the National Association of Realtors said sales of existing homes rose 6.8 percent last month after falling 0.8 percent in Feb- ruary. Sales of previously occupied homes had been ●●●●●●●●●●●●●●●●●●● $6.00 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 expected to rise 5.2 per- cent, according to Thom- son Reuters. Stocks have been climb- ing steadily over the past 13 months, and the gains in the past two months have come with very few breaks. Many analysts have been expect- ing a break in the market’s ascent, which would be in keeping with historical pat- terns. As occurred Thurs- day, most recent drops have faded quickly as buyers step in. The Dow rose 9.37, or 0.1 percent, to 11,134.29. The Standard & Poor’s 500 index rose 2.73, or 0.2 per- cent, to 1,208.67, while the Nasdaq composite index rose 14.46, or 0.6 percent, to 2,519.07. Bond prices fell, lifting yields. The yield on the Hair Cuts I fix ! Barber Shop New extended hours 8:30am - 6pm Mon-Fri 8am - Noon Saturday Oak Street Tues-Sat 9:30-5:30 Every 6th Hair Cut FREE 527-8111 • 335 Oak St. Next door to the State Theatre (Customer parking in Winchell’s parking lot.) A Unique Children’s Boutique Closed 905 Walnut St., Red Bluff twopeasinapod@aol.com Bring in this ad for 10% off 528-1698 Sun.-Mon benchmark 10-year Trea- sury note rose to 3.78 per- cent from 3.74 percent late Wednesday. The dollar rose against other major currencies, while gold fell. Crude oil rose 2 cents to $83.70 per barrel on the New York Mercantile Exchange. Two stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume came to 6 billion shares compared with 5.7 billion Wednesday. The Russell 2000 index of smaller companies rose 8.12, or 1.1 percent, to 734.31. Britain’s FTSE 100 dropped 1 percent, Ger- many’s DAX index fell 1 percent, and France’s CAC- 40 fell 1.3 percent. Japan’s Nikkei stock average fell 1.3 percent. C M R O J T A V L E E C I