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8B Daily News –Tuesday, November 27, 2012 Stocks end lower after a strong week Wall Street came back to work after the Thanksgiv- ing weekend and faced leftover worries about the ''fiscal cliff'' and the Euro- pean debt crisis. Stocks retreated after one of their best weeks of the year. The Dow Jones indus- NEW YORK (AP) — trial average fell 42.31 points to 12,967.37. The Standard & Poor's 500 index declined 2.86 to 1,406.29. And the Nasdaq composite index managed a 9.93-point increase to 2,976.78. Utility stocks rose the most, while telecommuni- cations companies fell the most. strategist at JPMorgan Funds, wrote in a note to clients. He expected a better read on the economy later this week, with reports on consumer confidence on Tuesday and unemploy- ment claims and third- quarter economic growth on Thursday. The major U.S. eco- nomic reports were not due until later in the week, leaving investors to rehash the European debt crisis and talks in Washington over the ''cliff'' of tax increases and government spending cuts set to take effect Jan. 1. ''The themes seem about as recycled as Thanksgiving turkey,'' David Kelly, chief global That made Monday a good day to cash out on last week's gains, Carmack said, especially because traders aren't sure how the fiscal cliff will affect the market for the rest of the year. ''Monday is a good day Scott Carmack, co-port- folio manager at Leader Capital in Portland, Ore., said the decline Monday was all but inevitable after last week, when the Dow climbed 3.3 percent because of encouraging signs from Washington and good economic news overseas. to take profits,'' Carmack said. ''No one was in on Friday, so they're doing it Monday.'' The National Retail Yahoo's shares touched $19 Mon- day, the first time they have traded that high in more than two and half years. SAN FRANCISCO (AP) — more money to debt-crip- pled Greece. The ministers have failed twice in the last two weeks to reach an agreement to release (euro) 44 billion, or $56.8 billion. In the U.S., though, Federation reported that 247 million shoppers visit- ed stores and shopping websites during the long Thanksgiving weekend, up 9 percent from a year ago. They spent an average of $423, up 6 percent. Some worry that the momentum won't last, and that deep discounting will hurt stores. Macy's fell $1.87, or 4.5 percent, to $39.86. Saks dropped 29 cents, or 2.8 percent, to The latest gains extend a rally that has been gaining momentum in recent weeks as Yahoo Inc. buys back its own stock and more investors bet on CEO Marissa Mayer's ability to turn around the long-struggling company. Mayer, a former top executive at Internet search leader Google Inc., became Yahoo's fifth CEO in less than a year when the compa- ny hired her in July. Since her arrival, Mayer has vowed to make Sunnyvale, Calif., company a bet- ter place to work, refine its online services and roll out more prod- ucts tailored for smartphones and tablet computers. Yahoo has also been trying to boost its stock price by spending most of money that it received $10.23. Target declined $1.71, or 2.6 percent ,to $62.77. curb spending before the year is over. was an exception, rising 21 cents to $44.61. The cliff cast a pall. A Abercrombie & Fitch government report released Monday warned that a sudden increase in taxes would crimp the spending of middle class families next year, and some analysts wondered whether families would from a recent deal to buy back its own shares. After taxes, the company pock- eted $4.3 billion by selling half its stake in Chinese Internet company Alibaba Group Ltd. Mayer has pledged to spend $3.6 billion buy- ing back Yahoo's stock, including $600 million that had gone toward share repurchases before the Alibaba deal closed in mid-Sep- tember. Yahoo had spent $212 million FAMILY CAREGIVER CONFERENCE FREE EVENT! Laughter for the Health of It by Roberta Gold, R.T.C. The Incredible Brain! Dodging Diseases by Melissa Jourdain, MS November 28th 9:00 am – 3:00 p.m. (lunch included) Gaia Hotel in Anderson www.CaregiverConference2012.eventbrite.com *Pre-registration required* Mountain Caregiver Resource Center of Passages www.MountainCRC.org ~ 800-995-0878 ALL INVENTORY MUST BE SOLD SAVE THOUSANDS OF DOLLARS CALL US TODAY TO FIND OUT ABOUT THE GREAT DEALS WE HAVE TO OFFER! The report, by President Barack Obama's National Economic Council and his Council of Economic Advisers, estimated that a married couple earning between $50,000 and $85,000 with two children would see a $2,200 increase in their taxes. In Europe, leaders of European Union countries tried to reach a deal to lend buying back 13 million shares from Oct. 1 through Nov. 8, according to a recent regulatory filing, with $928 million spent so far this year. ''Most of these uncertainties have been with us for quite some time,'' Sam Stovall, chief equity strategist at S&P Capital IQ, wrote in a note Monday, ''and are now regarded by many as annoy- ances to resolve rather than obstacles to fear.'' In the bond market, the yield on the 10-year U.S. Treasury note fell 2 per- centage points to 1.66 per- cent from late Friday. In other stock trading: — McGraw-Hill announced it would sell its education unit to a private equity firm. The compa- ny's stock rose 20 cents, or 0.4 percent, to $51.89. — Facebook stock jumped $1.94, or 8.1 per- cent, to $25.94 after a Bernstein analyst upgraded his rating of the company, predicting it will beat rev- enue expectations for the near future. Yahoo's stock hits $19 for 1st time since 2010 Since Mayer made the buy- back commitment, Yahoo's stock has climbed by nearly 20 percent. The shares hit $19 in Monday's early trading for the first time since April 2010. Goldman Sachs analyst Heath Terry believes Yahoo's stock will climb even higher, as more investor enthusiasm builds for Mayer's turnaround strategy and the value of the company's remaining holdings in Asian Internet companies becomes clearer. Besides retaining a 24 percent stake in Alibaba, Yahoo also owns 35 percent of Yahoo Japan. He also thinks Yahoo's stock will get a boost from future buybacks planned by Yahoo. 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