Issue link: https://www.epageflip.net/i/98917
12B Daily News ��� Friday, December 14, 2012 Stocks lower as investors watch Washington NEW YORK (AP) ��� Stocks sank most of the day Thursday after more signs of tension emerged in federal budget talks. They recovered some of the loss after a late report that President Barack Obama and the House speaker would meet. The Dow Jones industrial average finished down 74.73 points, or 0.6 percent, to 13,170.72. House Speaker John Boehner, speaking to reporters in Washington Wall Street before noon, said that the White House was so resistant to cutting government spending that it risked pushing the country off the ������fiscal cliff.������ The ������cliff������ is tax increases and government spending cuts that take effect Jan. 1 unless Congress and the White House reach a deal to avert them. Economists have warned that the tax increases and spending cuts could eventually lead to a recession. Shortly after Boehner spoke, Obama told reporters that a deal was ������still a work in progress.������ Asked about Boehner���s assertion that he was waiting to hear more from the president, Obama said only, ������Merry Christmas.������ The Dow drifted lower all day and was down 98 points at its low, just after 3 p.m. EST. Then the Obama administration said that the president and Boehner would meet later Thursday at the White House. Stocks still finished in the red. The Standard & Poor���s 500 index dropped 9.03 points, or 0.6 percent, to 1,419.45. It was the first loss for the S&P in six days, tying its longest winning streak since early August. The Nasdaq composite index dropped 21.65 points to 2,992.16. The decline in stocks came despite the fourth straight weekly drop in applications for unemployment benefits. Applications fell 29,000 last week to 343,000, the second-lowest this year, the Labor Department reported. Energy, health care and technology stocks fell the most, and consumer staples stocks were down only slightly. All 10 categories of stock in the S&P 500 index finished lower. Best Buy shot up $1.94, or 16 percent, to $14.12 after a newspaper reported that the founder of the troubled electronics chain will make a bid of up to $6 billion for the company by the end of the week. CVS Caremark climbed 96 cents, or 2 percent, to $48.50 after issuing a profit prediction for next year that was ahead of Wall Street expectations. The company also raised its dividend. GROWNEY MOTORS Welcome to Para mas informacion en Espa��ol, Llame Alex Serving the North State Since 1922 (530) 527-1034 1160 MAIN ST., RED BLUFF 0% APR for 72 MONTHS up to We Aim To Please for qualified buyers On select new models BUICK www.geogrowney.com SOME OF THE GREAT DEALS AT OUR USED CAR CORRAL 2001 BUICK LeSABRE SEDAN V6, GREAT TRANSPORTATION GOOD BUY! #148871 2007 BUICK LUCERNE 2006 CHEVY MALIBU $4,677 V6, SPOILER, AT, AC, CD, 4 CYL., GAS SAVER, PRIOR RENTAL. #270911 2008 CHEVY IMPALA 2006 CHEVY EX CAB 4X4 V6, SUPER BUY, SPOILER, P/WHEELS. #267251 NICELY EQUIP. ROAD MILES, IN GREAT SHAPE! #162022 $10,667 2004 CHEVY MONTE CARLO LOW MILES! SHARP. #207303 COOL DEAL COOL DEAL COOL DEAL $8,777 $7,997 LEATHER, NORTHSTAR V8, WHAT A GREAT BUY. #100548 $9,787 $13,387 2008 VW BUG 2010 HONDA CIVIC LEATHER, LOW MILES, 5 SPD. THIS CAR IS IN MINT COND. #513527 COMMUTER SPECIAL. #546743 $11,677 $14,995 2004 GMC YUKON 4X4 2004 GMC YUKON 2006 JEEP UNLIMITED 4X4 3RD SEAT, R/AC, BIG WHEELS & TIRES. #158118 NICE & SHARP REAR AC, 7 PASS, BIG WHEELS & TIRES. #212855 A/T, LOW, LOW MILES. #761371. $11,667 $10,887 $17,367 ALL PRICES PLUS SALES TAX, LICENSE FEES, DOC FEES, ANY FINANCE CHARGE, ANY DEALER PREPARATION CHARGE, ANY EMISSION CHARGE, ANY DOCUMENTATION PREPARATION CHARGE, ANY SMOG FEES AND ANY TIRE FEES. ALL VEHICLES SUBJECT TO PRIOR SALE & CREDIT APPROVAL. SALE EXPIRES DEC. 20, 2012