NEW YORK - Wall Street began the week with a strong start Monday as better-than-expected profits at Citigroup Inc. and a healthy increase in consumer spending renewed investors' optimism about the economy. Earnings reports begin arriving at a steady clip this week, giving investors fresh indications about companies and the overall economy. Investors were pleased by news of a buyout of SLM Corp., the student lender better known as Sallie Mae. SLM agreed to be sold to two private investment funds and J.P. Morgan Chase & Co. and Bank of America Corp. for $25 billion, or $60 per share. The Dow Jones industrial average rose 108.33, or 0.86 percent, to 12,720.46. The Standard & Poor's 500 index rose 15.62, or 1.08 percent, to 1,468.47, a six-and-a-half-year high. The Nasdaq composite index rose 26.39, or 1.06 percent, to 2,518.33. Bonds advanced, with the yield on the benchmark 10-year Treasury note falling to 4.74 percent from 4.77 percent late Friday. The dollar traded near all-time lows versus the euro, and was mostly lower against other major currencies. Oil prices fell Monday, with a barrel of light sweet crude settling down 2 cents at $63.61 on the New York Mercantile Exchange. Gold prices rose. Advancing issues outnumbered decliners by more than 2 to 1 on the New York Stock Exchange, where volume came to 1.55 billion shares compared with 1.41 billion shares traded Friday. The Russell 2000 index of smaller companies rose 12.06, or 1.47 percent, to 831.44.
Verizon donates to BPD, Crisis Center
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BRISTOL, Va. - In an effort to continue domestic violence education and prevention in the Bristol and Tri-Cities area, Verizon Wireless will donate $1,000 to the Bristol Police Department's Domestic Violence Unit and The Crisis Center Inc., a nonprofit organization that enables the citizens of Southwest Virginia and Northeast Tennessee to cope with crises including domestic abuse. Leaders from the BPD and The Crisis Center will visit the new Verizon Wireless retail store, located at 5 Clear Creek Road, to accept a check today at 4 p.m. in conjunction with a ribbon-cutting ceremony. "Domestic abuse can be devastating to both adults and children, and our goal is to serve as an ally for victims in the Bristol community," said Jeanette Loudy with the BPD's Domestic Violence Unit. "Verizon Wireless' dedication to domestic violence prevention, and the financial contribution they are making today to our organization, will help us continue to provide necessary services to victims in our area." Verizon Wireless' commitment to fighting domestic violence began in 1995 when the company introduced its HopeLine program as a way to make a difference in the areas of domestic violence awareness, prevention and victim recovery. Throughout 2006, wireless customers in Tennessee donated nearly 24,000 wireless phones to Verizon Wireless' HopeLine phone recycling program to support domestic violence prevention and awareness programs nationwide. The Bristol store, in conjunction with all of the 2,200 Verizon Wireless company-owned stores, collect used cell phones (any make, model or carrier) to recycle the phones and give the proceeds to domestic violence programs across the country.
Real estate investment course offered
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ASHEVILLE, N.C. - The nonprofit Carolinas Real Estate Investors Association (CREIA) will offer its "One Weekend Toward A Better Tomorrow" course in basic real estate investing April 20-22. Held at Asheville-Buncombe Technical Community College, the course covers such topics as why to invest in real estate, how to know what to pay, the impact of taxes, management skills, screening tenants, legal aspects of investing and renting, home rehab skills, and the various ways of building wealth or cash flow from single-family homes. The course is taught by veteran investors Bill Goacher, John Maltry and David Maggard. The cost of the class is $250 for CREIA members and $300 for non-members. To register go to www.creianc.org or call 1-800-477-1778. For more information or to check the availability of special room rates for out-of-town guests call Goacher at (828)216-6066.
Kingsport Livestock Auction
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April 14. Steers, medium frame 1: 200-300 lbs., $100-112.50; 300-400 lbs., $119-139; 400-500 lbs., $82.50-130; 500-600 lbs., $87-127; 600-700 lbs., $50-108; 700-800 lbs., $60-97. Heifers, medium frame 1: 300-400 lbs., $80-118; 400-600 lbs., $77-110; 500-600 lbs., $60-109.50; 600-800 lbs., $62-95. Beef cows and calves: $650-1210. Stock cows, $300-925. Baby calves, $55-130; Butcher bulls: 1,000-1,500, $56-73.50; 1,500 lbs. and up, $57-69.50. Sl cows breakers & boners: $45-48. Sl cows lean: $43-54. Low dress: $10-35; crips, $10.