Transcripts For KICU First Business 20140414

14 as investors worried about a report about an fbi probe into the company. The wall street journal report amazon could have a smart phone ready this year. And, the Ohio Department of Natural Resources concludes fracking for oil caused tremors in the Buckeye State last month. There was no immediate comment from the oil company. Ben lichtenstein of traders audio. Com joins us on this monday. Should investors be concerned about the market today. Mondays tend to be rough days for the market. Another manic monday if you will setting up here. Looking back at last week though, what would you expect . What a week to say the least. Closing out weak near the lows in the s p. Down near that 1800 leveltheres a bit of a psychological level. Theres also some Technical Support there. But the real level we were watching on friday was the 1820 level. We breached that. No rejection for the most part at these lower levels. So in my opinion its just a signal that theres more weakness to come. A lot of energy across the board in all the majors. If you look at crude up to that 104 level. You got the dollar last week which breached the 80 even level. Theres a lot of major markets on the move. The bonds to the upside. It had a bit of flight to quality if you will. While we see this sell side activity. We should see that continued energy today basically a continuation of last week. With the action in the oil market, how is that plying out against the dollar . Everybodys been asking about that. Theres a lot of concern right now in terms of the russia situation as well. For the most part the dollar has really been coiled for the last couple years right around this 80 even level. As long as its up above 78 its still just in balance. Its still just sideways. We are seeing a little bit of activity in the dollar and related to crude here. So i think its potentially just fueling the crude a little bit higher and as the spread tends to widen were watching the dollar come off. But in my opinion the dollar is still up above 78 even. Its really yet to breach any major support and continues to be in that sideways chop. Dont get me wrong widerange chop that weve been seeing over the last couple of years. Even with crude below 105 right now its not really concerning until we see 110. I think the biggest concern was with crude unable to breach that 170 level to the downside recently. Thats part of the reason were seeing this big run up right now. Thank you for that trader talk ben. My pleasure. Thank you so much. Lets check in now with chuck coppolla for an update a hot topic at gm. Angie new findings in a house committees investigation into General Motors handling of recalls could put the automakers new ceo on the defensive. New documents detail that mary barra received emails as far back as 2011 regarding steering issues in cars that were subsequently recalled. Gm quickly put out a comment on twitter that the the saturn ion steering issue, is completely separate from the ignition related recall. The Companies Shares fell 4 friday. Citigroup earnings due out this morning could set the tone for the trading day. Investors are bracing for a year over year decline of 5. 5 in revenues to 19. 37 billion dollars. Analysts recently shaved a couple pennies off earnings projections. Citi is reeling from a banking scandal in mexico. And, the Federal Reserve rejecting the banks request to boost its dividend and buy back more shares. Citigroup stock is down nearly 10 this year. Right now, im probably a little bearish on bank stocks. I think earnings are going to be down from last year because theres still pressure on asset yields. Last friday jp morgan triggered market jitters after missing the mark on earnings, as the banks bond trading revenue plunged 21 . The stock fell 2. 00 wells fargos however, was the only major bank to eek out a rally friday. Profits at wells came in stronger than anticipated. The ipo calendar is sizzling. The big winner last week fast casual restaurant zoes kitchen, which shot up 65 from 15 dollars to 24 67. Animal Pharma Company Phibro Animal Health traded around its opening price of 15 dollars. Next week brings tech travel Company Sabre corp. It expects to price between 18 to 20 dollars, trading under symbol sabrsocial media platform weibo corp, planning to price between 17 and 19 dollars, trading under wband Investment Bank moelis company, expecting to come in at 2629 dollars and trade under symbol wc. A warning is out about fees that could kill your 401k savings. A new study by the center for American Progress finds. The typical american stands to lose 70,000 after putting money into a 401k account over a 40 year career. Its because of high fees. Fees are often hidden in complex fund statements. The Group Suggests workers hunt for low cost fee options that are. 25 or less. Having met all 13 pre conditions, ukraine has cleared the path for the first portion of Financial Aid from the International Monetary fund. 7 billion dollars could be on the way to the unsettled Eastern European nation by early may, with ukraines finance minister stating it will be divided between the state budget and reserves of the national bank. This first installment represents only a fraction of a 14to18 billion dollar two year bailout plan the imf agreed to in march the motor city has secured important backing in its bankruptcy battle. A federal judge gave the green light last week to detroits plan to pay ubs and bank of america 85 Million Dollars to terminate swap contracts the city used to finance pension obligations. The deal eliminates one of the last remaining hurdles in detroits bankruptcy proceedings, which could be resolved by early fall. Bargain shoppers can expect good deals at Coldwater Creek after the retailer reports its going out of business. The womens store filed for chapter 11 bankruptcy protection after failing to find a white knight to help fund turnaround efforts. The chain will close all stores early this summer with Liquidation Sales online and in stores expected to begin next month. Yoga mats and subway bread will have one less Common Thread by the end of this week. The fast food chain promised to completely phase out use of the ingredient azodicarbonamide from its bread. The ingredient is approved by the fda for use as a dough conditioner, but brought subway a slew of bad publicity after Research Revealed it is also used to make yoga mats. President obama has tapped his budget chief to lead his Signature Healthcare law. The president tapped slyvia mathews burwell, director of the White House Office of management and budget, to take over as secretary of health and Human Services after Kathleen Sebelius resigned abruptly last week. I will miss her i will miss her advice, i will miss her friendship, i will miss her wit, but i am proud to nominate somebody to succeed her who holds these same traits in abundance, Sylvia Mathews burwell. Despite technical difficulties with the Affordable Care act website under sebelius, an estimated 7. 5 million americans enrolled in health plans through healthcare. Gov. Amazon is offering employees 5 thousand dollars to quit. Its available only to workers in fulfillment centers. Amazons ceo says the goal is to enable a choice and encourage employees to consider whether they really want a career with the company. Concern over the heartbleed bug continues with an estimated halfmillion servers at risk. The web security gap can allow malware to scrape the memory of unsecure servers for private data including credit card info. Cybersecurity experts warn that individuals should keep a close eye on Financial Statements over the next few days for unfamiliar charges. Changing passwords after receiving confirmation of a Security Patch is also a good idea. Tech companies and retailers are making a stronger effort to go green as americans continue to upgrade gadgets. Apple, samsung, hewlettpackard, and dell are the Tech Companies with toptier recycling programs. According to the Consumer Electronics association. Consumers recycle about 600 Million Pounds of electronic equipment each year. Its important to recyle your electronics because you might not realize it, but there are a lot of components in these products that can be reused, such as the plastics, metals, and glass. Retailers best buy and staples are cited as have the most extensive recycling programs for devices and old office equipment. In our cover story, the corporate doorway is opening a little wider for people whove dreamed of white collar jobs but because they come from disadvantaged backgrounds, few had the expectation that theyd ever get the chance. Until now. For young adults whove completed high school but have no access to livable wage jobs or college. A nonprofit called year up teaches skills designed to get them in the door of a corporation looking for motivated young adults who have potential but little else. Were intentional about choosing people who have barriers, whether its unstable homes, or becoming a parent at an early age. If i wasnt here, id be in the air force. With a glut of open positions in information technology, year up teaches six months of entry level it skills as a path to a sixmonth, paid internships at companies such as Financial Services firm, ubs. We can bring young people who are motivated and bring calue from day one. In addition to that, we want to set them up for success so softskills are emphasized. Your posture, how you communicate, will be a big determining factor for me. The Program Began in boston and in 14 years has spread to 11 cities. In chicago, every six months 80young people are selecteda little less than one our of four who apply. The success rateabout a third of interns are offered jobs with companies that have found that it helps groom entrylevel employees. Whod otherwise face minimum wage jobs with limited futures. They ahve to not only overcome barriers outside their door but bring a good attitude to show this is what talent looks like in this country. In chicago, year up has 40 corporate partners. More than 90 of them say theyd recommend year up to solve their entrylevel Technology Workforce needs without hurting a companys bottom line. Still to come in chart talk. Will a oneday sale in google glasses create a clear upshot to the stock . And. Why cheerful givers will be smiling on tax day. Plus. The pros and cons of going to a tax preparer versus doing your taxes yourself we are back in a moment the stock market could face added pressure this week as we close in on tax day. Last years run to record highs in the stock market, turned into impressive Capital Gains for investors. However, the great year in the market means taxpayers will be writing bigger checks to uncle sam, forcing some to cash out on stocks to come up with money to pay the irs. Historical data shows investors are more likely to sell around april 15 following a year with big gains in stocks. The tax preparation business is becoming more competitive. Professional tax preparers are up against doit athome software. Ky sisson takes us Cross Country for a report on the taxtrend. When choosing between visiting your local Tax Professional or buying a Software Program to file at home, americans are increasingly selecting the less expensive, doityourself option. Though more taxpayers are still using commercial tax preparers overall, a report from the irs says that the business is slowing down 2. 2 percent from last year as of early march. More than 27 million americans filed on their computers, up 5. 8 percent. Traffic to irs. Gov has also decreased, down 8. 3 percent from last year. Consumers can spend as little as 30 on tax software such as turbotax compared to much higher rates at brick and mortar tax preparers. Its much easier for me to buy one of the turbotax packages at costco and work through it online and its cheaper. Tax experts warn against the risk of making major mistakes when using software on your own. With turbotax its done and youre done. You wait till next year and hope and pray and keep your fingers crossed that you answered all the questions correctly. This trend is being felt by the big guns such as h r block that accumulated nearly 340 Million Dollars in net losses for its fiscal 2013 third quarter. Intuit, the makers of turbotax, saw an 11 boost in sales last year to 14 million units. A report by the u. S. General Accounting Office says that most customers are happy with their tax preparer and would go to them again but with little government oversight in the industry, experts caution consumers when picking out a Tax Professional because of the higher cost. Im putting more pressure on the consumer. Know what youre getting into. Talk to two or three people and ask what the fees are and compare. In more complex tax situations, some filers are more inclined to pay more just to be safe. Just being able to go in have one on one and kinda explain the situation. With the uniqueness of our tax household helps us and in the long run helped us get more in the end. For First Business news, im ky sisson. Congress is concerned about the amount of faulty returns filed. Last week, the Senate Finance Committee Held a hearing on protecting taxpayers from incompetent and unethical return preparers coming up. Why its good for taxpayers to share and share alike. Plus, the afforable oil stock that may be poised to become profitable for investors. First business is back after this. A few quick swipes of a credit card or checks to charity could save you from paying money to the irs while assisting good causes. Lisa dietlin is on set with us this morning. She knows it all when it comes to charity. Good to have you on set this morning. Happy morning. This is a happy morning for people frantically trying to get that tax form in before the deadline tomorrow. Help us set up for next year. Any big rule changes coming to the irs with contributions to charity . Theres changes every year. The biggest ones that have happened recently is the documentation. The irs is getting stricter about documentation especially with donations over 250. You have to have it documented if youre going to deduct it. If you are giving goods awayif youve done that Spring Cleaning last year and you donated a leftover computer or couch or some dishes you actually have to have documentation on the letterhead of the Nonprofit Organization and a detail of the condition that those goods were in. Were they good, excellent, or slighly used . Thats worth knowing. We have some viewers who are in a high net wealth and they probably have accountants going through and telling them you need to give away this much money every year. But for people who might be on tighter resources, what should they do . I always say if you can afford it you should consult with a tax advisor and an accountant but if you cant think about those things that you could give away that you can track. For instance many people get a refund at tax time. Maybe donate all or a portion of that charity to help offset your taxes next year. You can also think about purchasing goods that you can donate. Im single and when i go shopping buy one get one free, i probably dont need 32 rolls of paper towels, so i can donate those extra rolls i get in the second package to charity. Charities need lots of thingscoffee, creamer, napkins, postage stamps. If youre a Small Business owner and youre ordering a box with reams of paper, order an extra one and send it to your favorite nonprofit. But make sure you track that and keep track of it for your taxes next year. That is a great idea. Thank you for coming in lisa. Happy to be here. Still ahead is google stock a buy ahead of tomorrows google glass frenzy . Chart talk is next. Im going to pass chemistry, and ill take it from there. Im going to do what makes me happy. Im going to work hard. Be independent. Live large. Make the most of every opportunity. I knew i wanted to go to college. But figuring out how to pay for it . I didnt have a clue. The u. S. Department of education has over 100 billion. And thats a lot of money. To help students pay for college. And the free application . You mean the fafsa. I did it online. It was easy. Im never giving up on my goals. I will make a difference. Im going to find out how to pay for college. Im going to college. Gov. Iafflec and many actors have played the part of u. S. Servicemen in the movies, but for veterans like james crosby their service and their sacrifice are real. And too often when they come home, their struggle continues. For over sixty years, paralyzed veterans of america has been fighting to help our injured veterans get the benefits they need, and have earned. Paralyzed veterans of america was there for me when i came home. Join me in supporting our paralyzed veterans. Visit pva dot org. Andrew keene, president of keeneonthemarket. Com joins us on this monday. Hello hi angie. How are you . Im doing very well. Lets start with natural gas. What are you seeing in the Options Market . Wee seen a lot of unusual option activity to the long side and bullish activity in lng. Chinere energybig reversal day on friday. With the s p down 15 handles lng was higher. I think it takes out the 52 week high and moves higher. We activity in april, may, june,and september so im long lng via calls. So in case you dont understand options, hes basically saying hes bullish on that stock. He expects it to go higher sometime within the next six months or so right . I have some may, some june, and i have some september so yeah. Wow. Lets move on to some tech stocks. I want to ask you about google. Google glass is coming out on tuesday. Very limited supply. What do you think about this stock . Its hard. I cant believe im smiling right now with the selloff we saw last week. We see all these high Growth Stocks getting absolutely massacred. Hedge funds are looking to liquidate everything and unfortunately google happens to be one of those names. It sold off to its 52 week low at 526 on friday. Love the story, i think the glasses would be cool. Theyre 1,500. Im gonna buy a pair if i can get them. I like their innovation. I like them going forward. However, as the knife is falling off the counter, you cant go to grab it just yet. So im looking for a entry. I dont even have a level because every singel day it seems like it wants to go down. So im either looking for a Double Bottom or a big tail on the bottom. Buying pressure comes into the market. On friday, after that huge selloff on thursday we were down again. I want to get long google but the opportunitys not there just yet. And your old friend apple. Theres a lot of buzz about this iphone 6. Are you a buyer at current levels . Once again, we see everything getting totally shifted around. All these stocksapple, netflix, priceline, google. Anything that is high growth, high valuation. Theyre just getting hit so hard. I cant be buying them as theyre going down. I like to buy stocks as they go higher. I think with the iphone 6 if they come out with a bigger screen its going to be a game changer. I will definitely upgrade my phone. So i think apple will go higher. Apple has been holding up decently well through this selloff. 515ish is a pretty big level. Thank you andrew. Thank you. Thats it for today. Ahead of intels earning on tuesday. A look at how that tech company is reaching into the retail world. Thanks for watching today. From all of us at First Business. Have wonderful start your week announcer the following is a paid presentation for dermawand, brought to you by International Commercial television. [. Hi, im lisa varga. Im 40 years old, ive never had cosmetic surgery and im not afraid of High Definition cameras. Bring them in closer, guys. Closer. Good. Now, do you want your skin to look as youthful, fresh and linefree as it can . 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