| The KUIK Morning Market Report for Friday, February 21: | |||||||
| Markets are up. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Up | 37 | points | 16,168 | 6:58 AM | ||
| S&P500 | Up | 0.18% | percent | 1,843 | 3.38 | ||
| Nasdaq Composite | Up | 0.28% | percent | 4,280 | 12.13 | ||
| 30 Year Treasury | Down | (0) | Basis Points | 3.72 | Annual Yield | ||
| Marketwatch reports that President Obama plans to ask Congress in early March, as part of his fiscal 2015 budget, to reduce some of the tax advantages for employer-sponsored retirement plans for higher-income earners, according to a Pensions & Investments report. The president also wants to limit the value of all tax deductions, defined contribution exclusions, and IRA deductions to 28% of income, as well include an overall cap on all retirement accounts, including pensions, that could bring in $1 billion a year in new tax revenue | |||||||
| Retail beef prices are near record highs. During 2013, the price consumers paid for ground beef climbed roughly 5%, to an average $3.50 a pound. The USDA’s Economic Research Service projects that beef prices will rise faster than almost anything else this year up 7% to 8% in both 2014 and 2015. The reason is the cattle herd in the U.S. which is the largest beef producer in the world has fallen to an estimated 63-year low, according to Bloomberg. Herd size is on the increase again, but it will take several years to move the cattle to market. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/obama-plan-cut-tax-breaks-for-rich-retirement-savers-2014-02-21 | |||||||
| http://www.marketwatch.com/story/tomorrows-hamburger-may-cost-as-much-as-todays-steak-2014-02-20 | |||||||
| For today’s Morning Market Report click to listen-> | |||||||