Market Update Report 5/9/2014 | Beacon Rock Wealth Advisors

The KUIK Market Update for Friday May 9:
Markets are down.
Index	Direction	Change	Units	Last	Time	Change
Dow	Down	(16)	points	16,530	7:21 AM
S&P500	Down	-0.3%	percent	1,871	15.03
Nasdaq Composite	Down	-0.3%	percent	4,040	59.55
30 Year Treasury	Up	3	Basis Points	3.44	Annual Yield
Defying a White House veto threat, the House of Representatives today approved a bill making the research-and-development tax credit permanent. The White House earlier this week said it supports extending the credit but that President Obama would veto the Republican bill since it would add $156 billion to the deficit over 10 years. The White House argued it should be paid for by eliminating other tax breaks. The Senate isn’t expected to take up the permanent credit, since lawmakers in that chamber are pursuing a two-year renewal of expired tax breaks.
The Commerce Department reports the number of job openings dropped in March to 4.01 million from 4.13 million. The quits rate, a measure of worker confidence, was unchanged at 1.8%. The ratio of unemployed to openings, at 2.61, is up from February’s 2.54.
Marketwatch reports that sales of Sake, the Japanese rice wine are up. Overall, sales of all sakes in America — high and low-end, imported and domestic — are up about 25% in the past five years to nearly 2.9 million cases, according to the Gomberg-Fredrikson Report. Leading the way is SakeOne, the 22 year old, Forest Grove company behind the Momakawa brand which is pushing craft sales and Pearl, an unfiltered Sake.
Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK.
http://www.marketwatch.com/story/house-passes-permanent-rd-tax-credit-2014-05-09
http://www.marketwatch.com/story/german-exports-fall-as-trade-surplus-disappoints-2014-05-09
http://www.marketwatch.com/story/american-company-cashing-in-on-skyrocketing-sake-sales-2014-05-09
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