the surprising last minute deductions that could come in handy for procrastinators in today's cover story....re- dial. why the secondary market for electronics is booming. plus... top chefs are bringing their skills to the streets. we'll take a look at the *pickup in the food truck industry. and...an insider trading scandal that seems too over the top to be true. why the case is likely to stay in the spotlight. first business starts now! you're watching first business: financial news, analysis, and today's investment ideas good morning.it's monday, april 15th. tax day i'm angela miles.in today's first look botd--- the buy on the dip theme continues in the market.what started as a strong sell off friday on disappointing

data from the retail sector was stopped by investors buying on the dip. in the end dow showed no losses-- the nasdaq down just 5 points and the s&p down 4. the major movers were gold down 78 dollars and oil dropping below $91 dollars. the courts are giving jcp the temporary right to sell martha stewart products. and a currency culture clash.. the u.s. treasury is warning japan to not weaken its currency on purpose. the department also stopped short of calling china a currency manipulator. we are off to the races this monday morning with tony harris. he's with performance trust investment advisors. he's a bond trader and its great to have you on the show this morning. > > good morning angie. > > what can we look forward to in the week ahead. what's the bond market telling us? > > last friday the bond market was reacting to a very soft retail sales number. retail

sales were down 0.4% month over month and even more interestingly year over year they were only up 2.8%. that's as slow as we've seen it since november of 2009. so that's a very bad thing for the u.s. domestic market. and bonds rallied significantly. they were down about basis points and yield to about 172. that's about where we were last friday when we had the terrible non farm payroll reports. so i'd say right now the bond market is doing quite well because of the soft economic data that we've seen. not only the retail sales but also in the employment markets as well as the ism non manufacturing numbers that came in so it's a poor string of data. > > historically money goes to the bond market as a safe haven. usually goes to gold as a safe haven as well but on friday, we saw a big move down. they were selling gold. what's going on with that story? > >that's right. gold was down about 5% or so. it actually went below 1500 per oz. we haven't seen those levels since

the summer of 2011. i would say the fundamental drivers of gold include inflation and i think similar to the bond market the gold market is thinking that inflation really isn't going to be a problem, at least in the near future. in fact, in the u.s. and other developed nations it could be that deflation is actually the bigger problem. and that could be very bad news for the gold market and i think that's one of the major reasons that the gold market is selling off the way it has been. > > you mentioned that the bond market was rattled with what was going on with the consumer. was there any sign out there that it will change what's happening with the fed and quantitative easing? > > the fed is targeting what they say is a six and a half percent unemployment rate as well as 2-2 1/2% in terms of inflation. i think that they are no closer to ending qe than before the last few weeks because the string of economic data has really been bad. we had the poor retail sales number. we also had the poor consumer confidence data on friday and last week we had the very poor ism manufacturing data as well as the poor payroll report. so i think the fed is even farther away from ending qe than we were a couple weeks ago. > >tony, thank you for your thoughts. have a good day. > >thank you. you too. it took the civil war to create the federal income tax to support union efforts. but it wasn't until 1913 when the 16th amendment made the income tax permanent. and since it's not going anywhere, those who haven't filed and don't have an extension should be reminded--- today is the i-r-s deadline for filing for 2012. "have you finished your taxes? no. why not? no time." "i haven't done my ira which is why it took so

long." according to the white house the obamas joint return reported an adjusted gross income of more than 608- thousand dollars. they paid 112- thousand in taxes and donated 150-thousand to charities. that puts the obamas in the 18.4 percent federal income tax rate. on to capitol hill.. where lawmakers will take up key bills this week. the senate-- may consider a proposal on gun legistlation that expands background checks to people attempting to buy firearms online and at gun shows.former congress woman gabby giffords who was shot in 2011, is expected to lobby lawmakers. nra members promise to challenge the bill.also-- landmark legislation on immigration could be unvieled as early as tomorrow. retailers are hoping warmer temps will prop up a spring sales slump. march retail sales fell 0.4% - the biggest drop in nine months.a cold snap, uncertainty out of washington, and a weak job market were to blame. "we've seen retailers see these ebbs happen. there's a lot of year left, so no need to panic. i think so long as

consumers come back in april, retailers will go with their normal discounting plans." some economists expected a spring slump from sequester cuts and higher taxes.they say a boost in hiring and wages is needed for consumers to step up spending. citigroup reports earnings this morning... but it's already becoming clear, banks are enjoying a profit bounce.wells fargo posted a 22% gain in first quarter profits.wells is the largest home lender in the nation and made money by trimming expenses as its mortgage business finally showed a slow down. similar to wells fargo-- jp morgan also dealt with weak demand for new loans by curbing expenses. jp morgan profits rose 33%. more big banks are offering pre paid debit cards.bankrate dot com finds over the past year, more national banks offer the cards, which could benefit consumers who don't use a

traditional banking system. " some of the large national and regional banks now have offers that involve just one monthy fee. and that ability to quantify exactly how much this is going to cost you is attractive to consumers looking for an alternative to a checking account, particularly if they have a tendancy to overdraw that checking account." the decline of free checking has also made prepaid cards more attractive to some consumers. however, fees on the cards have a wide range. out of 24 of the most popular cards bankrate reports 63% offer a fee ranging from $3 dollars to $9.95.the fees continue to catch flack, especially as they are marketed to younger consumers. teen pop star justin bieber just signed on to endorse the "spend smart" card. a guilty plea is expected in may from ex- kpmg partner scott london.london is already

confessing to a $1 million dollar insider tradng scam. he was charged last thursday for tipping off friend and golf buddy bryan shaw about non public information involving five kpmg clients, including herbalife and skechers. images of london making a deal in a parking lot have been splashed across the media - along with details of cash exchanges and expensive gifts. "i think that the prosecutors want a lot of media coverage because the public is really calling out - or crying out - for scalps in the wake of the financial crisis , and the high level of distrust yale professor jonathon macy adds, any damage to kmpg will likely be temporary. some notable drops and pops in ceo pay to report:a bankruptcy judge has denied a 20 million dollar severance payment for outgoing american airlines ceo tom horton.goldman sachs' llyod blankfein's paycheck drops 18% to 13.3 million. facebook's ipo drama will cut into nasdaq's ceo bonus by about a half million. however, pay is on the rise for exxon mobil's ceo, he's getting a 15% pay increase, to 40 million dollars.

and earnings for mcdonald's don thompson will pay triple -- to 13.75 million. the supreme court is expected to hear arguments in a case over "human genes".the myriad genetics company holds patents on several genes. myriad uses the genes in testing for breast and ovarian cancer treatments.it's up to supreme court whether companies can patent human genes.myriad shares have fallen roughly $5 dollars since november when the nations high court agreed to hear the case. popular drug store chain cvs is being investigated for unauthorized prescription refills.investigations by the la times found the chain signed up customers for automatic prescription refills without their consent. cvs claims customers are always asked before being enrolled.cvs also says customers can call 1 800-shop-cvs for problems. executives at blackberry are attempting to silence negative

chatter about sales of its new smart phone. last week... an analyst claimed there were "high levels" of returns for the blackberry z10. the phone just launched last month.negative comments have been by other firms as well.blackberry is taking matters into its own hands by calling for regulaters in the u.s. and canada to investigate what it calls "false and misleading" statements. the surge in new smartphones flooding the market and rapid rise of tablets is creating a healthy secondary market for next-to-new electronics.in our cover story, cash-for-gadgets is a developing trend helping both sellers and buyers. there have been so many new smartphones and new tablets hitting the market recently that a lot of us don't know what to do with our old one. "mine just sits in a closet. my kid plays with 'em." "i either donate it or buyback or give it to a friend who needs it." it wasn't long before some people saw business potential in not-new- but-not-obsolete either devices. "i think there's a huge market for used gadgets. if people can buy one for $100, they can

justify it." true, some manufacturers offer buy-back programs to encourage upgrading. but independent of those programs are e-commerce websites besides ebay, such as gazelle.com and u-sell.com where you can buy any previous incarnation of iphone---because not everyone has to have or is willing to pay for the latest. "i don't feel like spending $500 for a phone. that's not me." this secondary market is growing also because americans are upgrading electronic devices--especially with the shift toward mobile--every year and a half. it used to be every two years. there is another alternative-- recycling. the environmental protection agency reports one out of four electronics are recycled.

in ipo action this week-- sea world plunges into the trading world friday.shares are expected to price in around $24 to $27 dollars. also on friday, safeway spins off "blackhawk network holdings" -- which is a prepaid card provider. thursday- it's satellite company "intelsat" . and, wednesday food retailer "fairway market" will offer stock. last friday... "rally" software "rallied nearly $4 on its opening day while evertec had modest gains of 44 cents. still to come why street eats are helping

restaurant entrepreneurs find their flavor. thats later on. but first.... one for the procrastinators. there is still plenty of last minute tax deductions you can make. tips are coming up, after this in the know message.

procrastination time is over.taxes are due today... and here with "very" last minute tips is lisa dietline, with

dietline and associates.we are glad to have you here.. > > happy to be here but i imagine a lot of people are running around this morning. > > there's a little bit of anxiousness shall we say. let's take a look at some contributions. i know you watched those and what people can and cannot write off. what would top your list? > > what would top my list is still charitable donations. donations you make to your favorite non-profit, your house of worship, your kids' school, your alma-mater are still deductible. in our lifetime, the interest on automobile loans went away. we can't deduct that. the credit card interest went away. some clinical donations used to be deductible---that went away. but charitable donations are still deductible. > > what documentation do you need to prove to the government you actually made a donation? > >that's a great question. first of all, everybody should have received if they gave more than $250 to a nonprofit---they should have received a tax letter by the end of january. if you didn't i would be

calling today or emailing. it's not too late to get that documentation. the irs is getting stricter about documentation of goods and services. so say you donated some furniture or baby clothes to a thrift store that is run by a nonprofit, you actually need that documentation that says how many onesies you donated or how many computers you donated and what condition they were in. so they are getting stricter about that but there are some places that often many of us miss when we're looking for those donations. > >such as? > > we used to always look at our check registry now we should look at our credit card statements. we should look at our emails. a lot of us make donations via our email. look at our personal email. not just our work email and our phones. we're mobile now so look at your phone bill also. > >is it too late for somebody to do a stock donation? > >you can do a stock donation today but it will count on this year's taxes. so the taxes that you file next year. thats when it will count. and of course if its appreciated stock, you get the value of the donation of the appreciated stock not just when you purchased it. > > and of course if you work for yourself you can always put some money into a sep account

today and you do not have to pay that money to uncle sam. > > correct. the tax laws are always changing so i recommend that you consult your financial planner. my guess is their phones are ringing off the hook today. you can probably call right now and they're in their offices. > >thank you lisa. > >happy to be here. > >happy tax day! > >happy tax day. still ahead the latest on competition brewing in the coffee business. plus, why restaurants on wheels are booming in la and in several other cities across the u.s. . thats next.

starbucks is cutting the price of its bagged coffee to stir up competition. in may-- the price on 12-ounce bags of starbucks coffee will drop to $8.99 from $9.99.seattle's best also drops a dollar ot 6-99.cafe drink prices won't change.meanwhile the owner of caribou and peet's coffee is planning to buy sara lee's coffee unit, d.e.master blenders, for about $10 billion to compete in the hot drinks market. a restaurnat revival is happening across the country. but this one is in the form of meals on wheels. and it goes gourmet. . ky sisson(in) takes us to los angeles where street food is accelerating. it's the food truck revolution. from gourmet lobster tacos to wood fired pizzas--these mobile kitchens have taken the streets by storm. the u.s. street food industry has grown to 1.5 billion dollars in the last 5 years with more than 3,500 trucks parking their kitchens everyday. james

cunningham is the author and host of the cooking channel's eat street and has been tracking the food truck boom since it began right around the recession of 2008. a lot of high-end chefs suddenly find themselves out of work. so what started to happen was behind the wheels of these food trucks and food carts around north america is these gourmet chefs. sabin lomac is one of the owners of cousins maine lobster and believes his "street food" is comparable to the finest dine in restaurants. you can get this, a delicacy from the east coast, that's caught and served to you the next day. you can go to the nicest sushi restaurant and you cant get that so it makes it that much better that you can get it out of a truck. food trucks are fueling local economies in cities like venice beach, california, where food truck festivals take over the streets bringing their massive following with them. scott

tremonti is the owner of the urban oven in los angeles and explains that opening a food truck compared to a brick and mortar restaurant was a tenth of the price. the cost of opening a restaurant is astronomical so we figured why not start a food truck, get some street cred, and now we are looking for restaurant space as our next venture. "foodtrepreneurs" as food truck owners are called, have definitely found a recipe for successsocial media sites (ipad in hand) such as facebook and twitter as well as aps like truxmap give their followers up to the minute locations, not to mention (food in other hand) mouthwatering specials. we'll use instagram everywhere that we go and it will let us location tag our photos so we will post a photo saying we are out front of this store at this time. cunningham says this is the best entrepreneurial idea the food industry has seen in quite some time. it's the greatest small business idea to come around in a long time and it's just taking over the streets, reshaping the urban landscapes. reporting in los angeles for first business news, i'm ky sisson. regulations differ for food

truck operators depending on the city rules. coming up--trader tips on buying an airline stock for a perfect landing in your portfolio. chart talk is next. i wanted to be in the military since i was a kid.

i served a total of 16 years. and at 19 years old, that's the first time i ever saw somebody die. coming back, i was raging. i started having pretty horrible nightmares. i started drinking a lot. i guess i never recognized it in myself. it all starts with going to the va. there's a whole community of veterans that just want to help you out. it's for the guys who couldn't come back, you owe it to them to live well. because they're not here with their families.

time now for some chart talk on this monday morning with alan knuckman. and things are looking up your way. good morning to you. > >good morning angie. > >you're watching southwest airlines. this stock has soared over the past year. its up about 61%. so what do you see? more upside? > > the sector has really taken off. its had a major move up since september about 60%. this stock has been trading in a range between $14 and $8 for 3 years. so right now we're about 13. looking for an upside breakout that targets $20, which is the 2003 high that we could get to. > > i know you love the

options. what would be your options strategy on this? > > i like options for a couple reasons because i've got long time duration here and i've got limited risk. i can buy an in the money call. a $10 call gives me the right to be long at $10 when we're trading at 13. i can buy that call for about $3.40. so my break even on this is about 50 cents higher than we are right now and a january call has nine months until expiration. i've got less risk and looking for this stock to break out above 14. > >last but not least what would be some headwinds? > >you could see high energy prices possibly. but i think southwest is now america's airline and the whole industry has regained profitability and i think they're in good shape as we stand now. > > thank you alan, have a great trading day. that's the end of our show for today. coming up tuesday, morning after tax day tips.what you can do now to protect your money for the 2013 tax season. from all of us at first business.. have a great monday..