Wells Fargo, one of the largest sub prime car lenders is pulling back from the raging market. It is a move throughout the auto industry, indicating that the market is overheating. Wells Fargo has imposed a cap on the amount of auto loans which will be given to sub prime borrowers. They’re going to cap everything at 10% of all their overall auto loans.
Berkshire Hathaway, the insurance of fourth-quarter net profits declined 16.7% before profits were up 2%. Book value of 2014 grew 8.3% after taxes. If you use a credit card to pay for those purchases at Costco, American Express will go away in April of 2016, Citi Visa card will take its place, the exclusive deal between Citi and Costco were not disclosed.
The average price of ground beef has climbed to another record high for 24 a pound in the U.S. in January, in August of 2014, the average price per pound top $4 for the first time. Five years ago, the average price of ground beef was $2.28 per pound. The prices climbed the buck 96 per pound or 86% since then.
The SP500 in the Nasdaq are going to open right around the flat line, the MSCI international index was up fractionally on Friday. Oils went down $0.79 a barrel and gold was up one Abraham Lincoln a troy ounce, with northwest quadrant wealth management.