 The following is a presentation of TFNN. The morning markets kickoff with your host, Tommy O'Brien. Good morning everybody. I'm Tommy O'Brien, coming to you live from TFNN just after 9 a.m. eastern time. We got about 24 minutes to go until the start of trading. Today may be an interesting one, folks. We got weekly jobless claims coming in right at 218,000. We have the PCE deflator pretty much right in line. Year over year, you get a number of 3%. They were thinking maybe 3.1%. We're still dealing with three handles. We're pretty close to two handles. I was listening to Bloomberg as they were announcing those numbers before we came on the program. They had Neil Dada on from Renaissance Capital. I like what he says sometimes. And he was talking about since June, you're looking at a number that I think he said 2.6 or 2.3% annualized. So we're making progress, but boy, we got a market pop to a high of about 45, 78. We're about 10 points off that price level and we're actually going to kick it off with bonds this morning because there's the action, man, right? You get a number that pretty much points where things are going the way the Fed wants. It may indicate that we get a progression of where we are right now, where we're going in terms of yields continuing to decline. But that's not the case, man. We just trade down almost 15 ticks to 109.30 or the market pullback during that time as well. So keep your eye on yields. It has been quite a run to say things lightly. And we're going to kick things off. One of the biggest bull runs in bonds that we've seen since 1985 on a four-month basis. Excuse me. The Dow up 186 points right now, but we give up about 75 points off of that spike high. And you can see markets were already positive when we were coming into that number. Let's zoom it in at 8.30. So we're actually below where we were. We're still positive territory, but the market's dipped a bit since we got that economic number and bond yields have risen a bit. Crude, a little volatility as we get some currency volatility as well. Crude up 86 cents at 78.69. The gold contract pulling back a little bit as well. Gold off about $11 to 2055. We jumped to notes as we mentioned pulling back a bit to 109.30. And we spiked on a, let's put it on a minute basis so you can really see. Right at 8.30, you got a one moment spike to 110.14. And just like that, you trade down to 109.26. So keep your eye on yields. We'll go back to a 10 minute chart. The 30 right now, pretty similar action. You trade to lower price, higher yield. You get the 30 right now down 22 ticks at 116.14. And how about the two year? Interesting as well, the two year. You go back to, let's back it up on a daily basis. The two year, October 19th or so when we were trading at 130, you call it. The two year at that point was yielding five and a quarter percent. We're now at 4.68, just a mammoth move on the two year basis. The two year right now negative by two ticks as we get a little bit of higher yield on that economic number. We jump over to the volatility index. And this morning, we got a 13 handle. We had a 12 handle yesterday, 12 handle the day before. Today, markets are pricing a little bit more volatility. 1309 still, very low volatility in this market. And then you jump to the dollar index. And what's happening? We have strength in the dollar index. Yesterday at 102.80, today we're at 103.37. You're up 60 pennies. I don't know how the market's going to be able to handle that too. In terms is the market going to be able to hold on to positive prices when we have yield rising and dollar strength on the heels of economic numbers. We get to find out. That's for sure. All right. Let's kick it over to some of the headlines we got going on. And let's kick it off with the treasuries, the biggest blowout in bond since the 80s sparks everything rally. But keep in mind, man, there is a lot of optimism priced in and that's what you could see play out today in terms of the pullback that's possible. Yield plunged birds advance in stocks credit emerging markets. So yeah, I think they said since 1985, right? How do they categorize it here? The rally was, yeah. So the Bloomberg US aggregate index returned 4.9% this month through Wednesday. Yeah. And there it is. So the best month. So remarkable on the best month and on, I guess, a four month basis. I heard them talking about on Bloomberg as well this morning in credit. US jump bonds rally more than 4%. The most since July of 2022. And big numbers across the board, as we know. They talk about the Fed in here. Traders now pricing in about 1.15 percentage points of policy easing in 2024. Yeah. So we get to find out, but it's going to be an interesting open. We'll see. Let's go over some of that economic data. We'll kick it off with jobless claims. US continued jobless claims jump. They beat a bit 1.93. So keep your eye on the continuous claims. Those are one week delayed versus the initial claims. Initial claims increase the week that included Thanksgiving. You can get a little bit of volatility and variance there as you can imagine the week of Thanksgiving. Continuing claims. Undeniably ticking up. You're going back to December of 2021. Quite the rise from under 1.4 million. We hit a high early in the year to 1.8. You get a slight dip and we are rising again over that March high. Continuous claims approaching 2 million. And we were under 1.4 for the better part of 2022. Man, maybe six months of 2022. Initial jobless claims up 7,000 and 218,000. Okay. We get to the consumer spending inflation economic data. US consumers spending inflation slow and a sign of cooling economy. Inflation adjusted personal spending rose 0.2%. After a downwardly revised 0.3% advance in September. There's your 0.2%. The estimate 0.1. PCE price index was actually flat when they were thinking it might go up by 0.1%. The PCE price index year over year as I mentioned at the beginning of the program, 3% versus 3.1. So we beat here. That's the bottom line. In terms of beating with lower numbers, that's the Fed's preferred inflation gauge. Very little volatility right out of the gate on that number. But you got to pay attention to the bond market. And maybe they were just looking for a little bit more. Maybe they're worried if things get a little bit sticky where they are, the Fed won't be as quick to move as some may imagine in the market right now. But this is going to be an interesting open to see what the market interprets this number. We get non-farm payrolls a week from tomorrow. Today's the final trading day of November. Tomorrow's December 1st, non-farm payrolls December 8th. Fed meeting the following Wednesday, December 13th is their announcement. So and then we got 12 days to Christmas, right? And that probably is the last big economic number. And we get more than that, of course, but that's December 13th. And you're talking about the next week is the week prior to December Christmas and Christmas falling on a Monday that year. So that's going to, you know, the week prior to Christmas is going to be a tough one. People probably trying to sneak out of the office and you have the Fed meeting the Wednesday before that. So it's going to come pretty quick. All right, let's check out some of the fag stocks. Some of the magnificent seven, we should call them now. You got Apple shares pulling back a bit. They were above 190. They're off to 189. And it was interesting yesterday, right? Boy, when I was on the air, things were looking pretty good. And things got pretty dire pretty quick, especially in some of the tech companies. Apple from 192 to 189. Folks, I've talked about before Apple, they have about 16 billion shares outstanding. Yesterday alone from high to low, they lost $50 billion in market cap. Staggering. We jump over to Microsoft shares this morning. And they're basically trading flat after trading higher in the pre-market. We jump over to Amazon shares down a bit. Amazon are going to drop a dollar on the open there. We jump over to Meta shares. Meta flat right now. Stay tuned folks. We're coming back. We'll talk to our man, Kevin Hicks from the Schwab Network Fast Market. We'll be back in three minutes. Don't go away. If you're looking for potential trading setups in the stock market, then Rocket Equities & Options Report is a newsletter you should try. Tommy O'Brien delivers options and equity trades when the markets present them using a combination of fundamentals and technicals. Sign up for Rocket Equities & Options Report today with a 30-day money-back guarantee so you have nothing to risk. 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If you're trading directionally, right? If you're trading for volatility, if you're trading for value, whatever you're trading for, you have your bias, and that's how you can set up some trades. But it is interesting when you go over the 10-year and the data that we got this morning. You would say that if I showed you that data, the PCE deflator was flat versus maybe a slight rise of 0.1% on a monthly basis. On a yearly basis, it was 3% versus 3.1%. That's the Fed's preferred inflation gauge. That should tell the market that, you know what? Things are going well. You're right. We're going to see yields continue to drop. No, that's not what happens. Yes, we hold up. We're right where we were trading at, end of the day on Tuesday. So it's been quite a run. But expectations are very high right now. When we get the economic data that we just got, and you do not get a move higher, excuse me, you do not get a move lower in yields. You get absolutely amazing inflation data. You get the Fed's preferred inflation gauge, the PCE, it's flat on a monthly basis. We're almost in a two-handle on a yearly basis, and what do yields do? Yields actually go up because maybe they're looking for a little bit more, and maybe the Fed's going to be a little bit persistent about how fast they potentially cut. In terms of the market pricing in between one and one and a quarter percent cuts, that's four to five quarter cuts. They're pricing it over the course of the next year. We're coming into December tomorrow. You're almost going every other meeting or every meeting at some point if you're going to get to that level later in the year. Maybe the Fed's not going to be that quick, and maybe that's where a little bit of the re-pricing comes in. But as is the case, we find out where supply equals demand, and we find that out on the open, and it'll be an interesting one. But you got yields up right now. I was just looking at the yield curve over here on CNBC. Higher across the whole curve, right? You go to the two-year, we're up by four basis points, almost pushing 4.7 percent. The 10-year right now, up by four, the 30-year, up by three basis points across the board. All right, so you see that headline on the top of that page. Trump's lands, Jamie Dimon for praising Nikki Haley. Well, we're about a year out from an election, so get ready for those. But boy, we got to talk about the Elon headlamps last night, right? A few profanities at an event hosted by Andrew Sorkin, not Jonathan Sorkin. I tell you, so he tells the advertisers to go f themselves, which is tantalizing enough, okay? He knows how to make headlines. He knows how to keep himself in the press. But the best part of that last night was telling Andrew Sorkin that the only reason he's there is because he's friends with him, and he's calling him Jonathan. It's like complete satire of the richest person in the world sitting on a stage, telling everybody to go f themselves, telling the guy interviewing him that he's only there because he's his friend, and he's calling him Jonathan, and it's not even his name. You cannot make this stuff up if you haven't seen the clips. It's worth checking them out, folks. Now, Tesla, nobody seems to care what's going on with Elon, and I understand because the performance he's given that company. It is interesting to see if that happens. And, you know, wielding in on the argument of Disney, so you had Igor out there, right? Talking about Disney, they pulled their ads. Elon's calling it blackmail, okay? And there's no reason these companies have to advertise with a company that's so divisive right now in either way, okay? You can believe in it if you want, but I don't understand why a company simply maybe not wanting to be associated until things even calm down or things get sorted out or Elon's not on stage telling everybody to go f themselves at some point. I don't think that's blackmail for that business not wanting to spend advertising money. Advertising money is supposed to have a return on it. Igor simply said something about they didn't see it maybe as a positive right now. You know, maybe it could even be a negative. You're going to spend advertising money to do harm to your company. So the blackmail term and all this stuff, you know, it's, listen, I was cracking up watching it, okay? But don't get sucked into that saying it's blackmail. No one's blackmailing the richest man in the world as he tells everybody to go f themselves. So as he calls the guy interviewing him by the wrong name and says the only reason he's there is because he's friends with him. Classic, just absolute classic. And we'll go from there. Disney shares a little bit of volatility yesterday. And boy, this is one of the ones we talked to our man Kevin Hicks saying, you know, low bar, high bar. The bar is somewhat low on Disney right now. We've talked about it might not be a catalyst in the next 12 months. But boy, when they start pushing out some of their Star Wars movies, they get Avatar movies down the line. They have some of the classic Marvel characters down the line. I imagine this thing trades higher because there's only one Disney world. They will come back to the movie theaters. The movie theater business is not going away. But they're not going to crush it with the movie that they just came out with, which was, what, Wish? Who is even talking about Wish? Versus, can you imagine the next time they pump out two or three Star Wars movies over the course of two or three years? But that's a good two or three years away is what that is. And so, yeah, Disney trading at 92 bucks continued to struggle a bit. And yeah, the Tesla deal, man. Tesla, I mean, Basil Chapman's in there talking about the impact. And I wonder how it's going to play out for that. So Basil asks, I wonder how will impact Tesla sales over the coming months? Great point. It's almost like I think Elon has reached full Elon. Elon is fully priced into the demand factor of Tesla. Like if you were, we're not going to buy a Tesla last week. It's probably not going to matter this week when he tells everybody to go F themselves. You've probably made that decision that you either agree with him or disagree with him enough already from where he is that maybe that's already priced in. And so to that degree, and yeah, now they've had to slash prices pretty dramatically over the six and nine months. So that is a demand aspect of things to pay attention to. And that's why it is interesting that the, that he's able to do this as a public company when his personal beliefs. And that's why so many CEOs stay out of this. Okay. And that can be right or wrong. But it is interesting that when you start having a greater impact to the negative, that's when people would eventually care. And the market and the board is probably saying not quite yet. Yeah, but it was, it was awesome calling, calling Andrew Jonathan and saying the only reason he's here is because he's his friend. Got to love it folks. All right, let's jump around. What else we got going on? Yeah. So we have some cars. So we were talking about GM, right? So yesterday, I think their number was like 9.3 billion. Well, Ford jumps over and they're talking about 8.8 billion is the number they're looking after the contract. I can't get over these headlines. CNBC is such click bait. Jamie Diamond's an overrated globalist folks get ready for it. So Ford on Thursday reinstated the guidance after pulling its forecast last month, 10 billion to 10.5 and adjusted earnings before interest in taxes and adjusted cash flow of five to 5.5 billion. Right? You can see why these workers were fighting for wages, man, because the UAW deal is going to cost 8.8 billion over the life of the contract. That's almost five years. And their earnings for this year that we're in, I'm going to make all of that plus some. Yeah. So that's why they got it done, you know. Ford shares up a bit by about 10, 20 pence. 20 pennies. We jump over to GM holding on to their gains after their restatement as well. All right, folks. Stay tuned. It's going to be an interesting open. We got S&Ps up by eight. We got yields up a bit. We're coming back for the open. Don't go away. 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From the moment the market opens until the closing bell sounds, Tiger TV has eight different shows with expert hosts to help you make the right moves with your money. Watch online at TFNN.com or on TFNN's YouTube channel and become the investor you were born to be, TFNN, educating investors. Don't forget, you can listen to TFNN live on your mobile device 24 hours per day. Go to TFNN.com and hit Watch Tiger TV. That's TFNN.com and hit Watch Tiger TV. Welcome back, folks. We've got markets open and you are almost ticking a pre-market session lows right now with the Nasdaq 100 turning negative. Keep your eye on these yields, man. If you're trading the indices, you're trading the Nasdaq 100, you're trading the S&Ps, you've got to keep your eye on what the yields are doing today. Pull up the 10-year, keep your eye on it. We have higher yield coming at you, that of course. Now you could pull up the dollar as well, okay? They usually trade in tandem, higher yield, meaning a stronger dollar. That's what's happening right now. We get the S&Ps up by six. We hold onto them to those gains if the dollar and yields remain where they are. But I think the dollar and yields are going to remain where they are. I think that it has been a record acceleration across the board and that optimism is fully priced in. And the bar is very high right now for what is priced in for the Fed. I mean, think about it. When you go risk-reward-wise, right, you have a percentage and a quarter of cuts priced in over the next 13 months. Well, if you're going to get more than that many and you could, okay, there's very possible you could get, you know, three full percentage points of cuts, 300 paces points over the next year, year and a half. But think how quickly the pace has to come to actually beat that versus think about the realistic nature that at a minimum, maybe you could start talking about cuts in March, but May or June seems like the better destination next year. And it's going to be tough for them to get to that full point and a quarter over the course of the year. So we'll see how it plays out. But a lot is priced in right now in this market with where we are in S&Ps are in similar category as well. We're pushing the recent highs we had in September, 45-66 within two points of that price level. 46-34 is the high from July. 46-07 is the one to 1.6.8 expansion. So you could see a little bit of a melt-up. Doesn't mean you have to pull back, but it's very tough to see the acceleration higher right now. Even if we continue to get the moves that we've gotten, it's very tough to see the melt-up in equities continuing to a certain degree. And in the same accord, we're sitting at, what, 4.0? Let's pull them up. The 10-year right now is at 4.3%. Right? I think you're going to see a repricing of longer-term yields a little bit higher with a natural rate of growth priced in a little bit higher. And you're going to see, we're not going back to the days of 0%. It's not happening. Not right now. Maybe if something breaks, we can go back to that. But we're not going back there. The Fed is not going to want to go back there, because if we go back there, you might see inflation roll back up again. Because that's not a natural course of how things work. All right. What else we got pulled up? Let's take a look. Let's talk a little bit of the Eurozone inflation. 2.4%. Now, what to keep your eye on here is we talked to our man, Teddy Kegstad. Every Wednesday, we talked to him yesterday. You can always pull up his interviews. Write it on our YouTube page, folks. Just search TFNN. Like our page. Subscribe to our page, I should say. And turn on those notifications, too. I got my six-year-old landing on my man in the house telling me, you got to turn on the notifications. I didn't have notifications turned on for all of TFNN. Shame on me. And I got the six-year-old in the house, because he's a YouTube genius telling me. You got to love youth and kids. As we get the S&Ps now off by four, I think we're going to be red by the time I get off the air in 27 minutes, folks. That is if yields don't reverse the move that they have going on right now. And you're sitting at 109.30 on the 10-year. And as you can see, on the yield curve, the Z ends the 10-year. The ZB is the 30-year. The ZF is the five-year. The ZT is the two-year. And we got lower price and higher yield up and down that curve right now. And yeah, I'm not talking about a huge pullback and a spike in yield, folks. I'm just talking about a little bit of moderation from where we've been. And you got to love when technicals line up. I mean, look at this. Areas of resistance or areas of support can turn around and become areas of support or areas of resistance. The low from March of this year, one 10-12. The high that we just hit yesterday, one 10-15. Of course, you might face a little heat there, right? That's where you also bounce back in July. A low of one 10-05. So we're right at an area that has been support. Maybe it's a little bit of resistance. We've come a far away. So don't be surprised if you get a little bit of chop today in these numbers, even though we got a beat. But boy, keep your eye on the fact that the market already priced in a beat. That's what's happening today. Keep your eye on that. The market had already priced in, but guess what? Almost on a month-over-month basis, you're talking about flat. One consumer prices. On a year-over-year basis, you're two or three. Those are strong numbers in the goal to get back to a 2% number, especially with how well the economy has fared during that time, right? All right, let's see what else we got pulled up. Yeah, we talked a little bit forward. We talked, yeah, we've kind of jumped around. All right, let's take a look at some of the equities, man, that we got moving. Look, we had as the NASDAQ goes red. All right, we're getting there. S&Ps are still positive by two. Salesforce, some strong numbers last night, right? Salesforce beats, they're trading up 9.2%. You talk about some volatility in this equity, man. Now, this is part of what's given a boost to the Dow, I believe, right? Is that correct? I believe Salesforce is in the Dow. You're talking about up 20 points, putting a lift. That's why you get the Dow up 200 points right now, up 6.10%. S&Ps up by two, NASDAQ rolling over red. And let's check in on some of those magnificent seven, because boy, if you're trading these markets right now, you got to keep your eye on yields, the dollar, which are correlated, okay, and the magnificent seven. Now, you can get a rotation, but without these stocks right now and how they may react to yields, very important for the market. It's going to be very difficult for the market to get a huge headwind in either direction if you're going against what's happening in the magnificent seven. You got Microsoft shares backing off from that high of yesterday, but still in the positive right now. We'll call it flat for Microsoft. You jump over to the Big Dog Apple, up by a quarter percent right now. We did Microsoft, Amazon shares, flat as well. We jump over to Google, up by about one-tenth. Metashare's given up some of the gains. They had quite a drop yesterday. You're talking about $10 from Metashare's dropping yesterday. The video we talked about down about half a percent right now. We jump over to Netflix, the last one to round it out, slightly in the red. Let's keep our eye on yields again. I'd be careful, folks. We're at $109.30. We're now at $109.28. We're seeing lower price, higher yield coming at you across the board right now, and the S&P's barely hanging onto those gains. Excuse me, if you break through this area, where are you going to? Where's the next price level? Maybe a nice round number of $4,500? We just traded up from $4,122 to $4,562. It's the last trading day of the month. Even if you look where we kicked things off, it has been a bang-out month for just everybody when you look at the fact that not even cherry picking the bottom, just cherry picking where we closed out October 31st. You're talking about about $4,200. You're talking about 360 points. What is that? Excuse me. That's 8.6% this month alone. You don't want to give back 40 or 60 points in the last day if you don't have to if this thing really gets accelerated. $109.27 now. Yeah. S&P's red. There you go. Folks, we've got 20 more minutes of this program. Where are we going to be? We've got S&P's red and Nasdaq 100 off by 24. We've got lots to talk about still. Stay tuned. We'll be right back. We'll be right back. Well, so it's always at your reach. 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I'm feeling good, but just a little stuffed up. So you have Williams out there saying, he expects policy to stay restrictive for some time. Now he thinks we are very, very restrictive right now. More restrictive than we've been in 25 years or something like that. Where's the line in here? Yes, estimated rates are quote unquote estimated to be the most restrictive in 25 years. Williams said in remarks at the Bretton Woods Committee Conference at the New York Fed. I expect it will be appropriate to maintain a restrictive stance for quite some time to fully restore balance and to bring inflation back to our 2% longer run goal on a sustained basis. Now, that's the wild card, okay? In terms of how persistent are they going to be before they really begin to think about cutting or start cutting and how do they go from there? If you believe his words, the market's probably repricing, mispricing how quickly the cuts may come. But here's the kicker. And this is where we've talked about it before. That's the theory, right? That if you want the policy that you have in place to do the work that it's supposed to do, okay? If you want the five and a quarter percentage overnight lending rate that they've put into place to restrict economic growth, excuse me. Then the last thing you want is to tell the market that that's going to go away real soon because all of that work will be undone by the market anticipating that a reprieve is coming in the future. So you don't have to worry about these high rates. So you don't have to be limited by them. You don't have to conserve capital by them because we're going to bring them down very soon. It diminishes the impact of what you're having. So of course they're going to be saying this stuff. And that's the tough part is that they're going to be saying it until they don't, right? There's going to be that transition that they start talking about cuts because Chairman Powell has said it, not even time to start talking about cuts, not there, not time, not now. That will change at some point. And don't be confused. Listen, I think he's probably right, right now. But you're going to hear this rhetoric even at a time that they're considering moving off of that rhetoric. And that's going to be the tough part. Now, he expects it will be appropriate to maintain a restrictive stance for quite some time. But if they're the most restrictive they've been in 25 years, they can cut a little bit and still be restrictive. So read through those words as well. It's interesting when you hear that. You're going to hear a lot of Fed speak. But be careful of thinking that when they say maintaining a restrictive stance, that that means maintaining the current policy rate. That is not what that means. So that's going to be the conversation as we shift forward. We talk a little bit of retail traders. Seen a little bit of bets that the market rally may be coming to an end. You can't deny on a monthly basis you make what, 9% we just talked about. Look at these yields continuing to drop, man. We got 109.24 right now. And what is that putting us at in the 10 year? The 10 year right now is pushing 4.35%, just like that with the S&Ps off by about 5 points. Retail traders. So this one's interesting. Cash out on a bet that the market rally is nearing an end after a strong year for stocks. And that's putting it lightly, man. Some investors argue trouble is lurking ahead for the tech giants, the fuel gains. Now, the really remarkable thing is, man, if you've crushed it, if you've pushed your limits, if you've pressed your luck, let's get back to the market. Maybe pressed your margins, whatever it is, put yourself deep into equities versus bonds or something like that. Even on an S&P basis, man, you're up almost 20% this year alone, which is just remarkable considering the run that we had last year. You've gotten almost it all back within a year and a half, just like that. Interesting to think, do you start at least putting some of that in a risk-free rate of return that's still pushing close to 5% right now depending on where you are that yield curve. The two years at about 4.7% right now. If you go into a CD, we've talked about this before, a five-year CD, excuse me, a five-year ladder where you're laddering the one-year, two-year, three-year, four-year and five-year. Looking at about 4.85, pretty awesome risk-free rate of return over a five-year basis. And this is more retirement planning, folks, depending on where you are in the age spectrum. I'm 43, I'll be 44 in March. And I have basically all my retirement money in growth stocks because I have enough time, I believe in them in the long term. Boy, it's been quite a run this year though. So if you're going to access some of that capital in the next few years, the next five years, something like that, don't be lulled into thinking that this is how it goes forever because we have been fueled and that's where the real interesting aspect of things comes in because he talks about there, Williams, that we are the most restrictive we've been in 25 years. Well, that brings you back to 1998, folks. In 1998, the S&P was trading at 1,000, okay? We just saw a trade from 666, right? 665, 75, up to 4,800. It may take more than one year, a year and a half of tightening to make sure this genie doesn't come back out of that bottle and that's probably where they're worried most, right? We've had, and we'll jump to yields to do it real well, look at where you've got to go back to, okay? Lower price equals higher yield. We're at a very low price, especially if you look at any time going back to almost where he's talking about, right? 98, 99, really since 2002, okay? We are at low price and high yield during that time, but things have been really weird since 2002, folks, okay? We've been on a path to lower yield since the 80s, basically, and we've been at a zero-rate policy for an extended period of time. You take a look at the tenure. Yeah, things look cheap as they can be. You look at this chart and you say, how can we not go up when you look at this chart in price and how do we not go back down in yield? Well, the way you don't do it is you have to calculate in that things have been exceptional during this period of time and the days of mortgages at 3% to 4% might not be back sometime soon unless we get something breaking. That's always the disclaimer here, okay? But the Fed wants to avoid that and don't get caught up in those words like you heard this morning from New York Fed Chief Williams. Restrictive for some time does not mean remaining at this policy for some time. Remaining restrictive means that they will eventually need to cut. He thinks they're the most restrictive they've been in 25 years. Well, they can probably cut by a quarter and things will still be okay, right? Maybe that's what he's saying at the meetings. So be nimble, be quick. Keep those spikes up on your back, man, because you're gonna hear a lot of that Fed speak. You're gonna hear a lot of the Fed speak that comes out like I've talked about saying, no reason to cut yet and they gotta pound the drum, man. They gotta pound the drum and make sure that they don't get ahead of themselves to make sure that policy rate that they have stays impactful on the markets. All right, we got S&Ps barely in the red. You got the Dow crushing higher with sales force numbers up by 8.2% for the Dow and you got the Russell basically flat at 1807 right now. We jump over to crude up by 90 pennies and gold getting a little bit of a pullback today with a strong dollar. You got gold off by about $12 right now with 2054. If you haven't checked out the gold report, folks, check it out. Great time to do it. We jump over to that 10 year right now down about 16 ticks. You get the 10 year yield 4.35%, 4.35% right now. All right, folks, as our man Basil Chapman says the day is young. He was in there earlier. We're going to get a double click day. Two click day. We'll find out. He's coming up at 10. I got one more segment. Don't go away, folks. We'll be right back. The gold report. As a precious metal, gold is still king. It continues to hold the most effective safe haven and hedging properties across the global major trading hubs of the London OTC market, the US futures market, and the Shanghai Gold Exchange. The gold report. Tom O'Brien publishes his weekly gold report every Monday morning for subscribers, consisting of coverage of the XAU, HUI, GDX, the Dollar, Bonds, the South African Rand, as well as 25 different mining equities with specific buy sell recommendations. The gold report. New subscribers get a 30 day money back guarantee so you have nothing to risk. Subscribe to Tom O'Brien's Gold Report newsletter now. At TFNN.com You might think that if you want to be successful at trading in the stock market, you're going to need a crystal ball. After all, it's impossible to predict the future, right? Like any endeavor in life, before you decide it's impossible, get some advice from the experts. You might find that it's not so impossible after all. For daily market overviews that give you direction on the key indices, selective stocks, and commodities, subscribe to the opening call newsletter at TFNN.com. The opening call newsletter is written by Basil Chapman, creator of the trading methodology known as the Chapman Wave. The Chapman Wave up-down sequence gives you an edge in identifying price turns, finding the peaks and valleys in stock prices. Get the opening call newsletter by Basil Chapman in your inbox every day. First time subscribers also get a 30 day money back guarantee. If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up. TFNN.com Educating investors. Everything in the universe is governed by the Fibonacci sequence. This mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market. To stay on top of stock patterns you can take advantage of, sign up for the Fibonacci 24-7 newsletter at TFNN.com. When you subscribe, you'll get a weekly report from veteran day trader Larry Pesavento on stocks you need to pay attention to and you can trust Larry's analysis. After all, he's got 45 years experience as a day trader. Larry will also provide daily charts, videos, and data on the key markets that he's tracking. Expect notifications from Larry on market movement you need to act on at any time. First time subscribers also get a 30 day money back guarantee. If you're not satisfied, let us know and you'll get a full refund in 30 days of signing up. Subscribe to the Fibonacci 24-7 newsletter today. TFNN.com Educating Investors The Fibonacci 24-7 newsletter at TFNN.com It's been sent to us in the Dow, the height earlier this year what are we talking about? Yeah, less than 100 points from where we're trading at right now. Look at the Dow. Dow is up over 3,000 points from where it was trading at that October low. Remarkable. We jump back to yields we've been talking about on the program. The 10 year, back to a five minute chart 109.26 right now so keep your eye on yields. As you see, we've seen a little bit of a pause in the pullback in price there. index, pretty similar action with the yields, right? We get a size almost 103.60, we're at 103.46 right now in that dollar index. And yeah, let's check around to some of those fang stocks. As we get the Nasdaq 100, look at Apple, man, just gave up a dollar on the open. Apple shares down by 30 pennies with the Nasdaq 100 negative territory. Microsoft down by 30 pennies as well. Amazon shares, they're up by, excuse me, off by three tenths percent. Nvidia shares, they're off by a full percent right now. Meta shares, yeah, all of them, they're all the red, man. Meta shares off by eight tenths percent. Tesla off by a percent right now. Netflix, slightly in the positive. The streamer's dizzy, slightly in the positive as well. All right, folks, stay tuned. It's going to be an interesting day. As we said, keep your eye on those yields, on the dollar, on the markets. You're going to have Basel Chapman jumping in at 10 o'clock with the Tiger Technicians Hour. Stay tuned for him. He's been ready to go prime. He's been in there at eight in the morning, man, on the Tiger's Den. Folks, I appreciate you joining my program, kicking things off at nine o'clock. I look forward to talking to you tomorrow. Stay tuned. We've got Basel coming up. We've got our man Steve Rhodes. We've got Fast Market at 12 o'clock with our man Kevin Hinks. Larry Pizzavento live at one o'clock and my dad live from three to four to wrap things up. S&Ps, we got to negative, but we're back in the positive. As Basel says, the day is young. Stay tuned for Basel, folks. Have a great Thursday. I look forward to seeing you back here tomorrow morning. Thanks, folks.