 The following is a presentation of TFNN, big market kickoff with your host, Tommy O'Brien. Good Friday morning everybody. I'm Tommy O'Brien, coming to you live from TFNN 8.30 AM, 60 minutes to go until the opening bell, final trading day of the week, final trading day of the month of May. Right now you have the S&Ps, a negative 11 points trading at 3,027, NASDAQ 100 positive by 5, trading at 94.64, the Dow negative by 155, excuse me, 145 points, trading at 25,323. Oil contract backing off a bit off 56 cents at 3,316. That's off of the lows we had earlier this morning. Gold contract catching a bid trading higher 17.45 for the price of gold. Silver up 33 cents at 18.30, we'll start things off, we'll start it off with the chart of the VIX. Prices of earnings going on this morning or last night as well, we'll get into those. The VIX right now, 29.14. Start things off, we'll jump over the charts, jump through the indices, we'll start it off with the Dow. Dow Jones 25,321, you back it up to yesterday's action, trading lower and we've just kind of been hanging out at this level since about 8 o'clock last night with the trading range of about from 25,300 to 25.4, we're approaching the lower end of that range. NASDAQ 100, a little bit of a different story, 94.68 right now, breaking out of where we were most of last night, S&Ps 3,027, approaching the upper bound that we had last evening, that level being about 3,035. There's crude oil, $33.13, gold catching a bit at 17.46 and the euro US dollar, trading at 1.1135. In terms of headlines out there, we have going on, so you have a press conference with President Trump this afternoon, he's gonna be talking China, he's probably gonna be talking domestic issues as well, which we'll get into, see how that shapes the market, see what time he comes on at, what he's talking about with China. That press conference could mark the end of his cautious approach to Beijing, that would be putting it lightly, I would say, and we just had something go on my screen. Give me one moment, folks, while I get that back, that was a little funky. I'm using a couple monitors here, and for some reason, that monitor just decided to say, I've had enough, but we're gonna get it back, we'll go there, we'll go there, back to the story. So there's your China headline, there'll be a press conference this afternoon. Yesterday, President Trump signing an executive order coming after the social media companies, Twitter overnight flagged a tweet in regards to Minneapolis for glorifying violence. That tweet, they have it in there, and that's gonna be a continuing topic. Nonetheless, you did have people shot overnight and some pretty over-the-top riots, not okay on either front, but you might say that when the looting starts, the shooting starts, that is the President of the United States. That also might not be okay in some opinion. That, though, hitting Twitter, let's see how those social media companies, as we pull this over as well. TWTR, Twitter shares spiking to a low of 3102. Right now, you're gonna open about 25 cents lower Facebook shares. Zuckerberg coming out against Twitter, Facebook trading higher yesterday. Facebook actually pretty much right where we closed at as of yesterday. Okay, let's get right into the earnings. We got a lot of stocks moving this morning. You had big lots out with their numbers. The latest discount retailer reporting a strong quarter amid the pandemic. Earning adjusted $1.26 a share compared with 40 cents estimate. Revenue exceeded forecast as well with the same store sales jumping 10.3%. Their symbol, what is their symbol? Lot, right? Is it big? There it is, BIG, of course. You see those shares trading higher on that news to about 41.03. The next one we're gonna get into is Canopy Growth. I've talked a lot about this company. I might be reevaluating things a little bit. Tough quarter for Canopy and the market making them pay for it. Last night, interestingly enough, you charged higher right into the close. You traded from 22 to 23 almost overnight. You spiked to 23.90 for a mere few seconds on the news. And then we cascade lower as they missed in a big way on both fronts. Backing this up, I believe they're next. There they are. Canopy lost $3.72 a share in the fourth quarter including $743 million in impairment, in restructuring charges. Analysts were looking for a loss of 59 cents. Revenue was showed a forecast and the company said fiscal 2021 will be a transition year. Not what you wanna hear, right? If you're a sports team fan and you have your general manager come out and say next year is gonna be a transition year, not likely you're gonna be competing for a title. Not what you wanna hear along with a miss on revenue and on earnings. Can it be withdrawing its financial outlook? That seems to be part of the course, but can it be hitting some volatility to the downside? Now for some context here, we're gonna open at 1760 again. But even just recently, right? During the pandemic collapse, we go from about 23 to maybe 25. We trade down to nine, quite a pop that we just had from May 14th. You just go from $13 essentially up to 21. So you're gonna open today right at about this level, which was the level we were trading at at the peak in about April 28th as well. See how the market handles that, not a good quarter. For can it be growth though for sure? Costco out with their numbers, quarterly profit of $1.89 a share, 6 cents below estimates, revenue slightly above. They saw comp sales fall in April for the first time in over a decade as social distancing rules limited visits following a pandemic. That surprised me. I mean, Costco, weren't people supposed to be stocking up and so forth? Now that's the daily but factoring in the action this morning. There you see the drop off on their numbers after the bell from 311 to 30390 on Costco with a little bit of a miss. Nordstrom lost 333 a share for the latest quarter, more than triple the consensus estimate of $1.07. Revenue also missed estimates. Nationwide lockdown shut its stores. Overall sales were down almost 40% during the quarter. JWN, I believe it's their symbol. So there were their numbers last night. Looks like that was pretty priced in as you're only down a bit, 40 pennies with the S&Ps down about 14 points today. William Sonoma reported adjusted quarterly earning 74 cents a share. How about storing past the consensus of three cents? Revenue also above forecast. Retail was helped by a surge in online sales. Household essentials in demand amid widespread sheltering at home. Makes sense. Home goods, William Sonoma. There's your acceleration from almost 72 up to 82 on the dot last night. Right now we're treating it about 79 and 50. I mean, some of these homeware. You don't want to call them homeware for a company like Lowe's, but remarkable, right? Lowe's tanks so hard from 123 down to 60 more than cut in half. We're going to open today about 129. You reach 131. Home Depot, the likes. Home Depot from 245 down to 140 right back to 245. These are the stores and why not? We'll check in some of the big box retailers as we wrap up this first segment. Target from 130 down to about 90. We're going to open today at 118. Walmart has had quite a run. We're going to open basically flat today at 123.50. We were all weighed to 105. And Amazon maybe the biggest, whoops. Amazon maybe the biggest rebound of them all. You tank from 21.50 down to 16.26. This morning we're going to open a bit higher with the market pulling back. Amazon up about 15 bucks. Let's put it on a shorter timeframe. And there's your action on Amazon at 24.17 this morning. Stay tuned, folks. We'll be coming back. See what else we have on tap for Friday action. We've got more companies with earnings. We'll be right back in three minutes. Many of our new listeners have heard about The Tiger's Den. The Tiger's Den is a lively community where professional traders and investors can meet, exchange ideas and information in a comfortable, moderated atmosphere. Hear all of the TFNN shows, plus see all of the charts as they happen live and have access to archives of all of those charts. You can test drive The Tiger's Den absolutely free for 30 days and greatly enrich your knowledge of these markets and how to make your money work for you. Details on The Tiger's Den are on the front page of TFNN.com. The Gold Market has taken off topside in a large way in 2020. If you want to take advantage of this sector, now is the time to subscribe to my Gold Report. 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It certainly doesn't feel like it was oil's best month ever. And I would agree with that. But from where we've been, it certainly is. Month to date, West Texas Intermediate on track for best month ever, 74%. The biggest month prior to that, 44%. Talk about outlier, lots of outliers going on in the month of April folks. Excuse me, in the month of April and in the month of May. Oil though, still down 46%. You see the acceleration there on those numbers compared to the 90s, late 80s. We had some big months there in the price of oil in the 90s. But nonetheless, we charge higher, 74%. It looks like an oil right now down a bit, but holding relatively well at $33. Other stories out there, how about the rush to raise some cash at a time of record low interest rates. So corporations have now raised $1 trillion in the bond market amid Fed backstop, double the pace of last year. Flanked by the Fed's programs, companies are racing to issue new debt to restructure existing debt. Paydown bank lines are just raised cash to weather the recession. And get into the numbers with another roughly $39.2 billion in investment grade issuance for the week so far. The total year to date crossed the $1 trillion threshold this week of the $1.038 trillion in the new issuance. $706.9 billion of the debt rolled out in the nine weeks since the Fed announced it would support the corporate bond market on March 23rd. Credit flow research said there would also remember for the $160 billion in high yields, quite a number. The Fed, when they come into the market and they make things as easy as they have, that market loosening up. And you'd be smart if you're a corporation to access that market right now with rates where they are, the Fed coming in, supporting that market, so forth. Jumping back to some of the different equities with action today so far. Sales force, so we didn't cover them yet? Are we back yet? We started with Williamson over. Beat estimates by a penny. Adjusted quarterly earnings of $0.70 a share. This is last night after the bell. The revenue slightly above estimates as well. The however the company cut its annual profit and revenue forecast due in part to allowing clients to defer payments as well as paying one time commissions to its sales team. Little bit of volatility priced into that business plan I guess. CRM, there's your drop off though from 182 to 175. Looks like beating but barely by beating. Market may be looking for more as a lot of online action going on during the lockdown. Alta Beauty, they lost $1.39 a share. Surprising analysts who had predicted a 48 cents a share profit. Revenue missed estimates as well. Not surprising if you've missed by that much on the profit as the cosmetics retailers comp sales say 35% Alta. And you see the spike to 230 but whatever they talked about on that conference call beginning last night at 5 o'clock the stock trades from 236. And we're actually in the positive right now at 245. Pretty remarkable on that front. Dell Technologies, they're out with their earnings $1.34 a share. Beating consensus estimates of 92. Revenue beating as well. Dell shares spiking higher from 46 up to almost 50 at 4832. Checking in on that canopy, still at about 1750. Canopy I believe their conference call begins at 10 o'clock live this morning. GM will increase North American production next week adding shifts to plans to produce crossover vehicles. You have Eli Lilly winning FDA approval for its radioactive agent that can detect a key marker for Alzheimer's disease. What is their symbol again? LLY, let's see how they're turning this morning on Friday. Up a bit to 151.98. We're gonna get you out. Let's look for AstraZeneca AZN. The drugmaker reported success in a phase three trial involving the use of its Tagriso lung cancer drug to treat epidermal growth factor receptor. EGFR mutated lung cancer AZN. That is good news on just a human front from 53.50 up to 57 which ran about 55.38. And Tyson Foods, the meat producer, would temporarily close its Storm Lake Iowa pork processing plant after 555 employees tested positive. That is quite a number. Plants to resume operations next week after additional deep cleaning and sanitizing of the plant takes place. Tyson dealing with a lot of woes. The meat industry in general dealing with a lot. So Tyson coming off their dividend as there as well. 42 pennies were at 61.79. Currently we closed in about 62.24. Chopping around to some of the stocks as well with headlines. I know Tesla. I had a story up here in terms of Tesla and SpaceX. So Tesla sent 20 staffers to SpaceX. Elon Musk's other company the filing showed. They said yesterday it temporarily signed 20 of its employees to SpaceX to handle unspecified technical projects. Elon's the CEO of both and the company's currently share three other board members in April. Tesla revealed that it had been selling car components and working on other special products for SpaceX. These are a private company that's not a big deal because he's the owner of both of them practically. But not what I'd want to hear if I was a Tesla shareholder. I have zero interest actually as a Tesla shareholder in the success of SpaceX at least financially. And an interesting story nonetheless. SpaceX their launch scrapped earlier in the week. They're scheduled to go Saturday being in Florida myself. I'm going to try and check it out. I believe it's somewhere between about three o'clock and four o'clock Saturday. If that one happens to get scrubbed because of weather they're going to come back at it on Sunday at about three o'clock as well and give that another try. Checking in on that gold contract 1743 remarkable. The number we hit 1700 on the dot earlier this week on Tuesday to the penny 1700. We're currently trading at about 1743 30. Jumping around to some of the fang stocks. Amazon shares 2417 excuse me clearing that through. Microsoft shares 182.60 from 181.40 all these stocks when the S&Ps are down you have some of the stocks that have really succeeded trading higher right. Microsoft shares up a bit this morning. You have Amazon shares up marginally this morning. Let's check in on Google. Google shares down a bit 1412. I would say Facebook but they're in anomaly this morning with what's going on with social media. Facebook up a bit still 225 call it flat. Twitter shares again. Twitter trading at 3127 31.60 keeping mind. Twitter is probably going to have some serious volatility with the presidential press conference going on this afternoon. I imagine that they will be mentioned along with many other things during that press conference. Not sure what time that is at just yet. Checking in on silver quite a charge for silver right. Silver and 1719 the low were up to 1827. Putting this on a little bit of a longer time frame. I mean you back this up. We're now at this level that we've been floating at. I mean we peaked above here to 1975. But if you're pulling highs we're talking about 1866 is probably an area where we're touching the highs that we had back in August of 19 September of 19. Got back up there in January of this year. Got back up there again in February of this year. We trade all the way down from 18 to 1164 at the depths of the pandemic. And right now silver's trading at about 1828. Checking in on that VIX. Quite the drop in the VIX. Things have teetered off. I mean we really peaked out calming a bit. We've been down at this level. Coming into some summer trading this morning though. A little bit of elevation on the S&Ps now down almost 15 points. Stay tuned folks. I'll be right back to finish up the program. See what else we have on tap for the final trading day of May. Right back. Back in the day I joined Hotel California in 2006 and like many of you was drawn in by as well as whatever you think about you bring about whatever you focus on grows. 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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 for the latest market information. Welcome back folks. S&P is negative by about 11 points right now. NASDAQ ticking positive by one point as we speak. Jumping back to the news of the morning, how about this? US savings rate hits a record 33% as the coronavirus causes Americans to stockpile cash and curb spending. That would be the wise move folks. Make sure you have some money saved so that if things happen that are out of your control, you'll be okay. Quite a rate though. The personal savings rate hit a historic 33% in April. The US Bureau of Economic Analysis said Friday this rate, how much people save as a percentage of their disposable income, is by far the highest since the department started tracking in the 1960s and surpasses consumer savings during the global financial crisis. April's print is up 12.7% in March. Quite a price tag there. The previous record savings rate 17.3% in May 1975. Makes sense. You don't have to buy anything that you don't need right now when things are shut down. Not the time to be spending money carelessly. Make sure you're okay. Make sure your job's okay. Make sure your finances are okay. Make sure that that real estate market's okay in the next year if that's what you're relying on. Make sure your rental income is okay if you have any tenants, etc. As that goes. So EA Sports gets a little bit of a boost. NFL owners approve renewal with Electronic Arts. Ease distribution rule for CBS and Fox games. So NFL team owners approve the renewal of the NFL's exclusive video game rights with Electronic Arts, which produces the popular Madden NFL football series. They also eased restrictions on how many games CBS and Fox can broadcast on Sundays. Wonder how that will play into things. Hopefully we get some sports back even if the place isn't packed with fans. I want to see some football, man. I want to see some hockey, right? Playoff hockey, 24 teams. I think you will continue to see us push how we can get more football to fans on an easy access basis. More games on Sunday, bring it on. And let's jump over to EA as we come into this Friday morning. Electronic Arts trading up a bit to 121.80. Stay tuned, folks. Larry Pezzavento coming up live with Trade What You See. I'll be back at 10 o'clock with Tom. Live programming all Friday at TFNN. We'll be right back, folks.