 Following is a presentation of TFNN. The Morning Market Kickoff with your host, Tommy O'Brien. Good Tuesday 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. And it's gonna be a wild one, as usual, folks. We're already getting some volatility this morning. Boy, you look at the action on Friday, right? The action we got yesterday, pails in comparison. When you traded about 200 points from the highs we had Friday to where we opened the session on Sunday night, from about 42.17 down to about 4,020. We almost got a 3,900 handle in the futures. Early Sunday, last yesterday, chopping around at 4,020. Opened my eyes this morning, between about five and six in the morning. I said, man, market's charging higher, right? We got S&Ps up about 30 points, 35 points. I saw them right then. I said, okay, maybe clawing back some of the losses on Friday, not quite getting it done yesterday. Maybe the market taking a moment to reconsider the sell-off that they had on Friday. But guess what, folks? Give it a few hours, and that's not the story, man. We're only up 13 points right now. We're trading at 4,044 on the S&Ps, keeping in mind Friday's action. We were above 4,200 on the highs on Friday. NASDAQ 100, we've been giving back some of those gains as well. We were up at 12,660. We've given up 100 points from the overnight highs. We're still up by 64, that's half a percent. But boy, you had the NASDAQ 100 pushing 150 points in the positive, even 160 points in the positive when we got that acceleration at about 4 a.m. Eastern time. The Dow this morning up about 92 points, 32,167. Crude with some volatility continuing, man. Crude from 97.66 down to 94.49. Excuse me, let's jump over to the DXY, 108.62. You talk about some volatility. Excuse me, volatility Friday up through Monday. Monday's action chopping around about 108.80. And we're sitting just under that level down about 21 ticks on the dollar index. We jump over to gold, negative about $7 this morning on gold at 17.42. I'm gonna take off this short-term Fibonacci. I'm gonna pull this back on a weekly, pull it back even for on a five-year weekly. What I wanted to get to on this gold contract is, we are approaching a level here that we've seen as support. Now, you're at the 3-8-2 of the entire run higher, which is pretty cool. When you look at where it was in 2018 from 1167, you trade up to a high during COVID, the year 2020, at 2089. Since then, the gold contract, and you're looking at a chart now that for the better part of a year and a half, we've found an area of support, whether it's 1742, or you could say the 1700 area. So you're talking about a $40 range where this thing is found support. Once you enter the 1740 area, down to about 1700, the 3-8-2 lines up at 1743 in that area, then the less gold coming right into that area right now at 1743, we got dollar strength, sitting right at almost 109 on the dollar index. Big numbers, man. Let's jump over to the yen real quick. We're talking gold, because the yen has been on fire, man. We talked to our man, Teddy Kegsdad, tomorrow at 40 past the hour. If you haven't checked out the Tiger Forex Report, folks, Forex controlling a lot of what's going on right now, you control Forex, you control yields, and the markets that are related therefore, everything is interrelated, folks. We're all getting a lesson in the Tiger's Den yesterday, saying we're all gonna become commodities traders. Yeah, we're getting a real lesson in terms of how currencies are affected by yields, which are affected by central banks, which are affected, of course, by inflation in the economy, all of that combining to impact the effect of markets, commodities, et cetera, all interrelated in many ways, and we're getting a real lesson. The yen, I mean, you're seeing yen weakness, dollar strength, that gonna play onto a tough scenario for gold when you have the yen charging higher up to basically highs of 139 recently. Remarkable when you look at the yen trading at 115 in March. Now, for some context here, okay, the gold contract in March was pushing 2000 or so, so very related, right? You better have some idea of what's gonna happen with the dollar, with the dollar yen if you're trading the gold contract, because if you see the yen spiking above that area, then yeah, gold is gonna face some tough woes, man. If you see the yen trading above 139, 140, the other way to consider this is maybe you see this as a double top in yen. If that's a case, gold should get a lift from that 1740, $1700 era. If you haven't checked out the gold report, folks, my dad's newsletter, weekly newsletter, check that out as well. We got a sale going on, say 50% off your first month right on the front page of TFNN. That sale only runs through this coming weekend, long weekend, as we end the summer, pretty remarkable. All right, let's jump around some of the headlines we got pulled up this morning. We'll start it off with J.P. Morgan. The Bulls of Wall Street, we'll call them. They are somewhat alone in this call, and I'll put it that way, but it is interesting. Now, they're focusing on jobless claims, and I'm pointing this out because I think this is an example of skewed data, and if this is the bullish case on stocks, then you better watch out, folks, because they're talking about jobless claims indicating a potential rally over the next 12 months, a reading of the labor market that spells bad news for the economy is actually bullish. Weekly's jobless claims are tracking more than 10% higher than the prevailing three-month average. Historically, that's been associated with the recession every single time. Here's where I'll stop you there, okay? You're 10% higher. Percentages on small numbers can be deceiving. I say it all the time, folks. Percentages on small numbers can be deceiving. Why do I say that in this case? Because we just had jobless claims dropped to like 190, maybe 200, right? What was the low? Something like that, 207, 203, were we in the 180s, 190s one week or two? We might have been. Maybe they have the chart down here. But the point being is that's not even indicative of a healthy economy as in that's beyond a healthy economy. That's probably indicative of economy that's heating up too much that risks inflation, which is where we are. So the point being is we have weekly jobless claims tracking higher, but you could make the case, but they're just tracking higher back to a new normal of where they should be because historically, they charge so low as we were coming out of the pandemic. So if this is the bull case, and that's what they're basing it on, that's kind of dicey, folks. Historically, that's when associated with the recession every single time. Still, the S&P 500 has tended to gain 11% on average following the following 12 months, citing data going back to 1970. So they're saying we have a weekly jobless claim number that's 10% higher from the prevailing three month average. And historically, every time that's happened, we have a recession coming. But the markets had already priced that in. And so what had happened is the markets gained 11% in the next year, every time that happened, because probably the market had priced it in. If you start hearing stuff like that, folks, keep in mind, okay, that yes, you never wanna say this time, it's different, okay? But when you're basing it off something like weekly jobless claims that have been skewed pretty dramatically coming out of the pandemic, and you're talking about only tracking 10% higher than the prevailing three month average, percentages on small numbers that can be really deceiving, folks. That would be akin to what if jobless claims went down to 100,000, because we were coming out of the pandemic, and then what did they do? They inched up to 110,000. They say, oh my goodness, that's 10% higher. Yeah, it's only 10,000 jobs, all right? Small numbers, percentages, very deceiving. I wanted to bring that up because anytime I'm seeing a bull case made, because it's so easy to make the bear case right now, show me the bull case, right? This is the bull case? I don't think that's a good bull case, man. There might be some good bull cases out there, but I'm not gonna base it off of a 10% rise in weekly jobless claims, somehow historically indicating that we got double digit returns coming over the next 12 months. S&Ps, folks, we're positive by 15. We got the NASDAQ 100 positive by 82. All the markets in the green, we'll be coming back, talking to our man, Kevin Hinks from TD Ameritrade Network, Fast Market, we'll be right back, folks, don't miss it. VistaGold owns and operates the largest undeveloped gold project in Australia, the Mount Todd Gold Project. VistaGold just completed their feasibility study, resulting in a 7 million-ounce gold reserve. 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We got all the markets in the green right now, but given up some of those gains over the last few hours of trading, let's jump over to our man, Kevin Hinks. We talk to Kevin every Tuesday, Wednesday, Thursday, folks. You can watch his outstanding program, Fast Market, every trading day at 12 noon Eastern time. Kevin Hinks, Tom White, the team at TD Ameritrade Network. They break down the day's market action, folks, for the entire hour, 12 to one. They walk you through hypothetical trade setups, talking about options, talking about defined risk in every trade setup they have, great way to learn that market. Kevin Hinks, good morning. Good morning, Tommy O'Brien. Interesting start to the day, a very resilient market we have here with, it seems like some of the data working against the market, but it's Crude Oil. Look at the move in Crude Oil this morning, a little bit straight. There's a heavyweight battle going on right now Crude Oil, Tommy, with all the stories out of Europe and Germany and the complete disaster that their energy markets appear to be in, with the counter argument of recession and inflation and what that's doing to the overall demand side of the ledger for Crude Oil. And so, the big rally that we had yesterday followed by a little bit of good news from Germany that they're doing a better job of collecting and getting stockpiles in their energy. We'll see if that plays out. I still think Crude Oil has got some significant issues going into the fall and winter, Tommy. So, we're gonna watch Crude Oil real close, a pretty resilient stock market. Tommy, Sunday night when the future's open, the least surprising thing of my entire weekend was that they were gonna open lower after what happened Friday. But since then, they've been fairly resilient and starting, at least starting the day today in the green on all four major industries. Yeah, I like to take Man's Sunday night. I found myself opening the Thinkorswim app on my mobile phone, Kevin. And I was cringing a little bit at about 10 past six. You know, thinking where are they gonna be, man? And they were only 10, 15 points down, even that, right? I said, okay, all right, not that bad with how the market charged lower on Friday and we're sitting basically kind of where we closed out Friday's action right now. Not too bad considering the absolute destruction that we got on Friday. It was interesting, man. We talked to you Tuesday and Wednesday, Thursday. I always say, because we get so much great economic data sometimes on Fridays in particular. See, Kevin, we're gonna know a lot more about this market the next time I talk to you, man. And since we haven't talked to you since the Chairman's speech, what did you think about the eight-minute speech and how the market took about 60 seconds to maybe two minutes after the Chairman's speech to kind of figure out where they wanted to go? But what is your take as we come into September and even next year with what the Chairman had to say, man, about, you know, longer rates, staying forward, or do you imagine that's just the message and meander as we go out through the future? Yeah, I think the surprising thing, the thing that surprised the markets was his overall tone and how almost angry he was when he spoke for eight minutes. And Tommy, think about, put yourself in Jerome Powell's position, right? He, his number one job is to fight inflation. And he raised rates by a quarter, 25 basis points in March, by 50 basis points in May, 75 in June, 75 in July. Tommy, and since the July meeting, the administration has spent about 1.1 trillion dollars in terms of inflation reduction act spending and the forgiveness of student loans. So if you're Jerome Powell, you got to be saying, I'm killing myself here trying to fight inflation and you're not helping. So I think that was part of his tone that he gave. And it was really interesting and I felt the markets, like I said, he put away the feather and brought out the hammer on Friday, Tommy. And I think that's what the market's cut off of. Rates are gonna go up and they're not gonna go back down after that. Yeah, I was watching the eight minute speech and there were a couple of moments where I said, ooh, and I quickly missed it at the futures, to see, oh, I said, oh, and they were okay. And then they bounced. I said, ah, maybe I'm just reading it wrong, but there were a few wild moments there just the phrases of the eight minutes and how strong and direct I thought he was. But the market took a few minutes and I think they agreed on that path. We go from there, Kevin. We're coming into a long weekend and then we come into September, man. We start getting economic numbers for the month of August. We go right into a Fed meeting. That's all the focus right now. We get the tenure at about 3.1%. We still got some earnings coming out. What are you guys talking about on fast market at 12 today? Two companies with earnings coming out after the bell today, Tommy, CrowdStrike and Chewy, the online pet supplies company. And then in the third, we'll trade Boeing. Boeing's slowly but surely starting to emerge from these problems that they've had. They're delivering planes. All the numbers for Boeing seem to go up. So we'll trade Boeing in the third segment. The other two earnings before the open tomorrow morning. Yeah, CrowdStrike, Chewy, two great companies, but we've had some pullbacks, man. CrowdStrike almost up to 300 last year. We're trading at 192. Chewy, the food delivery business. Boy, I got a downtrend channel on my chart, Kevin, going back all the way to February of 2021 and $121. We just touched the upper portion of that trend line at about 50 bucks. We're sitting at 38. And yeah, Boeing, you talk about a bounce here. In June, you're trading at 113. We're at 165. I have it back within the channel line that it was kind of trading in in the better part of 2021. Give us a little teaser of Boeing, if you can, Kevin, at 165, we started the year off at about 200. Is this a longer term game? Maybe for investors that America needs an airline, not an airline, excuse me, a plane maker as in Airbus and Boeing. So I imagine at some point in the future, or do you see maybe a potential for even a shorter term run to the upside still from 165? Put you on the spot a little on Boeing. Boeing sold off, Tommy, because the drip, drip, drip of news stories was all negative, right? The 787 Dreamliner, the 737 MAX, all the problems with management and overall, but now it's kind of reversed and the news is all pretty positive, right? The recent confirmation of the 787 Dreamliner, remember, Tommy, they have 120 of those sitting already built. And when they get each one certified and are able to deliver that, they've already started to deliver the planes, that is pre-cash flow coming into that company. So with that and the constant upgrades and the more production of the 737 MAX, which is their bread and butter, that's the one, that's gonna be their big seller. This company's on the verge of starting a pretty significant comeback here, Tommy. I appreciate the take, man. It's remarkable when you put this thing on a chart. I just put it on a monthly on the thinkorswim platform, man. You're almost back to the COVID loads in terms of that acceleration, but you actually almost made it back this year alone to where Boeing was trading at in 2007, let alone the highs that we had on the run-up. And yeah, I imagine at some point, man, they're getting their ducks in order and it seems like I see more and more orders. I saw something about Taiwan, I believe, right? Yesterday, the last couple of days or something, ordering Boeing 737s. Well, Kevin, we appreciate the time you take with us Tuesday, Wednesday, Thursday. We'll be watching at 12 o'clock today, man. You have a great one. Thanks for having me on, Tommy. You have a great day. Always a pleasure. Folks, check it out. They're gonna be talking about three great stocks, CrowdStrike, Chewy and Boeing. Yeah, Boeing's an interesting one, man. Been looking at that for a while. Maybe it's a back within that trend line channel. Check out the program. They'll be talking about it today on Fast Market at 12. 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Watch online at TFNN.com or on TFNN's YouTube channel and become the investor you were born to be. TFNN. Educating investors. This segment is brought to you by Think or Swim. For more information, just click the Think or Swim banner on the front page of TFNN.com. Welcome back, folks. We are the S&Ps. We open up 13 points. 4044, you're looking at an Azdeck up by 67, Dow up by 101, all the markets off of the highs you had overnight. Let's jump over to Apple. We had a question in the YouTube tiger stand from our man Bessford talking about Apple and where we see it potentially going. So Apple quite a pullback from where it was Friday. Overnight, you catch a little bit of a bid with the market. You give some of that back. We open about two-thirds percent in the positive. You take a look at Apple, even on a weekly, okay, real quick. Weekly, from the COVID lows of $54 up to a high of 182. Where do you pull back to? You bounce right at the 3-8-2, folks. How about that, right? The June lows in the market. You pull back to 132. This thing charges higher. Now, the one thing I talked about, man, we're going to go back to it daily real quick. Apple's got 16 billion shares outstanding. And this equity traded from, we'll call it 130 for simple math, up to 175. You're talking about $45. $45, I have to do it in my head, right? $45 for a company that has 16 billion shares outstanding. So what is that? 16, 32, 48, 64, 64, $720 billion in market cap, Apple added from where it was in June up to where it was on August 17th, about two months. You hear that? Yeah, that's right, right? Yeah, I had to do the numbers in my head, 16, 326, 40. Yeah, about $700 billion in market cap, Apple added from where you were in June up to the highs you just made in August. Let's take a look at the trend we had there. If you're talking about a pullback of this recent run lower, 158 would be the 382, we made it to a low about 160, pretty close to that, excuse me, pretty close to that net level. Now the one thing I'll say, we'll take this off of clarity. Let me take that Fibonacci number off. Looking at some volume numbers. The day of August 17th when it made a tie, 79,542,000 shares traded. Actually more volume than Friday's acceleration lower. That's pretty insane. When you think about the move that we had on Friday, the volume we had in the markets, the acceleration of markets trading 3 to 4% lower. Apple, the biggest stock out there, trades down about $8 almost, $7. That alone, $100 billion in market cap wiped out, but what happened? You couldn't even do more volume than you did at the high. Apple has been overperforming this market consistently in terms of you got the S&P 800 points off of the high. You do have Apple now 20 points off of this high, but to back things out, the high is $182.94. You're $20 off that price level. That's about an 11% or 12% pullback from where you were. Folks, NASDAQ 100 was at $16,500. You're 4,000 points off. NASDAQ 100 is 25% off of the highs, and you got Apple sitting 11% or 12% off the highs. S&Ps are about 18% off the highs. If you're looking for somewhere to hide, Apple could be a good spot. The one tough thing is you just accelerated and added $700 billion in market cap over the period of two months. If you're looking to get in Apple, you can scale in. Maybe you wait for it to backtrack a bit with the market trading at 4,000. The one thing I'll say, folks, is that we have a dicey scenario leading up to the next Fed meeting, I would say. The economic data, when we get non-farm payrolls, and we'll go over this after the next break, I'll pull the dates. You get non-farm payrolls. You get CPI data. Those are going to be two very important numbers as we come into the Fed meeting. Now, as I mentioned, we're coming into a long weekend. We're going to go away for the long weekend. We're going to come back on Tuesday, and we have two weeks until that Fed meeting. The market is going to get ahead of wherever it thinks that Fed is going. Right now, I'll tell you, the market's still sitting above 4,000, folks. There's nothing that has changed that dramatically. Okay? Look at how quickly the market dropped from 4,100 to 3,600 last time. You're talking about one, two, three, four days you traded from 4,157 down to 3,744. You lost 10% over four days. The S&P only did about 3 to 4% already. Okay? If the market really figures out that they were off on the path of the Fed, something to pay attention to, in terms of the pullback that's possible as we head into that next Fed meeting. In this market, you had overnight strength, but not since about 6 a.m., man. We're going on three and a half hours of negative prices in the S&Ps right now, and you're only positive by eight points coming into the opening bell. All right, jumping around to some of the other headlines we had up here. Morgan Stanley, so first we had, right? What do we talk about? We talked about who was it? JP Morgan talking about a potential, yes. JP Morgan is the one that's saying, potentially, that weekly jobless claims are indicative of a market that could rise over the next 12 months. Now we're going to talk about home prices. U.S. housing downturn has further to go as rates rise. The one thing I want to comment here, everybody talks about the housing market. Oh, man, is it going to cascade lower after the run that it's had higher? Not necessarily the case. A huge slowdown could just be indicative of flat prices, and that's kind of what Goldman says, especially in some markets. Weakening demand is shrinking and imbalance with housing supply and likely means that price growth will slow sharply. Just growth will slow sharply. Pay attention to those words. We expect home price growth to stall completely, averaging 0% in 2023. Folks, a lot of people are going to be A-OK with 0% in 2023 when their houses have shot up sometimes 30 to 40% over a period of two to three years. While outright declines in national home prices are possible and appear quite likely for some reasons, for some regions, let me say that again, while outright declines in national home prices are possible and appear quite likely in some regions, large declines seem unlikely. Their housing assessment comes just days after the Fed issued a first warning that they're going to be hiking those rates. In its analysis, Goldman said a sustained reduction in affordability, waning pandemic tailwind, and recent decline in purchasing intentions all point to weakening home sales. But pay attention, folks, because in a rising inflationary environment where we have a lack of supply of houses right now, rental prices are through the roof and that's not going to change. Yeah, it could pair things a bit, but not going to change dramatically. And any time you have that happening, it's going to weigh on the ability for housing prices to pull back when you have rental prices so high. It's not going to matter, okay? They're both interrelated, but keep that in mind when you hear about the demise of the housing market, especially folks when you have the wind behind your sales. I mean, in Florida, we are very fortunate in Florida to have the wind behind our sales. Even if you see a little bit of a pullback, folks, we're in a good spot. We've got people moving down to Florida. Work from anywhere, work from home. Why not come live in Florida as opposed to some of the other cost-living places that aren't as beautiful as Florida. I know I'm biased a bit, but you're seeing that play out and it's going to continue to play out. And just because the market may pause a bit, maybe you've got a 5% pullback in some area, maybe you've got some steep pullbacks in some areas, man, for sure. But overall, you need a place to live. You could make an argument that if you got investment properties everywhere, you scale that down, right? The opportunity cost of missing out right now is not that great to prevent yourself from if there is a pullback, but if you got to live in a spot, folks, and you're going to be paying rent anyway, depending on where you are and what you think of that market, probably not necessary to be thinking about selling a place if you're going to have to go rent one in the meantime. All right, folks, stay tuned. We'll be coming back in three minutes. We're going to talk a little bit of global bonds. The Bloomberg Index, within a percentage point of a pullback. What happened to fixed income, man? Look at that pullback. 20% just from where you were in March. That is the global bonds. 20%, man. 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Funds are designed to be utilized only by sophisticated investors such as traders and active investors. Distributor, foresight fund services, LLC. This program is brought to you by Vista Gold. Traded on the NYSE American and TSX under the symbol VGZ. Welcome back folks. We got the S&P's hanging out to gains by about 8 points right now. The Russell just dips into the red right now. We got Bitcoin $20,280. How about that crude contract? Kevin was talking about man some volatility. You're down more than $4. Just from where we were at 3.30 a.m. this morning right back to where we were yesterday, crude. $4 up, $4 down right in 24 hours time. Go contract down about $7 at $17.42. We jumped to notes and bonds. You catch a little bit of a pop there. The 10-year up by 5 ticks so far this morning, that's your 9.30 bar. These are 15-minute bars. So the last 12 minutes or so we're getting higher price and lower yield coming at you. We're talking about a yield right now. 3.08% the yield on the 10-year, the 30-year up about 15 ticks right now, $136.16. And I jump over the story I was talking about, man, global bonds talking about a bear market and not surprising folks when you had everywhere you had interest rates at zero to negative all over the place. Bloomberg index within a percentage point of a 20% fall from the peak that would be a bear market and that's tracking total returns from investment, grade, government and corporate bonds within a percentage point of 20% from its peak. Now that peak yes, is almost January of 2021. Okay, things have been sliding. You see the real drop-off really starts. Yeah, you were at minus 5% coming into this year. Now you're at minus 20. So there was a slow slide for 2021 but things really accelerating now and just for some context here we're going to take the 30-year we're going to put that on a 5-year weekly. We're going to zoom in on the run we had from COVID you got up to a price of $140.24 on the 10-year. Okay, now there's many different bonds that are in what they're talking about versus just the 10-year U.S. Treasury. Alright, but you can see that last year the bond came into 2021 at about $138. You slid to about $131 but this year you've dropped off from $131 down to $117 alone on that. Now you take a look at the 30-year I've been talking about this man if you're a technical trader watch out on a longer term basis man. We've had a trend line that's been support since the year 2000. When's it start? January 1st, 2000. That's a simple one to remember. 1-1-0-0 is the date on the chart from the monthly you put it on a 30-year you put it back on as far as I can on thinkorswim that brings me back to about 1995-1996 and bonds and in a bull market ever since man, but guess what? What did we do? We just broke below that trend line came back up tested it and push lower. What's that mean folks? That means lower lower price and higher yield may be coming at us and with that we get the S&Ps rolling over to negative prices. You just gave back folks the NASDAQ 100 some contacts here just overnight we were at 12,060 you just lost 1.2% in the NASDAQ 100. Don't sleep yet okay volatility not going anywhere right now as we got the NASDAQ 100 dropping 1.2% markets only been trading for about 15 minutes just from where you were this morning and what what are we doing? We're just back to where we were at 11 o'clock last night. So you get the NASDAQ 100 pops 160 points and gives it all back within the first few minutes of trading dicey action to say the least let's jump over to Apple see how we open barely in the positive by about two tenths for Apple we jump to Microsoft shares up about one tenth percent this morning we jump over to Google jump around those fag stocks gives back some of the overnight gains like the market this morning Google call it flat Amazon shares this morning up about half a percent was up to almost 132 overnight I think I had another Amazon article up here they just don't stop here it is how Amazon is giving Rivian an edge in the EV industry I always joke man the whoever's working PR at Amazon I know Amazon probably gets the clickbait going just by putting the name in the title but I swear CNBC and CNBC folks they are clickbait half the time okay I go over there for some of the economic numbers we'll jump over to Best Buy in a moment but most of their articles are very clickbait retail trader geared types of articles but nonetheless this one talking about Rivian and Amazon nonetheless Amazon up a little bit today up about two thirds excuse me one third percent trading at one thirty now jumping to what do we just have pulled up here Best Buy quarterly sales drop as inflation wary consumers pull back on spending is the headline sales dropped about 13 percent getting into the numbers they make a buck fifty four four versus a buck twenty seven though when they beat our revenue ten point three three versus ten point two two they were basically almost flat pre-market we'll jump in and see how they're doing in a moment net income three hundred and six million or buck thirty five a share from seven hundred and thirty four million or two ninety share a year earlier excluding items they earn that buck a share online and its stores open at least fourteen months declined by twelve point one percent versus a year ago now that's slightly better than what they were looking for okay they knew it was going to drop about thirteen percent they only dropped twelve point one they anticipate a sharper decline in same store sales in the third quarter right these are some trends man he did not give specific guidance he said it will be more than the twelve point one percent decline reported for second quarter let's see how they open man as these markets roll over I'm guessing best buys trading lower by three percent nope I'm wrong they're positive by five point four percent you see the give back folks remarkable that they're getting a pop here man I guess when they beat on the current quarter but you're talking about a decline of twelve point one percent same store sales this quarter and you're talking about next quarter a decline greater than that the only thing that can be saving them is that we've already had quite a pullback folks and there you go a year ago right we'll back it up to August of last year yeah we're at about one twenty okay you charged higher into November that's when they really started to give some ominous details now remember the comps they're dealing with are some of the better comps out there as in that's when they had their comp in August of twenty twenty one inflation not really on the radar just yet they accelerate higher into their November earnings and then the wake up comes in your trade from one forty two we'll call it down to a low in June of sixty four dollars not a lot of people thought Best Buy probably had a sixty percent pullback in the span of six months in his pocket but that's what happened so expectation sometimes everything and yeah same store sales down more than twelve percent but the market thought it was thirteen percent the ominous thing here is they're not giving you any guidance man and they're saying things are going to be worse next quarter I guess the markets already pricing in some some tough deals with Best Buy as they're up six point three percent on their numbers retailer has noticed some shoppers are trying to stretch the budget lower income households and are trading down to lower price TVs or timing purchases for sales events it's a tough one out there man with inflation at the end of the second quarter inventory was down six percent compared with the year go period up about sixteen percent they're dealing with some inventory there they spend a little money on restructuring nonetheless Best Buy positive on their numbers let's jump around some of the other companies that are moving so far this morning we talked about Best Buy big lots out with their numbers smaller than expected loss better than expected revenue comp store sales fell less than analysts were looking for so kind of similar to Best Buy right big is their symbol big lots and they're up nine percent not bad so same store sales getting hammered but beating expectations for big lots and for Best Buy yeah first solar they're going to be spending one point two billion to expand U.S. manufacturing a new factory in the southeast let's see by do they come out with their numbers better than expected profit and revenue they're hiring the pre-market China based search engine seeing a recovery and ad sale stronger demand for its cloud based offerings now this thing all right let's jump over to buy do here this is an interesting whole look at that down six point eight percent there's your five-year weekly man you talk about a pullback from three fifty you're just chopping around for a while right now one thirty seven down six point eight percent you're playing any of these Chinese stocks man you know yeah you got some room for volatility but any day you can wake up and get news from China that you're down ten fifteen percent just like you can on the upside so keep your risk in check stay tuned folks we'll be right back we'll talk a little bit of CPI when we come back TFNN has just launched their new trading room the Tiger Zen hosted at discord TFNN has been educating traders for more than 20 years 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lower on the open right now trading at 4025 all the indices climbing towards the red nasdaq 100 barely hanging on to gains by about three points we may go red we were just read the last few minutes down by yeah all them in the red right now Crude continuing to drop look at that drop off man Crude's off $5 from where you were overnight I mean just since we came on the program Crude has dropped $2 since I started the program at 9am this morning go contract just kind of hanging out at 1741 so I mentioned talking a little bit of CPI now we get jobs numbers this Friday so we got August non-farm payrolls on Friday 830am then CPI numbers ok now that's going to be a big one for the Fed we get it on a Friday how the last Friday go right we get it on a Friday going into a long weekend if we get a super strong jobs number folks maybe you got wage growth in there as well watch out because that's going to say the Fed has to act alright the feds already told you they're going to continue to act I think they said something like one data point is not going to be enough or something like that there were references in those eight minutes that basically said we need continued data before we stop hiking rates so we get non-farm payrolls this Friday 830 okay consumer price index for the month of August we get that September 13th okay so what happens is Friday is September 2nd I'll even pull up this little calendar in the bottom right hand on my screen Friday is September 2nd we come into the long weekend we come back on September 6th okay and September 6 we come back we got one week until the CPI data on the 13th and then we have one week after that a federal reserve meeting where they're expected to hike between 50 and 75 basis points it's going to come quick it's going to come fast keep your fingers ready man this S&P it's rolling over as we speak and we're in a dicey area right now you're coming into the lows we had yesterday of above 4,020 just on yesterday's action during the market we made a low just at about 11 a.m. eastern time only a few points of where we're trading below right now 4,017 the low interday yesterday you got the S&P's trading down by 10 points right now Nasdaq 100 rolls over trading down 18 Dow off 40 Russell really will know about Russell negative by 610 percent thanks for starting today with me folks stay tuned we got live programming my dad he's back in the saddle today at 3 Nazzle Chapman is up next folks this is our have a great Tuesday