 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. We kickoff Tuesday morning and we get some red action across the board right now. Some weak Chinese stat out there. We got markets in negative territory challenging. The lows of the close of last Friday had to recalibrate things. We trade higher yesterday, quite the sell off on Friday of course, down to lows just below 4500 and we just tested that area. You have a lower Friday at 44.93 and the S&Ps and we just got down to 44.95, so we're just above that level. But boy, you look at the action from last night, right? It's a one-way trip to the tune of about 1%, the S&Ps we've caught a little bit of a bid. You're talking about trading down about 45 points on an index trading at about 4500, S&Ps off 8.10% right now. You get the NASDAQ off 8.10% as well. NASDAQ, a little bit of a different story yesterday in terms of the price action, you had the Dow leading the way. NASDAQ just caught below the lows of yesterday and the lows of Friday, we're right at those levels right now. You get the Dow, as I mentioned, a little bit of a different story. Dow, not quite down at those levels, but you're within about 100 points right now and you're talking about, well, 160 I guess, but you're talking about an index that just traded down 300 plus points from the close of last night. They were down 272 in the Dow and the Russell leading the way off 1.3%. Banks getting fine today. You get some banks getting downgraded as well, putting some pressure to the downside on the Russell. The Russell talk about a laggard, right? Trading right now down 25 points off 1.25%. Crude, continue in the pullback, still above 80 bucks, but we just tested and got a 79 handle in the last hour. We're trading at 80.61. We got some China weakness out there that's going to put some demand weakness potentially in the crude market. Gold off $10, challenging that spike low of Friday on the jobs number. Gold trading at $19.59.90 right now, you're down by $10 on the session. We take a look at that daily on gold, well off of where it was of 2012, just about a couple of weeks ago, but kind of in no man's land, right? 1960. We've been higher. We've been lower. Gold, continue into trade with a little bit of weakness this morning. You got to jump over to the dollar when you see that type of action. We have dollar strength going on right now, 102.65. We see the acceleration from the close yesterday, actually above where we were on Friday now on the dollar index, and we got to jump to yields. We're getting higher price and lower yield today. Interesting when you look at, right? So we just did the dollar, we are getting higher price and we are getting lower yield. We're up by 12 ticks. You're above where you were on Friday, but at the same time, we are basically just back to where we were on that jobs number. And so we've continued to climb, even though we have higher price and lower yield, we have dollar strength, which is an interesting divergence from some of the relationships that we've been seeing play out in this market. But boy, we got a lot going on. We'll jump over to the VIX as we wrap up our jump around to different markets this morning with the VIX trading above 17 against 1703. So much for the days of 12, right? So much for the days of 14. We sat there for about two months, all of June, all of July, maybe everybody going back to school in August, in Florida at least, getting people back in the market. I kid, I mean, we get some economic data here. We get some earnings data. We get CPI data, about 48 hours from right now on Thursday morning. That will play into things as well. But let's jump over to some China data to kick things off. So we got a couple of articles here. We actually got three articles up. Don't we? Yeah. We'll start off with this one. China plunges more than forecast. Exports drop 14.5% year-over-year in July. The worst decline since COVID hit. Remember, February 2020, COVID was hitting China ahead of us, right? March is really where we started to accelerate. The end of February is where we started to decelerate. China was dealing with that coming into even December, January, February in that as it began. Imports fall 12.4% much deeper than economists expected. That's the article we have up here for exports and imports from the journal. Same headline, same information, different headline, Chinese exports fall at the steepest pace since February 2020. That's the point they choose on their headline. A slide in outbound shipments reflects fraying trade ties with the Western world, even as exports to Russia boom. So really weak numbers here coming from China. And check out the trend. Exports fall again in July. Imports drop more than expected. You have exports in black. You have imports in red. And you talk about some year-over-year deceleration, man. Now, this doesn't go back that far. Okay. You're not even getting back prior to COVID. But yeah, we're at some negative numbers across the board here. Year-over-year decelerating. Economic recovery this year was expected to be buoyed by strong domestic demand. But they have some issues going on. So that one's shaking China a little bit. You've got the hang saying down 1.8% right now, Shanghai down a quarter percent, Nikke barely in the positive right now. If you jump over to Europe, you get the DAX right now down one and a quarter percent. You get the FTSE down about six-tenths percent, KAKAROL down a full percent as well. We jumped to bonds. That 10-year yield was sitting right at 4% right now. So we've had a little bit of volatility, right? We're right back to where we were basically coming into August. We got that spike low, but we're still sitting at 4%, 4.02% almost actually on the 10-year as we're up 10 ticks on the session right now. All right. Jumping around to what else we have going on. Going to be an interesting open to see how we trade with this Chinese data. The Chinese central bank on Tuesday set the WAN fixing at the weakest level in almost a month, a move that signaled some tolerance of softness in the currency and which triggered WAN sell-offs in the foreign exchange markets, allowing some fluctuation in the WAN's values should benefit the economy. They're trying over there, man, but they got demand woes as they put it. South Korea, Japan, Taiwan, South Africa, and Canada dropped by double-digit rates for China's falling demand. That indicates subdued appetite for electronic products and minerals. Imports from the US fell more than 11%. Well, those from the EU were down 3%. Really weak numbers, man, across the board. I mentioned the banks, US bank shares drop after Moody's, cut ratings, warrants on risks, rating company downgrades 10 lenders, setting dimmer outlook, US bank corp, BNY Mellon among six firms, facing potential cuts. There's your cuts when you look at the numbers there, pinnacle financial downgrades. No huge notable names. When you get into the review for downgrades, that's where you get some companies that we really know. Truist is a big one. I see them everywhere. State Street, Northern Trust, US bank corp, Bank of New York Mellon. A lot more notable names in the review segue. Maybe that's like a heads up so they don't shock the market when they come with the downgrade for them. Decline for firms that have their ratings cut, 3%, 1%, 2%, 2%. Moody's adopted a negative outlook for 11 lenders, PNC, Capital One Financial, citizens. Listen, the pressure is going to be on these banks for a while, man. So you're seeing this way on the Russell, which is why the Russell's getting hurt more than the other indices today. You've got the Russell right now down 1.25%, S&Ps, 3.25%, NASDAQ, 3.25%, and Dow actually identical. They're all down about 7.10%. Meanwhile, you've got the Russell off about 1.3%. Yeah, there's PNC. So check it out. PNC, $6 gets shaved. They're going right back to $126 on the open. Yeah, be careful in these regional banks. What's the one? Is it KBB? KBX? What's the regional bank? Yeah, be careful in those regional banks, man. And the silver lining there, though, is that as consumers, those CD rates are going to stay decent. I don't know where they're going to be. The Fed is going to determine that to some degree, man, but they are going to be fighting for capital for some time. And they're going to have to be paying some yield for that. Stay tuned, folks. We're coming back. Lots to talk about. We'll be back in three minutes. Don't go away. 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There's no cash or added costs when you join our community of traders. Sign up today and become a part of this educational community of traders. Just visit the front page of TFNN.com. Welcome back, folks. We've got the S&P's claw and back some of those losses down by 29 points now. That's about 2.3% NASDAQ down pretty similar, 2.3 Dow off 2.3. You have the Dow, NASDAQ and S&P trading right in confluence with each other in terms of step-by-step percentage-wise, not usually the case in the Russell taking it hard and that having to do with banks this morning and they're getting kind of a double dose. So you've got Moody's, right? We just went over this one. Moody's cuts the ratings of 10 companies. They review for downgrade on 6 and they have negative outlooks on many that follow there. So those banks are trading lower. That's the main reason we'll say why the banks are getting hit this morning. But another story out there that would be getting more pressed if it wasn't for everything going on. And we're talking about pennies for what these banks have to pay, folks. But Wall Street is going to pay hundreds of millions more in WhatsApp cases, basically because folks, banks are highly regulated, okay? They're going to pay hundreds of millions of dollars, say the probe discovered, off-channel communication. Shocking, right? Yeah, basically they're communicating using apps like WhatsApp, Signal, not saving those communications and discussing business. The biggest finds out there, Wells Fargo, usually at the top of the find list. I kid a little bit, but not really, right? Wells Fargo, 125 million, BMP, 35 million, like I say, you know, pennies on what these companies do. They're similar violations by their derivative brokerage units. In all the CFTC announced penalties of 260 million, while the SEC said the firms had agreed to pay 289 million, cracking down on firms, skirting regulatory scrutiny by using services such as WhatsApp or personal email addresses for work-related communications. So they're not telling people not to discuss things or communicate outside of the communications that they store. But they were discussing work-related issues outside of where the regulators can see those communications. And when you're in that industry, folks, that's not allowed. It's not even legal. It's a way to put it. Regulators have said the filing that failing to properly archive messages can make it harder to investigate what we're on doing. You think the people who are using those apps know that? Pretty remarkable what you could probably get away with these days in terms of communication not being saved. Even more remarkable to think what you could get away with before everything got saved on the phones. How often is it, right, that there's a text out there or something? Okay, so that story out there, not a huge one, but out there nonetheless. Yeah, let's talk about this story. Interesting one out here from Bloomberg talking about cars, right? I've talked about myself. I have a small coupe right now and thinking of getting a bigger vehicle. And cars in America, they've been getting bigger and they just keep getting bigger. The average new vehicle in the US has gained 175 pounds in just the past three years. Some of this because of EVs coming online, those batteries are heavy of course, but the trend is to higher weight. This chart puts it out. From the 80s, you start, okay, American cars have a quote unquote weight problem. You have cars in green here on the bottom, okay? The average weight in 2022, you're talking about about 3,700 pounds. You back it up to 1990, you were 3,100, 2000, you were 3,400. The wave of vehicle bloat began in the 1980s thanks in part to new safety regulations, air bags, crash test ratings and more robust structures packed on vehicle pounds while better construction and stronger materials reduced engineers need to worry about weight, efficiency became less of a priority. Well, guess what? You have SUVs coming in there, of course, that matters, but you know what else matters in there is your emissions, okay? Everything came a push for better fuel economy and emissions, a process that packed on more pounds and culminated in some of the heaviest vehicles yet, battery-powered ones, EV batteries add 1,000 to 1,500 pounds for a long-range sedan, okay? But what happens is you pack on those pounds and you're probably decreasing your emissions. Now it's interesting when you look at the weight these companies have added. This goes company by company, Kia started at the smallest and they're actually still the smallest, right? In terms of weight, small vehicles, Honda, Hyundai, Honda, Hyundai, Mazda up there, you got Stellantis at the top, Ford, I guess some big vehicles, right? That big Explorer maybe, Ford making a lot of SUVs. Now what's interesting as well, fuel efficiency. Now what's crazy here is that this is only from 2000 to 2022, okay? But sometimes time flies and it's important to see these changes that have taken place, man. I mean, you're talking about a fleet of vehicles that was usually getting between 18 and 24, right? And now what are we pushing? We're pushing 22 to maybe 28 or 30 miles per gallon and you see some of the huge improvements, some of those companies, the smaller weight companies, most of all have made. Hyundai, Kia, Honda, the same three when you talk about the weight at the top there, but nonetheless radical changes, but that was interesting, man. Cars are getting bigger, shouldn't be surprising there and I think that's just going to keep happening, man. People like big cars. Cars have a nice little fun little car, which is kind of what I have. But then you got a family, you got things to do and as efficiency takes off, I imagine that will be something that plays out as well. Yeah, I mean, we could talk China as well. This one out here from the New York Times talking about China's college graduates. They're struggling, man. It's just interesting. This is a Times article. More big picture here, right? But I was reading this this morning as well. Don't be so picky about a job. China's college graduates are told under pressure from Beijing, Chinese schools have been told to do more to secure jobs for students who are facing bleak prospects. So just keep China on your radar, man. You can check that one out at the Times if you want a little bit of a longer read. But yeah, basically, not exactly emblematic of a very strong economy out there. You must not aim too high or be picky about work, said one college president to more than 9,000 graduates in June. The opportunities are fleeting. Imagine if we had college presidents talking like that to people graduating last year. Not exactly China thinking this, but yeah, to say the least. All right, let's jump around and see what we got on some of these fang stocks as we kick off the day with negative action. You got Amazon shares. We had a run last week on their numbers this morning. We're going to drop a bit to 140.73, just the middle of the acceleration they had yesterday. We jump over to the big dog, Apple. Yeah, keep your eye on Apple, man. Apple has led this market higher and they could lead this market lower in a heartbeat, man. We are $20 off aware this thing spiked at a high. Apple just gave off $320 billion in market cap. It's remarkable that one company can shave a third of a trillion dollars of market capital wealth off people's balance sheets in the span of about two weeks and nobody's even really talking about it. Well, it's been a heck of a run, man. You want to see something? It's we wrap it up and we come into the opening bell in four and a half minutes from right now, folks. You're still $8 away from a 382, man. And look at this. Yeah, it's coming right back into this area. So we are now back to the highs of last March, the highs of August, which is a high of $176.15, and actually the recent all-time highs of a price point of about $182.94. So you're through that area. But boy, you want a little linear regression. OK, you want to pick an area that has support. Well, what? You're in $170 to $180, man. $170 to $180 is your area of support. $170 is the 382. That's going to be an important area for Apple. You got $8 that area, but keep your eye on Apple shares, man. You get down to $170 because you break below that, right? Number one, you've broken through the 382. And number two, you break below that. And you're now in this huge area that got us to $130 in a heartbeat. Look how many times we did this. Absolutely remarkable, the volatility Apple has had. Hindsight 2020, man. But don't think we can't do it again, folks. We did $170 to $130. Then we got to $176. Yeah, we did $180 to $130. Then $176 to almost $130. Then $155 to $129. And now we're going to $198. Interesting action. Stay tuned, folks. We're coming back for an interesting open. Don't go away. I'll be back in three minutes. Building wealth trading in the stock market seems impossible to most people. They think it's too volatile and risky. Most people aren't going to take the time to educate themselves on how to do it right. But you're not most people, are you? At TFNN, you'll get the guidance you need to refine your strategies and techniques to invest like a pro, because you'll be a pro. All TFNN subscriptions, books, software, and courses are available at tfnn.com. And I'm even going to tell you how to get them for less. Use TFNN's Tiger Dollars, and you'll get up to a 20% bonus on your purchase. 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And we're bouncing a bit, 45.10 right now in the S&Ps, NASDAQ 100 off 120, the DAO off 226 right now, the Russell off 27, as I mentioned, those banks weighing. Let's check out how some of the big banks are doing. Wells Fargo off 2.3%. They're paying nine figures, nine figures, and it's pennies on the dollar, right? That says something, but it is. Wells Fargo off 2.3% right now. We jump around to some of the bigger banks, even Bank of America off 2%. Anytime you got like 10 banks getting downgraded, right? You saw what was going on there in Moody's. JP Morgan off 1.5% right now. Wells City off by 2%, let alone some of the other banks that took it harder, PNC, off by 3.5% right now. What was it? All right. Yeah, banks taking it on the chin this morning and you got the Russell right now, continuing to trade lower. They're dropping on the open with the Russell off 1.6%. We jump over to the VIX this morning, Volatility Index, 1684. And yeah, yeah, it's interesting. All right, we won't get in. They're talking about the United Auto Workers and the Den. And yeah, why not? Let's pull it over. So this is the article even, right? I mean, it's one of 32 hour work week double digit wage increases. So that's the line that started it, S1. So I'm sure you're reading either this story or a story of it or a story that that came off of it, right? And here's what I'll say. Okay, question everything folks, okay? And that's, you know, this of course becomes political and Duncan Steve, you said it well. Man, unions are great in many situations, but not everyone well said, man. The truth always lies like somewhere in between of everything folks, politics used to be the art of compromise because nobody's going to agree on everything and that has kind of gone to the wayside. And I think a lot of people would agree on compromise to some degree. And I find myself even looking at this, right? So you got a huge deal going on between the United Auto Workers and the big three automakers, man. And you just saw that huge deal that got done with UPS, right? UPS workers, drivers making I think near about $50 an hour, good for them, okay? The problem in my opinion is that we have a 3.5% unemployment rate right now, right? But unfortunately many jobs don't provide a livable wage to raise a family for even though the companies they're working for are achieving record profits. And who said we have to work a 40 hour work week? And that's where it caught my eye, okay? And there's nothing that goes into this in terms of worth at work ethic. And I forget where it is and whoever said it says it, there was the word lazy in the den, right? Talking about lazy. And I can't find it, but it was in there and it's a common perception, okay? And here's where I'm going to push back a little bit. There is nothing lazy about fighting for what you deserve, nothing, okay? Who says that we should work 40 hour work weeks? Why is that the deal? Why do we work five out of seven days? Why don't we work four out of seven? Why, why don't, if five out of seven is so important, why don't we work in six out of seven and resting on Sunday? These are common misperceptions that we take for granted and you should question that because why? Who decided Monday through Friday was like the grunt job, okay, as in you're there, you're five days a week, we've seen the shifter in COVID. And I totally agree. Majority work more than 40 hours and here's the deal, man, okay? You should be working all the time. As in, you know, you shouldn't be working all the time, but I say there's not really retirement. You should work at what you enjoy, hopefully. And even if let's say you work a hard job for 20 years, you make enough to retire, then what do you can do? Go have some fun, go be a real estate investor, go get into art, go take piano lessons, go do whatever you want, right? But still be active in doing something and maybe you can turn that something into some type of getting paid for the value you're providing or something like that, okay? But I bring it up because, you know, and I was just like, how much of these car, nobody ever said why, how much of these car makers making, man? How much are they making with these people that they're doing, right? Well, I don't even know. Maybe somebody can help me. I'm cherry picking stats here, but I saw one stat that said between GM Ford and Stellantis made a combined profits of $22.5 billion dollars over the first six months of this year. Why would your workers be lazy if they don't wanna work 40 hours a week when the companies are making $22.5 billion dollars in six months, okay? So we're seeing a shift here in when you have workers, you have companies, you have profits, but just think about the fact that you don't have to accept the norms of what we all seem to accept because who says the five day work week is like the necessity and if you wanna work four, you're lazy and if you wanna work six, you're an OCD mental crazy case that doesn't relax enough, right? Where did that come from? So think about that because this is gonna be a heck of a negotiation. You're already seeing a play out. You're seeing a play out in the press and you're seeing a play out with people's perspectives and of course politics comes into it which makes it even harder. But remember that these big three made $22.5 billion dollars in profits in six months, okay? Now they're gonna be spending a lot of capital, develop electric vehicles, et cetera. But I say, why can't we have a four day work week? Why can't companies that are making $22.5 billion dollars support it? I don't know if they can, but it's certainly not lazy and they definitely deserve the recognition because the companies seem to be doing just fine, man. Okay, this one's gonna be a tough one for these companies when this plays out, man. Yeah, you got members demands over there and this follows that UPS deal. It's gonna give these workers, man, some strong teeth to dig into their position. And yeah, this one brings it up as well. Look it, there it is. I didn't even get through the article. $20.7 billion they cite. So I had $22.5 in the first half of this year. Yeah, so it would take 16 years for somebody who gets hired at their battery plant in Ohio to make as much as the CEO makes in a week. It's not how it used to be, man. And everybody likes to get up in arms about people needing assistance, too much government aid. Where is all the uproar? And I'm deviating here as the market trails off a bit. Okay, but these things are gonna play out. We're gonna see them. Where is all the uproar that we allow these companies to privatize these profits? And then when it comes time to actually supporting the employees that they're paying to facilitate these profits, that responsibility is shifted off to the government. That is what is happening. It happens with Walmart. Yeah, for what it's worth, $22.5 billion. They made it six months, folks. Keep that in mind when you see those workers saying, hey, maybe we don't have to work so hard 40 hours a week. Why can't it be 32, man? Why can't it? Yeah, everyone's gonna talk about what? Oh, productivity will drop, okay? They said the same exact thing from working from home, folks, right? Same exact thing, working from home. Remember that. That's a lesson, right? They gotta be in the office. CEO still want it. And in some positions, man, it makes sense. In some companies, it makes sense. I get it. In private companies, you're allowed to do what you wanna do. 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The Russell catches an acceleration off one and two-thirds percent as we got some bank woes that continue trading at 1934 off 33 points from yesterday's close. We jump around to what else we have going on. Let's talk a little bit of Fed. Philadelphia, good old Philadelphia, went to school at Villanova right outside. Good old Philadelphia spent some good time out there. I saw the NBA All-Star Game, my senior year at Villanova when I was working for a nice distributorship for good old Budweiser in Philadelphia. I got to go to the All-Star Game for free. Last All-Star Game that Michael Jordan never played in. I think that's the only time I got to see him play. I digress, right? Haven't been back in a while. Good old Philly, always like Boston more, but I'm a little biased. Federal Reserve Bank of Philadelphia president, Patrick Harker, said the US central bank may be able to cease interest rate increases, barring any surprises in the economy, though rates would need to stay at their current elevated levels for some time. Absent any alarming new data between now and mid-September, I believe we may be at a point where we can be patient and hold rates steady and let the monetary policy actions we have taken do their work. Those are remarks he said today, prepared for an event organized by the Philadelphia Business Journal. Should we be at that point where we can hold steady? We will need to be there for a while. He is a voter on this year's monetary policy, FOMC committee. I do not foresee any likely circumstance for an immediate easing of the policy rate. That can change quickly, okay? Just as quickly as it can change to where we don't need to hike. I mean, for some context here, you don't have to go back more than five months to March 7th on this chart, folks. Do you see that on the candlestick chart? We're referencing candlesticks because we're gonna talk about our man, Teddy Kegstad next. We talked to him Wednesdays at 40 past the hour, but he's got a webinar coming up in six days talking candles. You see that candle on March 7th? Let me zoom in on it. There's your candle on March 7th. You know what that was? That was Chairman Powell in front of Congress, okay? It was a two-day testimony. March 7th was the first day when he surprised the market and they were talking about something to the degree of we're gonna have to be higher for longer than people are anticipating, right? Market sells off a good 50, 60 points. He basically said the same thing the next day. Maybe tried to claw it back a little bit. Market wasn't buying it. We stayed at 4,000. The banking crisis began the next day and we traded from 4,000 down to 3850. The Monday of March 13th is when we clawed it back. Now, I give you some perspective there, okay? It sticks out like a sore thumb. I was looking for a better term, but why not? We'll go for it. Sticks out like a sore thumb because it only took a couple of days, folks. And then what happened? Everything changed, okay? We still got our hikes. That might have been in there. But everything changed that quickly over the period of just a few months from this market thinking that we might go much higher and what happened? Yeah, we went twice, okay? But now it looks like we're stuck and it's only a period of four or five months that that can change. Now I bring that up because four to five months from right now is the beginning of the year and think that the verbiage we're hearing right now is talking about setting the stage from pausing to where they would have to be if they need to cut. But that same thing was going on four months ago from when they were hiking to where they'd pause, right? So now we're already seeing a voting member of the FOMC. I'm just bringing it to your attention. I don't know how they're gonna do it. I don't know where cuts are gonna come from because inflation may still be a problem, okay? He said in there, if we don't get any outliers or scary data before September, we still get a lot of data. We get all of August data, let alone the numbers that we still have coming out as well, but just realize, even though they're saying we're gonna have to be, stay there for a very long time, that can start to change if the data changes, which is what we've seen take place as well. All right, we take that, we jump around, check it out on the front page of TFNN folks six days from right now. Our man Teddy Kegstad, we'll be talking to him tomorrow. He's doing a webinar, 60 minutes, Japanese candlestick patterns, stock and options strategies. He's gonna show you how to use the candlestick patterns that he's gonna talk about, use them in trades, what they do, learn how to apply those patterns to stock and options strategies in today's volatile trading environment. Teddy's written a book on candlestick charts folks, so he is an expert, he's excited for the webinar, I was talking to him last week, we were putting this together, he launched it last Wednesday, so please check it out, it's $97, it's a 60 minute webinar, it will be archived, you can be in there asking questions, and this is not a newsletter or anything like that, standalone product, nothing recurring, $97, it will be archived, you gain access to Teddy for an hour for that live webinar, Monday 4 till 5 p.m. Eastern time, coming up this Monday, August 14th, and yeah, who doesn't use candlesticks these days, right? Okay, and what else do we have going on? Yeah, they're talking about Lily and the Den, let's talk a little about, we talked about the weight of cars, we'll talk about the weight of people. Obesity drug, wegovi, cuts risk of heart attack and strokes by 20%. Eli Lilly raised their outlook after strong sales of a rival drug, so this obesity drug is not made by Eli Lilly, it is made by Novo Nordus, okay? It's their blockbuster obesity drug, wegovi, reduced the risk of heart attack and strokes, the highly anticipated study, booing, booing, booing, booing, booing, jeez, I'm nailing that one, booing, booing, booing, I got there, my lips were stuck there, booing, booing, that's a tough one, shares of the Danish drug maker and the US maker of Eli Lilly, so we'll jump over to Lilly and then we'll take a look at this, because I was reading this article earlier, there's your Popman, up 16.5%. Now, what this has to do with, okay, this thing's been on quite a run, so be careful here, there is a lot of optimism for like a holy grail obesity drug being priced into this equity right now, okay? We have, yeah, so Novo Nordisk is at 413 billion, they're talking about that one, I believe, right? Not Eli Lilly, yeah, Eli Lilly's at 500 billion, man, market cap, look at these companies. Novo Nordisk is the second highest company in Europe just behind LVMH, right? Now, Lilly is up after the company raised the outlook on the back of stronger than expected sales, their Diabetes drug, but the Wagovii trial results could fuel already frenzied demand for such drugs and broaden access for more patients. This is the key that's hit Lilly, I think, this morning, okay? Obesity has long been linked to cardiovascular problems, okay, this study, though, that just came out for the Novo Nordisk drug, Wagovii, was designed to show for sure whether peeling away pounds with a shot could also have a meaningful impact on heart disease. It seems like that's an easy one, okay? And it seems like, of course, it makes sense that if you lose weight, that your chances of a heart attack will decrease, maybe you have less buildup of plaque and fat or whatever it is, but the results make Wagovii the first drug to combine effective weight loss with reduced heart disease risk, so they could all, not they could all, right? They have shown the weight loss and now they've shown that the weight loss leads to the benefits that they've long claimed and it makes sense, but they have to prove it in a scientific test, right? They have to have that done and show the actual results. So what that leads to now is reimbursement because healthcare companies don't care if you lose weight if it does nothing, right? If it's just a drug that somehow reduced the weight but the effects on your health weren't there, different story, well, now what's gonna happen, they're gonna be able to go to the insurance companies and have a better argument. They plan to file for an expansion of its label in the US. We'll talk about this when we get back folks, but yeah, they are expensive products and it seems like insurance should cover them. That one gets a little bit complicated as well. Stay tuned, we'll be right back. TFNN has just launched their new trading room, the Tuckers N, hosted at Discord. TFNN has been educating traders for more than 20 years with live programming hosted by a variety of professional traders during market hours. And now they are expanding their reach with the Tiger's Den available to all tigers and tigers for just $1 for the year. There's no catch or added costs when you join our community of traders. In the Tiger's Den, you can look over the shoulders of Tom O'Brien and the other TFNN hosts while they analyze charts during their live Tiger TV programs and join an interactive trading community with hundreds of members exchanging ideas, interact with other tigers and tigers as they share trading ideas, news analysis and discuss the market action all trading day, even at night and on the weekends. The Tiger's Den at Discord is accessible on mobile or tablets as well. So it's always at your reach. To sign up today and become a part of this educational community of traders, just visit the front page of 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. 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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 Pezzavento 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 within 30 days of signing up. Subscribe to the Fibonacci 24-7 newsletter today. TFNN.com, 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 got markets sliding a bit. You get the S&Ps right now. Let's jump back to it because we're making almost session of those. You catch a bounce off 44.90, we're trading in 44.95 right now. NASDAQ 100 dives down to 15,274. So we're off by nine tenths percent in the S&Ps. NASDAQ 100 off by 193. The Dow off a percent right now. NASDAQ off one and a quarter on the Russell off 1.5. So watch out today folks. And yeah, Eli Lilly, not so much man. You're up by 16% it catches a bid to 525. We were talking about Wigowi. Obesity drug cuts risk of heart attacks and strokes by 20%. So a couple of points I wanna get to before we jump through the end of the program here. We got our man Basil Chapman coming up next folks. We got live programming today. We'll talk to our man, Teddy Kegstad tomorrow. Don't forget about Teddy's candlestick webinar coming up six days from now on Monday. And please don't wait until the last second because that is coming up on Monday and candlesticks. Nothing like it. Well, they were only looking for 15%. That was basically what the market was expecting or hoping should say. Sales of Wigowi may reach $14 billion, one analyst wrote. And yeah, it could make sense right now. Common side effects, nausea, vomiting, and uncontrollable diarrhea. Not what you wanna hear, but people are still the holy grail of weight loss. It'd be interesting to see how this plays out. I'm a bit skeptical, all right? But I don't know anything, all right? If that's what the data shows, man. Obesity is a tough one. The tough one that I can't wrap my head around there, right? When you're talking about, I mean, we have a, listen, and I can lose 15, 20 pounds, man, but we have a diet and activity problem, okay, in America, especially, and it's very difficult to imagine there is some holy grail. When you're talking about people who are severely obese, maybe they need a Kickstarter, maybe they need something, but this is gonna be a drug that many people wanna take and it's very difficult to understand how it's gonna solve everyone's problem when most of us basically eat when we're not hungry, myself included, and aren't active enough. So keep that in mind when these holy grails pop up. It's very tough for me to imagine how the holy grail exists when basically, you just gotta be active and you gotta try and eat a little healthy. Have some splurges, but whatever it be. Folks, thanks for tuning in. Stay tuned for Basil. It's an interesting market with challenge in the lows of Friday, right now as we speak. Have a great day. We'll talk to you tomorrow, folks. Stay tuned.