 The following is a presentation of TFNN, the morning market kickoff with your host Tommy O'Brien. Good Wednesday morning everybody. I'm Tommy O'Brien, coming to you live from TFNN. Thanks so much for starting your trading day off right here at TFNN. We got markets this morning up by about 17 points in the S&Ps right now pushing 4407. We got the producer price index number this morning a little bit hot. We'll get into that in a moment. But markets nonetheless holding up relatively well with the Nasdaq 100 up about 410% right now. You get the Dow up 124 points. You have the Russell up by 5 right now. We jump over to Crude. I mean, this is an interesting action going on in Crude. You got a huge deal going on with Exxon. But nonetheless, you have Crude right where futures opened up Sunday night, right? About $85 you trade back to that area early Monday. You almost got back to that area intraday yesterday, got down to an area of $8512 a rating. We're trading right now. We're trading pennies off of that price point at $8510 in the price of Crude. Gold, quite the acceleration from where we were on Thursday, Friday. Gold right now trading at $1887 from basically an area of $1830 to $1840 for all of last week. You did make it up to $1850. You take a little bit of a longer-term look at that gold contract finally catching a bid for the first time in a while. If you haven't tried out the gold report, folks, my dad's weekly newsletter. Check that out right on the front page of TFNN. New subscribers get a 30-day money-back guarantee. Go check it out right now. You gain access to all the archives. My dad has said some great patience in that market. Of course, there's been losses as things have pulled back a bit. But boy, this market, right? You talk about some chop man. From the highs of 2089, you're talking about more than three years ago. We've just been shopping between 1700 and 2000, 2100, quite a little pullback right now. We're trading up, though, $12 on the session for gold. You jump to the dollar index. As to be expected, the dollar trading lower, we're below 106 as you traded yesterday. We're at 105.69, down another 13 pennies in the dollar. We talk a little bit of yield the 10-year right now, up again, up 10 ticks. Let's jump over. What is that correlating to? We're at about 4.7% yesterday. We're at 4.59, just that quick, right? Quite the reversal. Now, taking a little bit of a longer-term look at this thing, bumping up against the upper boundary. A little bit about this on my program earlier this week saying, hey, if we're really getting a bounce here, you've got a channel line here. Where it exactly lies on the top portion of this channel line, it can make the case probably. A little bit higher, a little bit lower, but that's probably the natural best fit is basically right where we are right now. As we spike up to a high of 108.11, we're at 108.01. You have the 10-year right now at 4.59. We'll call it 4.59. I think we're at 4.84. What is that? That's a quarter point. We've pulled back a quarter point since where we were one week ago. You get that type of action, man. The Fed might have to kick back things back into order. Half kidding, because you start getting the pullback, right? What's been the rhetoric? The rhetoric is the market's doing the Fed's work for it. The rhetoric is this pullback that we've just had has tightened financial conditions to the point where the Fed does not need to hike right now. Well, we just traded up two full points in the 10-year right now. We get the 10-year at 4.59% yield on the 10-year. We jump over to the VIX this morning. You talk about positive markets, inverse on the VIX. We get the VIX down another 44 pennies. We're trading right now at 16.59. And let's get into that economic data. Producer prices for September rose more than forecast. We jump down to the chart. PPI on a monthly basis. Now, a lot of this is gas, folks. A lot of this is gas. We get CPI tomorrow. OK, we're going to be talking to our man, Kevin Hinks, coming up after the first break. Can't wait to get his take on this. He's always talking about as many do, as many talk about. But PPI does not always trickle down into CPI. And we have an especially interesting case that so much of it having to do with energy, having to do with gas prices in particular, the cost of gasoline increased 5.4% excluding food and energy. The PPI climbed 0.3%. Now, month over month, it's a hot number, man. 0.5% versus 0.3%. You exclude food and energy. You come in at 0.3 versus 0.2%. PPI, you over year. 2.2 versus 1.6. Again, that has a lot to do with the last month. And that last month has a lot to do with gas and energy. And then PPI excluding food and energy coming in hot as well, of course. 2.7 versus 2.3%. Now, the prices of goods rose firmly on the back of energy and the strongest advance in food costs in nearly a year. However, excluding those components, they edged up 0.1%. That's it. OK, services costs increased 0.3%, led by a type of financial services, a pickup in oil prices. Yeah, highest level in over a year in September is threatening months of progress in taming inflation. It's going to be interesting to see how the Fed navigates when you have a headline inflation number that is now going to be the one that's running hot. Meanwhile, you had the headline inflation number coming down a bit because we were dealing with comps on crude. I mean, look at the comps here. So anywhere from March of 2022, it's important to keep in context because the dynamic is changing here and the Fed cannot control crude prices, OK? But it is going to become a factor and it might actually help the Fed. If you do continue to see hotter numbers on the price of energy, anywhere from beginning of March of last year to the middle of July. So what are you talking about? March, April, May, June, July, call it full month of July. March, April, May, June, July, five months. You got five months where crude traded from $95 up to 120. You got two spikes. Well, what did we just do? We just traded from March where crude was between $70 and $80. To July, you never made it above 80. The whole time you were between 70 and 80. So you had headline energy comps that were comparing to a crude market in 2022 of 95 to 130 to 120. Call it what you want. And this year we had prices between 70 and 80. Well, now what's going on? Well, we just hit a spike last month of 9503, which we had not seen since August of 2022 and over a year. We're now going to be coming into an era where November, the comps are below $80. To be fair, you do come into November at $90, but we don't see those prices again. You get a hard cap of $80 and the price of crude from comps we're going to be dealing with in November all the way through to August. Every energy comp is going to be higher prices on an energy basis. So it's going to be a little bit of a reverse scenario. We've had the core number running extremely hot, even though some of the headline numbers seem very friendly. The headline numbers being held by energy, now what's going to happen is you're going to have these headline numbers that are going to be perfect click bait. They're going to be tantalizing. And they're going to be high. And you're going to have the Fed saying, we don't have to worry about those because the energy prices are something we cannot control. How does that play out? We're going to get to see it all play out, man. Pretty interesting. Okay. And we jump from that to Exxon. Exxon down about $4 this morning. Now they are buying Pioneer for $60 billion. What's that sound? PXD is their symbol. You jump over to PXD. Now look at this, right? You're trading higher up by $3 a few dollars. This deal was known. I mean, look at the gap that it had from $214 up to $240. Okay. Last Thursday, Friday. We'll keep talking about this. Very little premium though above where it's trading at right now. $253 a share. $253. You were trading at $245, September 5th. Stay tuned, folks. We'll be right back with our man Kevin Hinks from The Schwab Network. If you're looking for potential trading setups in the stock market, then Rocket Equities and Options Report is a newsletter you should try. Tommy O'Brien delivers options and equity trades when the markets present them using a combination of fundamentals and technicals. Sign up for Rocket Equities and Options Report today with a 30-day money-back guarantee so you have nothing to risk. For all the details and to start your subscription today, visit the front page of TFNN.com. TFNN, educating investors. Everything in the universe is governed by the Fibonacci Sequence. This mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market. To stay on top of stock patterns you can take advantage of, sign up for the Fibonacci 24-7 newsletter at TFNN.com. When you subscribe, you'll get a weekly report from Veteran Day Trader Larry 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. Steve Rhodes started his trading career as a student almost 20 years ago, and the student has now become the master. Steve won the prestigious Timer of the Year award in 2018, and barely missed that mark again in 2019, finishing it number two for the year, an amazing accomplishment. Steve Rhodes is committed to sharing his techniques and knowledge with anyone who wants to learn, and he shares his vast amount of trading knowledge every day in his Mastering Probability newsletter. Steve's award-winning newsletter, Mastering Probability, is delivered every trading day with updates throughout the afternoon. Sign up for Steve's market newsletter, Mastering Probability, and you'll receive access to seven of Steve's educational webinars absolutely free. At TFNN, all our newsletters come with a 30-day money-back guarantee, so you have absolutely nothing to worry about. Visit TFNN.com and try Mastering Probability 30 days risk-free today. TFNN, educating investors. TFNN has launched the Tiger's Den, 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. The Tiger's Den, available to all Tigers and Tigresses for just $1 for the year. 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, everybody. Right now, we've got the S&Ps. You're looking at a market that's positive by 10, and check out, I mean, back to the 10-year, right? Pretty interesting action when you look over it. This channel on that's been in. Okay, zoom me in. I mean, that's what it looks like on a daily basis, okay, when you're talking about yields. And we've been talking about this channel line, and look at how it looks on a 10-minute basis. Man, you peg that thing to almost the tick. Okay, we're going to extend that to the right. I'm going to zoom in on that action. I mean, you talk about it, right? Now, these are for 10-minute bars. Excuse me, you spike up at about 345 a.m. Eastern time. You chop around a bit. Doesn't mean it's going to happen, folks, but at least it's an area that you can know that you're making a trade. You know your area that you're setting your stop at. Maybe you're looking for some negative prices. You're looking for some higher yield. You can always trade ETFs. They're talking about some of those ETFs in the den this morning as well. Yeah, let's take a look at the TLT. Let's see if this thing correlates. And this is the iShares 20-year plus Treasury bond ETF. So that's the longer term. It's not going to quite be the 30-year, because you have a mix in there. But it's the 20-year plus. And yeah, you don't quite get that same channel line, right? Not quite. Nonetheless, bouncing a bit. Okay, jumping around a bit. Some of the headlines we got going on. We talked about Exxon. So they're buying Pioneer. Now they have a huge presence in the Permian Basin for shale. Seems like that's going to be a thing to come over the next four or five years at least. It amounts to an 18% premium for Pioneer investors based on the closing price on October 5th, when the reports of the appending deal begin to swirl, okay? And that's all that matters, because that's what that equity was worth on that day. But boy, you know, it does look like you're getting a bargain there when you go back to, and what's their symbol again? I should get it. PXD is Pioneer. And they're getting it at 253. So check out this. I mean, they're getting this company right there on this chart. You know, not quite at the highs when crude was pushing 130, right? But you're talking about just off where this thing was trading at. $8 above where it was trading at last month. Pretty remarkable, man. Now, you did pull back to 215, and I don't know. Maybe Pioneer was comfortable with that 18% in this environment. Nonetheless, the deal gets done. So $60 billion, biggest acquisition, I think since the 90s they were talking about for Exxon Mobile. Exxon, off a bit, Pioneer, a bit higher, as you'd expect. That deal probably gets done. So you're still trading at 241. The bioprice is 253. You got a little bit of an arbitrage opportunity if it gets done. So the agreement will allow Exxon to boost daily output in the Permian region to the equivalent of 2 million barrels in 2027, or more than half of the oil titans current worldwide production. Daily output, right? So half of their worldwide production is going to come from the Permian region in three years, basically. Pretty remarkable. They pledged to reduce net carbon dioxide emissions from Pioneer assets to zero by 2035, or 15 years sooner than originally planned. You'd like to see that, if possible? Yeah, so they already have. There are yet to be drilled sites in the world's biggest shale basin will expand, giving it access to a vast number of potential on-shore wells. That, unlike deep water ones, can be brought online within months and make Exxon far more nimble at keeping pace with erratic global demand. Pretty interesting. You just open it up, you close it off, you have access to it. The acquired assets will turn a profit, even if crude prices dip as low as 35 bucks a barrel. I imagine they're looking for higher crude prices, though, if you're making that type of acquisition, or at least where we are. You're not looking for crude to pull back, spending $60 billion, right? So check out the shale dominance as part of this deal. Exxon, Pioneer deal, would create the biggest producer in the Permian basin by far. Look at where Exxon is. Look at where Occidental is, right? And look at when they take over Pioneer, how they're just going to crush it in that area. Look at how it just expands, man, over nothing. We're talking about 2017 is when things began to accelerate. The majors began to take serious notice around 2017 when Exxon bought drilling rights in the Permian from the Bass family of Fort Worth for $6 billion. Chevron, Shell, and BP all went on to become big players there too. Nonetheless, the basin still has more than 1,000 producers and the majors only make up about 15% of overall production. It seems like that trend is going to change. Just from the money they're spending right now and how they're trying to acquire that and how it allows them to be nimble at a time when you have higher prices, lower prices, and volatility in that crude market. Okay, so there's Pioneer. You're up by about $4. Remember, $253 is the price there for Pioneer. Just jumping around and you got Exxon Mobile down about $3. We jump over to that crude price, crude right now, trading at $8506. Quite a pullback. Put this thing on the 10 minute basis back to where we were. September 27th at $95. Make it down to $8150. You get the jump in the war over the weekend in the Middle East at $85. And pretty interesting. We've just been shopping around at $85, right? And boy, it's like I can't help but get away from these headlines across the board in terms of what's going on in Israel, man. I mean, just check out folks. You pull up the Wall Street Journal.com and rightfully so, man. Okay, rightfully so. The stories just get worse and worse and I don't know how it doesn't just keep escalating at least in that area in that region. And you got Israel massing troops on the Gaza border. Of course they are. I mean, the story is just tragic to put it lightly, right? You go to Bloomberg.com. Israel latest. A few good options. As Israel weighs a ground assault. UBS Bands work travel for MIDI staff while the Israel conflict rages. And yeah, some of the stories are quote unquote another level of cruelty. Put it lightly. All right, what else we got pulled up here for business? Let's see. We talked about PPI. We talked about ExxonMobil. How about the global banks? How about 280 billion dollars? How about that one? Banks got 280 billion dollar boost from rising rates. The outlook for net margins remains uncertain. Now that's only if your bank was able to stay in business. Chinese lenders face limited prospects for higher returns, but you're talking about more than a quarter trillion dollars in 2002 thanks to raising rates. Return on equity jumped to 12% in 2022 from an average of 9% since 2010. Net income on the rise amid rising rates. Look at the numbers, man. Global banking net income. $1.4 trillion for the year. Now remember that number, folks? Because there's a lot of pushback on the increased regulations that are coming on these banks after multiple failures of banks managing a quarter trillion dollars. I almost said billion. No, a quarter trillion. They had what, 200, 250 billion dollars in assets, right? Silicon Valley banks are doing just fine. They can afford a little bit of regulation and it always comes out of nowhere as we've seen. Stay tuned, folks. We're coming back for the open. S&Ps up by 12. We'll be right back in three minutes. Commodities and bond markets are as important as ever right now with how they're driving the volatility in equity markets across the globe, which is why it's a great time to try out Teddy Kegstad's Tiger Forex report. Teddy Kegstad breaks down the forex markets every Monday using his 30 plus years of experience as a trading veteran of futures, forex, stocks, and options. Teddy releases his weekly Tiger Forex report every Monday morning with coverage of all the major currency pairs, including the dollar index, the euro dollar, pound dollar, dollar Swiss, dollar Yen, as well as many more. And he also has weekly coverage of the crude oil market and the 30-year T-bonds as they both influence forex markets tremendously. When you sign up for the Tiger Forex report, you also gain instant access to Teddy's 60-minute webinar archive he just hosted, forex strategies, and fundamentals what is behind the Tiger Forex report. For all the details and to start your 30-day Tiger Forex report subscription today, visit the front page of TFNN.com. TFNN Educating Investors. The market day before the market open, along with updates when warranted. Stay ahead of the game with Tom's real-time analysis and trade recommendations delivered straight to your inbox. Whether you're a season trader or just starting out, market insights provides the edge you need to navigate the markets with confidence. Ready to join the ranks of successful traders? Head over to TFNN.com and subscribe to Market Insights today. Don't miss out on this opportunity to supercharge your trading results. Market Insights comes with a 30-day money-back guarantee for all new subscribers so you have nothing to risk. Don't miss out on this opportunity to revolutionize your trading game. Head over to TFNN.com right now to join the thousands of traders who have already experienced the power of Tom O'Brien's award-winning newsletter Market Insights firsthand. TFNN Educating Investors. TfNN airs live financial content streamed live on TFNN.com and TFNN's YouTube channel with Tiger TV, live every market day from 8.30 a.m. to 4.00 p.m. Eastern, for free. Each host is an experienced trader and gives their take on the market while taking calls and questions live from around the world. From the moment the market opens until the closing bell sounds, Tiger TV has eight different shows with expert hosts to help you make the right moves with your money. Watch online at TFNN.com or on TFNN's YouTube channel and become the investor you were born to be, TFNN Educating Investors. Don't forget you can listen to TFNN live on your mobile device 24 hours per day. Go to TFNN.com then hit Watch Tiger TV. That's TFNN.com then hit Watch Tiger TV. Welcome back folks. We have markets open right now. You got the S&Ps up about 15 points on a pretty hot PPI number. You see the volatility on the 8.30. We spiked from 4404 down to a low of 4394. We're right back to where we came into that PPI number. We'll talk about it again in a moment. You got markets in positive territory. Excuse me, NASDAQ 100 up by about half a percent right now. The Dow up about three tenths percent. S&Ps up by three tenths percent and the Russell up by three tenths percent. We jump over to crude in focus today with energy prices putting a lift into the PPI number in focus today because of Exxon's purchase of Pioneer for almost $60 billion. You have crude backing off a percent right now at 8505. Go contract up a bit up $10 at 1885. You jump over to the dollar index as we have yields abating a bit. What are we at right now? Let's check it out. We're talking about a 10-year yield. Yeah, 4.59 percent right now. 4.59 percent, man. We were just sitting at 4.84 I think right 4.59. We're off a quarter percent. Excuse me over the last let's back it up on a 10 minute to 10 days and we'll get it 10734. We are at 10566. That's the dollar excuse me but you got you go to the 10-year and that's the low I was looking for of about a week ago. That's early early Wednesday. It's 930 in the morning Wednesday. That was two in the morning last Wednesday. You're up two full points right now. We've backed a bit off the highs of 108 but we're still sitting at 4.59 which is a quarter percent off of where we were trading at a week ago on the 10-year yield. Remarkable. Now we always talk about the CD rate guaranteed risk-free rate of return putting your money in a bank FDIC insured CD five-year ladder right now. 5.13 percent, 5.13. Just sitting there. You're not seeing the same type of volatility of course in a CD market in banks as you're seeing right now on a daily basis in some of the 10-year treasury, 30-year bond and some of those ETF funds but right now folks you want a risk-free rate of return for five years. 5.13 percent man. The two-year ladder 5.44. 5.13 is an attractive risk-free rate of return over a five-year period and it's pretty cool the way that you do that is that you roll it each year therefore allowing you to basically be continually scaling in to keep up with where yields are in relation to where interest rates are so that you're not as exposed to duration risk one way or the other. Duration is great if you're on the right side of a trade it's horrible if you're on the wrong side of the trade. The five-year yield right now is for a CD 4.85 percent. 4.85 percent. Well you'd say to yourself well geez I don't need to take money out every year why don't I just go get a five-year CD at 4.85 percent because I think rates are going to come down and I think in the next year or two right I'm not going to be able to get 4.85 percent going out that far so what do I want to do? I want to stay at that longer duration of it and I'm just talking about over a five-year right you can go longer than that if you want to. The problem is with that okay is that what happens if inflation begins to rage again? What happens if we get the second acceleration of inflation? Totally reasonable case to make okay? Maybe it doesn't look like that's going to happen right now but we still got some lofty numbers we have a Middle East war going on right now we have inflation still at what? A four-handle arguably and we have crude prices that could potentially be spiking all pushing that. So the problem is if inflation goes up you've locked yourself in at 4.85 percent what if we get a second acceleration of inflation to 7 or 8 percent? Well what happens to your real rate of return? It plummets as opposed to if you're in a five-year ladder every 12 months you get to reset the interest rate out five years therefore if inflation goes up those rates are probably going to go up in the same way and your real rate of return is closer to inflation. I think it's a great rate of return over five years 5.13 percent with the ability to reset it every year therefore not being too exposed one way or the other. All right going back to these banks pretty interesting stuff right? So keep that in mind when you see these types of numbers right? 2017 they only made 0.7 trillion 700 million is what they made. Well guess what they doubled that in 2023 they're doing just fine. I am all for bank regulations folks because we see how quickly things come out of whack. Now if you recall when the chairman was talking we are going back man but I bet I could probably find it on this chart of the S&P. I'm going to put it on a daily excuse me I may sneeze here. Excuse me. Okay. Oh excuse me one more. Okay one second. I am going to be able to find it because it's basically at the market lows. Okay yeah this was the day so I believe it was March 7th. Let's get it. Chairman Powell, Congress, March 7th because if you recall here we go. I got to love it. So I just googled Chairman Powell, Congress, March 7th. You can find the chart speaks folks. Okay. The reason my technical analysis works so well is because it's a visual representation of what's going on in the market. All right. It's not some magic formula. It's a visual representation of what's going on in the market. So what you have is on March 7th which is this day right here where you were trading at about 4,000 and change you accelerate. I mean check out this day you had a high of 4,064, a low of 39, 82. You traded down 80 plus points from the high to the low. Quite a red bar as we zoom in. You got to reprieve for a moment. And then March 9th is when the banks began to break. Okay. That's when the market traded from 4,020 almost to 3909. The next day you got basically the session lows of 3846. You got that low again of 3839 on the 13th and from there the market took off and never looked back because all it needed was a couple of banks to go out of business and have a run on them. Now the kicker here is you had Chairman Powell's testimony to Congress. Okay. He was taking questions in this and you had a lot of questions about politicians both sides of the aisle. Okay. Grill in the chairman making sure that small regional banks and boy small is quite a word because we found out that Silicon Valley actually a smaller regional bank by the definition of less regulation managing $200, $250 billion in customer assets. You had politicians making sure that the chairman was well aware of how those regional lenders did not need the same amount of scrutiny and regulations as the systematic banks the ones that were required to be exposed to the greater testing etc. It was literally the day or two before you had the banks blowing up that you had politicians grilling the chairman saying make sure you don't get too tough with these regulations on these regional banks because they are the lifeblood of so many small businesses. True on many accounts. Okay. But remember like within days you have these banks failing as you have our politicians talking about less regulation. It always comes out of nowhere and you got to make sure that these banks are prepared because we saw how quickly I mean check out this one right. Talk about being in face value of everyone out there. We all got a quick lesson of hold to maturity securities how actually they had no money available whatsoever because all of the assets on their books were vastly overvalued versus what they were actually worth. I mean nobody was just doing the homework there. Right. Things can get a lot more complicated than that. So keep those in mind. One point four trillion dollars is what global banks made last year. And yes regulations are going up as they should especially on some of those regional banks especially when you talk about the banks managing tens of billions hundreds of billions of dollars of customer assets for what it's worth. All right. Stay tuned folks. We're going to come back. We'll talk some equities. We'll take a look at some tech stocks. We'll take a look at the magnificent seven when we get back. We get the S&Ps up by 13 NASDAQ 100 pushing up 100 will be right back folks. You might think that if you want to be successful at trading in the stock market you're going to need a crystal ball. After all it's impossible to predict the future. Right. Like any endeavor in life before you decide it's impossible get some advice from the experts. You might find that it's not so impossible after all for daily market overviews that give you direction on the key indices selective stocks and commodities. Subscribe to the opening call newsletter at tfnn.com. The opening call newsletter is written by Basil Chapman creator of the trading methodology known as the Chapman wave. The Chapman wave up down sequence gives you an edge in identifying price turns finding the peaks and valleys in stock prices. Get the opening call newsletter by Basil Chapman and your inbox every day. First time subscribers also get a 30 day money back guarantee. If you're not satisfied let us know and you'll get a full refund within 30 days of signing up. tfnn.com Educating investors. Will the S&P 500 continue to climb for bold trades on U.S. large cap stocks in either direction trade SPXL SPUU or SPXS directions daily S&P 500 bull and bear leveraged ETFs direction leveraged ETFs. An investor should carefully consider a funds investment objective risks charges and expenses before investing. A funds prospectus and summary prospectus contain this and other information about direction shares. To obtain a funds prospectus and summary prospectus call 866-476-7523 or visit directioninvestments.com. A funds prospectus and summary prospectus should be read carefully before investing. An investment in the funds is subject to risk including the possible loss of principal. The funds are designed to be utilized only by sophisticated investors such as traders and active investors. Distributor for side fund services LLC. 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 Tigris for just $1 for the year. There's no cash 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 Tigris 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 under the symbol VGZ. So we got markets holding on to the gains right now just chopping around near 4400. We're at 4406 in the S&Ps. We take a look at yields yet again. You got the 10-year right now sitting at about 107.30. That's at about 4.7% right now. What do we, let's get exact. No, I'm sorry, 4.6, not 4.6. Yeah, 4.595, 4.6%. About a quarter point off of where we were, where we were. Yeah, and that's by Glow or Friday, right? Is that that quick? No, I'm talking about last Tuesday, Wednesday. That's what, yeah. Well, yeah, a week ago. A quarter point, just that quick, man. Okay, let's jump around to some fag stocks. We'll jump over to Amazon shares. They're catching a bid yet again. You got Amazon with their big sale day, right? Just jumped over to the front page of Amazon. And hey, guess what? Everything's up to 56% off. Up to 39, the whole page. They just scroll, scroll, scroll, show you sale after sale after sale. So what is this even? Their prime day? What is this? It's not even up there. Shop deals give cool gifts later. Shop deals give cool gifts later. Who comes up with this stuff, man? Isn't it today and yesterday? Right? Yeah. Lightning deals, they get it all happening. They just call it deal days, right? Is that what they call it? I mean, I love Amazon. I got Amazon in my retirement account. But it seems like they're really losing a lot of muster with the sales when I can't even keep track. I don't even know what this one's called. But guess what? They get sales everywhere. Nonetheless, they get Amazon trading higher by about 9-tenths percent right now. And that's after quite an acceleration yesterday. This thing's had quite a year, but quite a pullback as well. We start off the year at 81. Now, this Fibonacci I got on there is a little bit longer term. There's your three year, right? Almost got up to the 618. Basically got right up to the highs we had of last August. That high was 146.57. We just made it up to 145.86. You've pulled back a bit. But we are getting a little bit of a rise on Amazon on their deal days going on. You jump over to Apple, the big dog. Apple right now, basically flat, 178.51. Tesla was on quite a tear yesterday. You're extending those gains up 1.3 percent right now. You jump over to Nvidia, up 1.1 percent. You jump over to Google shares. Google, look at this, up 1.2 percent. And that's that 100. It's only up by half a percent right now. Apple being flat isn't going to help. Microsoft though, up 9-tenths percent, right? Amazon shares, up 8-tenths percent. We just did it, I know. But look at these big moves on the Magnificent 7. Nvidia, up 1.1 percent right now. Google, up 1.2 percent. Had a couple articles out here. So talking about Google in particular, even Google Insiders are questioning barred AI chatbots' usefulness. Product managers and designers are skeptical about the tool messages from an official Discord group shows. I mean, the race for AI is on, right? My rule of thumb is to not trust the output unless I can independently verify, independently verify it. That's a senior product manager for barred. Not for Google, for barred. Okay, that's the actual program. Now, that should probably be your rule of thumb with everything you read on the internet, including AI for a while. But for months, Apple's, Google and Discord have run an invitation-only chat for heavy users of barred and product managers, designers, engineers are using the forum to openly debate the AI tools' effectiveness and utility. I will say, folks, chat GPT, it's pretty outstanding. If you haven't given it a try, give it a shot. It's worth trying to put it lightly. The biggest challenge I'm still thinking of is what's it truly useful for in terms of helpfulness, like really making a difference? I don't know. I think it's pretty useful. But if they're saying this within their own actual group that's actually running this, then I don't know, right? So it's adding steady features in there. I mean, they're just trying to keep chat GPT's caught fireman and they have to do something. And that's the scariest part from a Google perspective. You're up with this market and Google's going to be just fine, man, because I always say, no matter what they got YouTube, I know that that's not their entire business. Their entire business is Search, which is definitely taking intense new competition with the rise of Bing, et cetera. But boy, there's nothing like YouTube, man. And YouTube is like the next generation of set top television. That's why I kind of envision it, right? It's the television that everybody can watch for free and it's ad supported and it spans all spectrums. And that's kind of what it has become. It's the next generation of that. It's amazing how often I find myself watching YouTube. If you're watching Tiger TV right now, you're watching it on YouTube. Kids in the household really enjoy YouTube. I mean, we have Netflix. We have Disney Plus, right? We have Prime. We have HBO Max. And YouTube is the one that we use so often and the amount of ads that we end up going past quantifying it's remarkable. So no matter what happens with Google, they're always going to be competitor in Search, okay? They're just going to lose their monopoly eventually. But yeah, on the AI front, they got some big problems because they're reacting, right? It's like they're acting out of fear. They're not leading here. They're not leading with Bard. They're just trying to defend themselves against chat GPT. And it doesn't seem like they even have a clear path of how they're going to use this even within the groups. That's what I found myself thinking the most, reading through this. Yeah. The debate about the limitations and potential on the Discord channel is a routine and unsurprising part of product development, they say, I don't know, man, you got, you know, head of what was this guy's title? They just said senior product manager for Barge. Anyway, for what it's worth. So that was Google and guess what? We got another one. And they're spending less money. Alphabet's UK AI lab deep mind slash employee cost by 39% last year. And that's the London based deep mind slash staff cost 39% in the period as they're slashing some of the expenses related to that staff, especially over in the UK, the company revenue, which comes from research and development services to the rest of the group fell 21% last year. They acquired the company in 2014. Now I will say that on the PR front as well, they put out, let me see if I can find it. And I'll put it in the den. Yeah, April of this year, they had, they were able to get themselves on 60 minutes for a nice little promo puff piece. Google was talking about Bard. They had the CEO on there. They had product managers on there. They talked it all, talked about it. I will post the link. I just found it on YouTube, of course, right? You pull it up. Where is it? It's on YouTube. And that was in April 16th. Let me see. Is it Scott Pelley? I think it was Scott Pelley. Scott Pelley. Yeah, who I like. He does a good job. And it's remarkable that they were able to get quite a promotion piece in response to, now they gave 60 minutes full access across the board to it at that time. But even that was a reaction, right? Even that was their PR team trying to say, we got to get this out. We have to combat what's going on. But it's pretty revolutionary how that's going to change things dramatically. And they will be a player. But it talked about Bard. They bought them in 2014. And part of the reason why the person who controlled the company sold it, because they needed the computing power, right? They needed the computing power. There's only a few companies that have the computing power to really run the type of data sets that you have to run for AI. Google, of course, one of them. Microsoft, another. Sure, Apple's going to be a player. You can name them Amazon, the likes. But nonetheless, today, man, look at these stocks. Pretty remarkable. You get the NASDAQ 100 only up 75, but you got Google pushing 1.5% positive right now. Amazon up by 6 tenths right now. Microsoft shares up by 9 tenths. One more segment, folks. Don't go away. We'll be right back. The Gold Report. As a precious metal, gold is still king. It continues to hold the most effective safe haven and hedging properties across the global major trading hubs of the London OTC market, the US futures market, and the Shanghai Gold Exchange. The Gold Report. Tom O'Brien publishes his weekly Gold Report every Monday morning for subscribers, consisting of coverage of the XAU, HUI, GDX, the dollar, bonds, the South African RAND, as well as 25 different mining equities with specific buy-sell recommendations. The Gold Report. New subscribers get a 30-day money-back guarantee so you have nothing to risk. Subscribe to Tom O'Brien's Gold Report newsletter now at TFNN.com. After all, it's impossible to predict the future, right? Like any endeavor in life, before you decide it's impossible, get some advice from the experts. You might find that it's not so impossible after all. For daily market overviews that give you direction on the key indices, selective stocks, and commodities, subscribe to the opening call newsletter at TFNN.com. The opening call newsletter is written by Basil Chapman, creator of the trading methodology known as the Chapman Wave. The Chapman Wave up-down sequence gives you an edge in identifying price turns, finding the peaks and valleys in stock prices. Get the opening call newsletter by Basil Chapman in your inbox every day. First-time subscribers also get a 30-day money-back guarantee. If you're not satisfied, let us know, and you'll get a full refund within 30 days of signing up. TFNN.com. Educating investors. Everything in the universe is governed by the Fibonacci sequence. This mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market. To stay on top of stock patterns you can take advantage of, sign up for the Fibonacci 24-7 newsletter at TFNN.com. When you subscribe, you'll get a weekly report from veteran day trader Larry Pesavento on stocks you need to pay attention to, and you can trust Larry's analysis. After all, he's got 45 years' experience as a day trader. Larry will also provide daily charts, videos, and data on the key markets that he's tracking. Expect notifications from Larry on market movement you need to act on at any time. First-time subscribers also get a 30-day money-back guarantee. If you're not satisfied, let us know, and you'll get a full refund within 30 days of signing up. Subscribe to the Fibonacci 24-7 newsletter today. TFNN.com. Educating investors. 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. Back, folks. We got the S&Ps pulling back a bit from the session highs. We're back under 4,400. S&Ps up by 8 points, 43,99,25. NASDAQ 100 up by just 64. I say up by just 64. We were up to 15,387, so you give up 50 points. We do have some high fliers in the market, not Apple though. Apple, negative by a 30%. So that weighing on the index is you got Apple down about 70 pennies right now. You got Amazon up by more than half a percent with their deal days going on. We're talking about Google, right? Look at this one. Google up by 1.7% right now. Microsoft up by 1.1% right now. Nvidia shares up by 1.2% right now. Tesla shares up by 7.10% right now. So we got some winners. We got some losers. You jump over to Netflix. Netflix up about 3.10% right now. Interesting article over here from Blueberg. I said we're talking about the Magnificent Seven. Netflix Bulls, I reward after tests of patients. Growth initiative seen extending the stocks 2023 advance. Shares however, nearly 50% below the peak. Sometimes those peaks don't have to be traded if there are peak like that for some time, man. Because that is quite a euphoric peak of $700 and change down to 162. Netflix right now, $166 billion company. You know what's remarkable? I mean, I've been talking about Rivian a little bit this week, right? Rivian, this morning up by 8.10%, they got about a billion shares outstanding. Easy math. Remember that one for Rivian? About a billion shares outstanding. So they're pushing about $20 billion market cap today. They were pushing $180 billion market cap when they first went public. Even at these prices right now, Rivian was valued at more than Netflix is today. Pre-revenue, all this stuff. It just gets a little bit wild when you put it in that type of a context. And did we have something else? I thought it was going to jump. Oh yeah, we'll end with rates. So this one was out last night. You have Michelle Bowman. So she was out in Morocco last night. This one out at 4.17 AM in the morning. The thing to consider here is we wrap up the program. Set interest rates may need to rise further or stay higher for longer than previously, but that actually scales things back from the last time she talked when she talked about multiple rate hikes. So everyone's scaling it back, man, ahead of this November 1st meeting. Folks, stay tuned. We got our man Basil Chapman coming up next with the Tiger Technicians Hour. Thanks so much. We'll see you tomorrow at 9 in the morning. Have a great day.