 TFNN headline news update Good morning everybody I'm Tommy O'Brien company live from TFNN non-amister time Thursday morning 30 minutes to go until the opening bell And we got markets sitting in red territory right now with the S&P's just under 3200 trading at 3195 That's 24 points in the red. You have the NQ futures minus 128 points trading 10,053 the Dow off 221 trading 26,544 oil off 50 cents at 4070 We got gold contract off $8 at 1805 and the silver contract off 11 pennies 1965 notes and bonds a little bit of higher price and lower yield the 10 year up four ticks at 139 15 you're looking at a 30 year up 20 ticks at 181 in terms of those bonds. Let's see where they're trading bonds yielding point six 0 9% so approaching that 6 10th percent yield you back up bonds and we are like approaching you see those highs We're the upper end of that high we bounce around you could say anywhere from about 138 15 to 139 15 Right at the upper end of that boundary with yields of 6 10th percent on that 10 year All right, we got a lot of news stories shape in the action this morning We'll start it off with weekly jobless claims 1.3 million for the last week This number coming out at 8 30 a.m. This morning the market was looking for about 1.25 million. That is the 16th consecutive week of a million jobs Initially claimed quite a number and it looks to be pretty stagnant at that level We'll see what happens retail sales for the month of June coming out as well better than expected 7.5% month in June increased they were looking for about 5% so retail sales hit in the tape at about 8 30 as well We got earnings this morning couple banks Bank of America shares dropping as it sets aside another four billion dollars For loan losses related to the coronavirus Morgan Stanley crushing it on trading revenue Profit of 3.2 billion or $1.96 a share the market was looking for a buck 12 revenue 13.4 billion exceeding expectations by three billion dollars big numbers in trading for Morgan Stanley as was the case with Goldman Sachs and JP Morgan last couple days and Johnson and joff Johnson their profits sliding as the coronavirus forces hospitals to forego elective surgeries We'll start off Morgan Stanley. Let me zoom it in because we're gonna open a bit higher from Morgan Stanley There's your action on their earnings pretty muted action right Johnson and Johnson shares Looks to be up a bit from their clothes yesterday and Bank of America shares though lower at 23 89 the VIX this morning trading 2870 stay tuned folks. We got a man Larry Pes vento coming up live in three minutes And while you're waiting for him head on over to the front page of TFNN and check out my new report rocket equities and options Stay tuned folks Larry coming up right now