 The following is a presentation of TFNN the morning market kickoff with your host Tommy O'Brien. Good morning everybody. I'm Tommy O'Brien coming to you live from TFNN 8 30 a.m. Wednesday morning 60 minutes to go until the opening bell. We get some volatility in the markets folks. We got 80p private payrolls out. We added jobs but only about 167,000 I believe you know what let's jump right over to the number because private payrolls the headline is much worse than expected. We get non-farm payrolls about 48 hours from right now Friday 8 30 a.m. I'll be on the air live for that and there it is yes increased by just 167,000 jobs in July well below the estimate of a million and represents a tumble from the 4.3 million added in June. So we add back 4.3 million in June and we only add 167,000 in July. Things just stop as we have some hotspots whether it's Florida, Texas, right, California and now some other states as we have hit some of the peaks in some of those hardest hit areas. But nonetheless so that hitting the markets a little bit of context on where we've been we reach a high of 3321 as about a.m. 8 a.m. You sell off a bit on the payrolls number you reach a low in the SMPs at 3310 I say low low in the volatility that we had in the last couple hours but right now we're back up about 17 points in the SMPs 3316 pretty remarkable how close we are to those all time highs now in the SMP I mean talk about a rocket ship folks we've had some volatility from the highs in early June of 3227 we sold off in an instant but since then and really we've maintained this trend line I mean even you know it doesn't take a master shortest to see the kind of trend we have and the SMP holding steady on that trend 3317 within about 80 points of that all time high Nasdaq up 20 points 11103 right now we hit a high of 11144 putting this on a 15 minute you see the highs made at about 6 a.m. Little bit of a sell off as well 745 and 8 in the morning just above 11100 the Dow up 188 points 26906 for some context in the Dow almost made it to 30,000 before that dramatic sell off pretty remarkable that we got 11,500 Dow points you sold off and I think this bar let me see I think this bar is going to show us there it is I had the bar going back when we were down here in the lows of March in the Dow you had essentially traded back to a price level of December of 2014 the high in December of 2014 8,000 18,051 we came within 35 Dow points of that level in March and currently about 27,000 the highs about 2600 points higher all right we got to jump to gold why not keep it on this chart for a while before we jump away gold on a monthly basis dramatically charging higher in a big way look at these bars on a monthly basis the month of July we go from 1766 to 2005 and already today quite the acceleration in the last 48 hours early Tuesday gold contracts trading at 1982 we charge up almost $80 80 to a high of 2060 and 20 cents overnight we're backed off a bit 2052 for the price of that gold contract silver up almost a dollar right now 2699 for the price of that silver contract and jumping around to that note market 10-year note off a bit off about 66 right now at 140 05 still that 10-year well above the area that we had consolidated for a while we're now above that area just inching towards the 1.40 24 high back in March that 10-year yield just above 510% pretty much a half a percent remarkable all right we got to get into Disney Disney earnings after the bell last night looking too open to the tune of almost $8 higher quite the pop on their numbers so you initially dip lower down to 113 36 and just like that the conference call began last night at 5 excuse me 430 starts off relatively calmly there's 430 these are five minute bars there's 435 there's 440 and the 445 bar comes around and they announced that they are launching a new streaming service under the star brand that they acquired from Fox they also announced that Mulan which had been pushed back multiple times for theatrical release Mulan gonna be made available on a pay-per-view basis within Disney plus for about $29.99 I think it is so they're gonna have premium movies within Disney plus maybe the ones that ordinarily would be those blockbusters and they they call this a one-off though right they can't release this movie right now it's supposed to be an epic movie I think it cost them a couple hundred million dollars maybe to make and they're saying hey you know what we can't push this back for a year or two we're gonna have other movies that we want to release in a year or two we're gonna release this a one-off we're gonna test the waters maybe we'll get some more subscriptions with the ability to collect the $29 from current subscribers so nonetheless and the streaming service launching a new streaming service entirely boom like a rocket ship the market takes off from about 122 no excuse me 118 so we're trading almost even as in we close out the session at 117 and change we get some volatility they announced that service and Disney like a rocket ship takes off now this morning we've got some upgrades for Disney across the board as well we're up almost $8 at $125 for Disney putting things in some context on where Disney has been Disney the highs of June we're not even back up to there yet 127 and change basically we were as high as 153 41 pre-covid $79 the low in Disney and getting into the raw point of their numbers as we got it up there it is so there's a lot going on here they also announced 100 million paid subscribers now the market did not accelerate higher on that number that was not what did it and that's why listen into the earnings call it was when they announced the completely new streaming service under the star brand so they're gonna have an entirely new streaming service and they're also gonna release that Mulan movie direct to consumers they're gonna have another investor day in a couple months where they talk about how they're gonna accelerate things into Disney plus but when you add up Disney plus Hulu ESPN they're now at 100 million paid subscribers Disney plus alone as of Monday of this week 60 million subscribers originally their estimate was between 60 million and 90 million subscribers by the year 2024 they did it within one year of launching they launched November last year by August you have 60 million subscribers pretty remarkable when you look at that and the market likes it they actually made 8 cents a share the market was looking for 64 cent loss that's on an adjusted basis because they had some big charges in here they had an adjusted basis of excuse me Disney reported a net loss of the quarter force point 72 billion due in large part to charges related to its earlier acquisition of 21st century Fox including severance and contract termination costs and integration expenses so there it is 2999 beginning September 4th revenue they missed 11.78 billion versus 12.37 but did post that pop profit on an adjusted basis so Disney shares right at around 125 this morning what else we got going on in terms of earnings win out with their numbers putting it on a short term basis you see the volatility last night to 71 up to 74 we'll get into those numbers a bit and what else we have on tap for trading this morning checking out the VIX as this market shrugs off that private payrolls number S&P's positive by 16 the VIX at 23 31 stay tuned folks up here at back many of our new listeners have heard about the Tigers den the Tigers den is a lively community where professional traders and investors can meet exchange ideas and information in a comfortable moderated atmosphere here all of the TFN shows plus see all the charts as they happen live and have access to archives of all those charts you can test drive the Tigers den absolutely free for 30 days and greatly enrich your knowledge of these markets and how to make your money work for you details on the Tigers den or on the front page of TFNN.com 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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 foresight fund services LLC 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 for the latest market information welcome back folks S&P is posited by 19 points 3318 popping right back to almost the session highs we had before a little bit of a sell-off on those private payroll numbers jumping into other companies with earnings beyond meat with their numbers last night not quite what the market was looking for you go from 146 basically on the spike high we close at 142 we spike up to almost 146 and then quite the sell-off down below 128 at one point we're currently down about $10 from the close yesterday at 132.75 in beyond meat and to see what they had to say beyond meat so grocery sales nearly triple offsetting restaurant losses grocery sales soared almost 200% during the quarter ended June 30th but food service sales slid as restaurants universities office buildings temporarily shuttered company did not reissue in that outlook and they came in at net loss 16 cents revenue 113 million beyond reported second quarter net loss of $10 million about dollars or 16 cents a share wider than the loss they were looking for 9.4 or 24 cents per share a year earlier excluding costs related the company lost two cents a share nonetheless the stock I mean it's been quite a run it's had even at 132 graphically you're talking about right here quite a consolidation maybe between about 120 up to 140 and change spike to 160 still pre-covid we're at about 120 on this stock okay maderna out with their numbers second quarter revenue jumps five fold on coronavirus vaccine development revenue jumped to 66 million from maderna during the quarter more than five times the 13 million it took in during the same period last year higher than the 27 million projected by analysts quite a number MRNA is their symbol and we are actually lower though there's your volatility quite the expectation conference call beginning at 8 a.m. currently trading at 76 60 came in at 78 46 company narrowed its second quarter lost to 116 million from 134 million they say they're up more than 1% they got to update that article because that ain't true no more we were size 82 you spike to 74 right as the conference call comes to begin about 45 minutes ago I assume they will have some volatility today as they have been one of the more volatile stocks from $20 $30 up to 95 we're going to open about 76 from maderna shares well and there we go we get more Madera news as they're on their conference call right now vaccine at 32 to $37 per dose for some customers you're going to see some volatility is that conference call progresses CVS out with their numbers as well jump as the retailer raises the 2020 forecast strong quarterly results adjusted earnings per share will be in the range of 714 to 727 getting into their numbers fiscal second quarter net income almost $3 billion or 226 a share up from almost $2 billion a year earlier not bad excluding items there in 264 share higher than the 193 the market was looking for revenue up 3% to 65 billion from 63.43 market was looking for 64.23 so they took in more than a billion extra dollars the market was looking for CVS shares there's your daily we're going to open higher this morning we're at 65 yesterday on the close and we're currently trading at about 67 spike this high as 70 76 at one point in CVS shares mortgage rates a new record low 3.14% for the average fixed 30 year mortgage mortgage applications to purchase a home also fell for the week down 2% but 22% higher from one year ago pretty remarkable all these interest rates I covered at the top of the program the 10 year actually pulling back a bit for the first time in a while 140 04 still when you look at things in this context folks context 139 22 was basically the higher range going all the way back to the spike high from March we hit that high starting 1st in April we hit it again late April we hit it again in May we came up to this level late June late June all through month of July and we are dramatically above that even on the pullback today of 7 ticks at 1403 you can see the trend and it is upwards with lower rates coming at us all right I'm sure we all saw the explosion in Beirut pretty remarkable visual explosion and the carnage done over there keep some white light and some prayers over to the people in Beirut because that is a catastrophe of epic proportions going on there and it's unfortunate reports coming out that maybe there's been a modium nitrate stored there since like 2014 yet 20 had 2750 tons of ammonium nitrate had been present for six years in a warehouse that they were storing there that they confiscated originally in 2014 when it was coming in through a port not the stuff you want to see folks huge loss of life and unfortunate so keep them in your thoughts today all right what else we got going on so just as we're coming on the air you have President Trump I believe he was out on Fox News and he is talking about quote unquote a big number coming out Friday on jobs we live in a new normal time folks whether you think that is good or bad pretty hard to deny that this is a new normal going on that you have the president leading economic indicator numbers that are expected in 48 hours but guess what it's happened before and pay attention so we just got private payrolls maybe part of the reason why the market just shakes off private payrolls is you have the president out there already cheerleading jobs number on Friday that we don't get for 48 hours but nonetheless in June 2018 he tweeted an hour before it looking forward to seeing the number and it was a crush to the upside and we'll see what happens let's see the they're looking for 1.264 million jobs in July I wonder how that changes with the private payroll number missing this morning in a big way but nonetheless factor that into what is going on all right some of the tech stocks quite a run they've had Apple finally getting a little bit of a downgrade from Bank of America as we jump into stocks making moves you go up to the top here Bank of America downgraded Apple to neutral from buy and and and help me understand this one while raising its price target on the stock to 470 from 420 I like that why not right it's pretty great when the only time you get a downgrade it's accompanied by a price target raise not bad the firm said there are many positives for Apple but risks as well risks as well and the risk reward is balanced at current price levels I mean basically what they're saying is listen they're going to do really well but doing really well is already priced into this stock we're trading at 436 we reached 212 was the lowest you're more than 100 percent you've doubled the stock since the lows even pre-covid you're at 325 you're up $110 you're 33% from the highs pre-covid let alone this year some of these tech stocks Microsoft quite the acceleration as well we're going to open about 213 from Microsoft got to take a look at Amazon shares going to open basically flat at 3136 for Amazon Netflix has had quite the run-up right you go from 252 less than a year ago your COVID lows just below 300 and we're sitting this morning at about 509 for Netflix shares the the acceleration in Disney and does not seem to be getting them the way of Netflix shares and we'll jump back to Disney as Disney right now sitting at about 124.60 for that stock as it looks to open higher on their earnings all right folks stay tuned we'll come back see what else we have on top we'll go over other earnings after the bell tonight S&P's positive by 16 you get the NASDAQ positive by just five right now in the Dow Dow almost leading the way up almost 200 points right now stay tuned folks we're right back in three minutes back in the day i joined the hotel california in 2006 and like many of you was drawn in by as well as whatever you think about you bring about whatever you focus on grows you see i believe that everything in life happens for us not to us and tom ignited the fire within me to want to learn how to master the markets so how did i go from knowing nothing about technical analysis to becoming the number one market timer for the s&p 500 in 2018 and the number two market timer in 2019 simply put i hired coaches with a proven track record which led me to a whole new set of tools that i created to interpret the message of buyers and sellers i would love the opportunity to teach you this award-winning set of tools and help you improve your market timing you can test drive my newsletter service mastering probabilities for the next 30 days with no risk to you plus you'll gain access to archive workshops that'll take you step by 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the front page of tfnn.com 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 for the latest market information welcome back folks we just had the nasdaq futures inch into negative territory for a brief moment we've sold off about 60 points from the highs we had overnight highs overnight 11,140 you're currently trading at 11,086 the dow up 190 points 26,905 s and p's holding on to well 15 points of gains jumping around to other equities with action so far today so we covered apple we covered cvs disney for sure beyond meet as well weight watchers out with their numbers excuse me lower than expected profit and revenue for the second quarter hit by pandemic related halt the company formerly known as weight watchers did offset part of that drop through its digital offerings weight watchers quite the drop they had last night on their earnings from 2650 down to 2350 currently trading about two dollars lower from last night at 2450 for weight watchers nova vax reported positive results in an early study of a vaccine candidate saying a produce promising immune responses as well as tolerated by patients and vax is their symbol I believe there it is so last night from 103 to 198 how about that one folks talk about some volatility on that stock pretty remarkable you're going to be trading that you better be trading some options and even if you're trading options watch out folks uh blackstone out with their numbers a deal in place excuse me now their numbers yeah they're going to buy ancestry dot com for almost five billion dollars I've used interest i got my genetics there uh go figure i'm irish in a big way along with my dad there you go uh ancestry 4.7 billion dollars quite a price tag but they got uh they believe it's worth uh what they're going to pay for it and win win lost 614 a share wider than 498 the casino properties revenue also short of forecast we'll jump over to win there's your win action the 7394 the other thing I was going to cover exxon mobile they're not even going to match 401k contributions for employees anymore beginning in october be wary folks uh you trade higher this morning but that's pretty dicey you work for a big oil company you can't even get a 401k match stay tuned we got our man larry pezzavento coming up live next for this market open we'll be right back folks thanks for tuning in stay tuned