 The morning market kickoff With your host Tommy O'Brien Morning everybody. I'm Tommy O'Brien coming to you live from Tf and then headquarters in St. Petersburg, Florida 8 30 a.m. In one hour left to go in excuse me left to go We'll get it started one hour to go until the opening bell Wednesday morning We got markets starting off in positive territory Dow futures up a hundred and thirty six points trading at 28,842 at S&P's positive by 11 trading at 32 90 It's almost a solid 60 S&P points now off the low that we had on Monday Nasdaq futures up 46 points trading at 91 51 We've got oil up this morning trading up 47 cents at 53 90 not 53 95 the 10-year yield 1.62% will start things off this morning We'll start it off with the VIX as you'd expect quite a run from the lows We've had in the indices a couple days ago To the highs now 1524 as volatility gets sucked out of this market and indices continue to trade higher Lots of earnings this week going on We're gonna start it off with the indices before we jump into Apple and the likes of we have McDonald's this morning Starbucks AMD GE Wall Street 30 Dow 30 28,849 making pre-market session highs right now as we speak you back things up to yesterday the close of action There is your 4 p.m. Closing Bell at about 28,700 you see the volatility and you see that we trade higher for most of the overnight session S&P 500 pretty similar action last night. We got to pop it around 8 p.m. 8 p.m. Eastern time we're sitting about 32 76 we make it as high in the futures as 32 91 just off that level of 32 88 There's your Nasdaq 100 trading at 91 48 right up there near session highs as well Crude oil we mentioned trading higher. We get the EIA inventory number for crude two hours from right now 1030 a.m. Eastern time. I'll be on the air with Tom for those crude catching a bid up to 54 27 and the gold contract trading at 1569 actually made it to a low last night at 1562 and the euro US dollar under the 110 level training at 109 97 Getting right into the earnings the biggest of them all last night Apple rising as earnings and iPhone sales quote unquote smash Expectations quite a quarter for Apple taking in more than a billion dollars a day in revenue Quite a quarter indeed Apple's revenue up 9% to 91.8 billion dollars 90 days 91.8 billion not bad beating its own guidance Apple's earnings partially powered by iPhone revenue up 8% On the strength of that iPhone 11 the new iPhone models 55.96 billion dollars Apple trying to become a services company away from the iPhone But pretty remarkable in the quarter 60 billion dollars straight iPhone sales breaking it down further There's your earnings per share 499 the estimate only 455. There's the revenue number 91.8 billion versus 88.5 you think about it So this is the holiday quarter usually their biggest quarter to remarkable to think that as we come into Next year Apple could have potentially a hundred billion dollar revenue quarter as they approach it I mean just staggering numbers iPhone revenue 55.96. They were only looking for 51 point six two the thing to remember is They have been trying to transition to a revenue company for services away from the iPhone But boy, oh boy, they really crushed it out of the park and iPhone sales Does this warrant the multiples that Apple is trading at right now? That's the discussion you're hearing around Wall Street right now because Services revenue actually misses 12.7 billion versus 13.07 other products now a 10 billion dollar Quarterly number 10 billion versus 9.52 the margins they beat 38.4 versus 38.1 And then in terms of revenue 63 to 67 billion they got quite a range there the market though only expecting 62.5 So above it across the board and margins in terms of guidance 38 to 39 the expectation 38.2 checking in on Apple Up about a little more than 2% last time I checked spiked all the way to 327 90 now trading 323 96 closed yesterday at 317 Apple had quite a banner day yesterday though itself went from 307 Up to almost 317 $10 up almost 3% Yesterday ahead of the earnings and still looking open higher this morning other companies out there reporting this morning You got Boeing they'll have quite an interesting conference call I imagine this morning Boeing posting first annual loss in more than two decades as the 737 max crisis Continues will jump over to their chart in a moment But last time I checked Boeing trading higher on these numbers Boeing posting its first annual loss since 1997 due to that 737 max crisis Boeing's bill from the crashes has roughly doubled to nearly $19 billion and Boeing said it lost six hundred and thirty six million in 2019 marking the company's first annual loss since 1997 in stark contrast to the profit it posted 10.46 billion in 2018 before that second crash the dismal results come as Boeing struggling through the crisis of the 737 max Boeing reported a loss of 233 a share for the fourth quarter last year Revenue in the last three months of the year dropped 37% to almost 18 billion compared to 28.34 billion you got to keep in mind they got all these planes You're sitting there in storage waiting to sell as they can't push them out to their customers The debacle's cost bowings cost to Boeing are rising to more than 18 billion the company said roughly double What it outlined in the previous quarter that amount includes an additional 2.6 billion pre-tax charge Compensate airlines and other max customers because the grounding Boeing had taken a 5.6 billion Pre-tax charge in the second quarter to compensate its customers jumping over to Boeing shares this morning as I said last time I checked there you go quite a charge higher on those numbers the market like certainty Maybe the market was just a little bit worried that things could be even worse coming into this not really sure any type of certainty 32801 that's $12 that's up more than 4% right now for Boeing from where they closed yesterday at 366 other stocks big week of earnings this week this week alone 145 stocks of the S&P 500 reporting I believe we get Facebook after the bell jumping over though McDonald's earnings the headline here beating Wall Street estimates last time I checked on wall McDonald's trading lower We'll jump over to their chart in a moment But Boeing beating Wall Street estimates helped by price hikes as US traffic foot traffic declined now Walmart one of excuse me Walmart McDonald's one of the stories out there in terms of closing stores in China But getting into the numbers earnings per share buck 97 versus a buck 96 Revenue right in line 5.3 versus 5.3 Global same-store sales. These are always just mammoth numbers 5.9% versus 5.2. That's across the entire globe. It's just remarkable that they can beat Even when the expectations 5.2, but jumping over to McDonald's big Mac shares this morning Yeah, got a spike to 214 But as I mentioned actually trade down to 208 looking open marginally lower McDonald's this morning trading at 209 20 And other earnings out there on the front as we wrap up this segment We'll get into this one after the bell But we got star Starbucks outpaces earnings estimates, but warrants coronavirus could hit fiscal 2020 we'll leave that lingering as we go to the break checking back in on the futures markets S&P's right now. There is your chart. There is the low that I mentioned For the fear on Monday 32 33. There's the gap from Sunday night to the open on Monday We basically closed that gap now as the markets charge back coronavirus now up to about 6,000 people in China We'll touch on that as well. Stay tuned folks. 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How about g e trading up now 7 percent the headline earnings top expectations G's closely watched metric of industrial free cash flow came in at 2.3 billion for 2019 Topping its own guidance of between zero and two billion not bad Their numbers 21 cents a share versus 18 cents expected you have revenue of 26.24 billion The number they were looking for was 25.57 While the company's quarterly results were better than expected g e's 2020 earnings forecast came in below what analyst surveyed g e said expects earnings of 50 to 60 cents a share next year below 67 cents they were looking g e's forecast for industrial free cash flow next year also higher than expected though That probably a big number as they got to get their their act in order cash flow a big deal Cash flow will come in at 2 to 4 billion in 2020 notably above the 1.2 The market seems to be reacting to the fact that they're going to have cash to turn around this company Look at that charging higher closed yesterday at 11 73 looking to open at 12 55 this morning quite a number And other news out here weekly mortgage applications surging over 7 percent as rates fall on coronavirus fears the 10 year right now I believe we're sitting at about 1.62 percent. Yes, we are 1.622 to be exact Morgan Morgan trades fell to their lowest level since november and that sent current borrowers and potential home buyers to their lenders Applications to refinance a home loan which are most sensitive to biggest interest rate swings increased 8 percent for the week And we're 140 percent. Excuse me 146 percent higher than a year ago mortgage application applications to purchase a home increased 5 percent for the week and were a strong 17 percent Higher than one year ago overall mortgage application volume jumped 7.2 Percent last week from the previous week according to the mortgage bankers association seasonally adjusted index The average contract interest rate for 30 year fixed rate mortgage with conforming loan balances decreased to 3.81 Percent from 3.87 with points ranging Excuse me the points increasing from 0.28 For loans with a 20 down payment still a pretty magnificent number 3.8 percent in a 30 year Big numbers as you'd expect as we get a decrease in rates with the market escalating to the downside a bit In terms of what else we have happening. I encourage you to check out on the front page of tfnn We get the morning market report up there this morning We talk about the apple beating the iphone sales some of the headlines that i've talked about in the program this morning Morning market report So we have the futures numbers. We have apple numbers in here that i got into as well There's your apple chart this morning. I wanted to touch on the big week of earnings So today the two biggest of them all for today facebook and Microsoft some of the others we already touched on we have bowing AT&T i'll pull up that chart in a moment McDonald's we touched on as well after the bell also tesla quite a chart We'll pull up facebook microsoft and tesla right now to see how they are trading ahead of Their earnings facebook closed yesterday at 2 17 79 getting a pop this morning Okay, there we go. I was making sure earnings on 129 after the market think or swim. They're just letting us know get ready for them And 2 21 is where it's trading at right now. I love to get into the analyze tab Let's see what kind of a move we're expecting on facebook as they're going to look for their ad sales $9 and 60 cents right now is what the market is pricing in Basically, if you're buying a put and you're buying a call at the money for almost one day That's what you're going to be paying combined for a one move One way move one way or the other about ten dollars almost on facebook. They're pricing in microsoft Microsoft looking at about a five dollar and 46 Price movement closed yesterday at 165 46 and tesla Let's see how much volatility the market's looking for tesla. How about that one folks $52 As you get a little bit of volatility priced into the chart of tesla and that equity still quite a number five 6690 tesla closed at yesterday the market pricing in $52 that that price may move that that chart may move It wouldn't make sense if you're going to be selling a put and a call to somebody and you're going to be absorbing premium How much premium are you going to want to absorb on a stock like tesla if you're going to give them the Availability of defined risk. I'm going to need some premium, but i'm going to be absorbing that volatility And then let's pull up the charts. So there's facebook. We touched on There's your microsoft chart closed yesterday at 165 46 looking to open at 167 27 and we set on microsoft $5 and change the price That's factored in for the one day move on microsoft and tesla closed yesterday at one excuse me 566 90 up at about 572 50 right now tesla though excuse me $52 Priced into the movement of that equity as they report earnings after the belted day Stay tuned folks. We'll be coming back to wrap things up in the program. Don't forget I'm going to talk about it when we get back tonight larry pesavento four till 5 30 He's got a subscriber webinar. Check it out on the front page We'll talk about what he's going to be going into when we get back from this break. 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That's tfnn.com and hit watch tiger tv for the latest market information Welcome back folks markets pulling back a bit from where we were s and b up about seven points right now Dow futures up 122 nasdaq up 32 as i mentioned front page of tfnn tonight 4 p.m Right after tom's program larry going to be in there with subscribers to fibonacci 24 7 90 minute webinar If you can't attend live this will be archived You can watch it right on your members page as many times as you'd like if you can't be in there from 4 till 5 30 A number of talk topics He's going to be talking about folks how to find an update the key harmonic numbers to trade against in futures Forex and stocks how to translate three go-to patterns into supply and demand and how to use them for entry The continuing importance of the opening price in 2020 how to use fibonacci numbers to indicate a continuation move How to use the time of day when taking a position and for entry into longer trends Covering how to read supply and demand and how in combination with his abcd patterns You can control risk and maximize profit in today's algodominated markets Just a quick glimpse folks for what he puts out. This is the update he put out for subscribers this morning He's got a video about the dow jones up there crude crude oil video up there for subscribers a gold video up there for subscribers You gain access all to all of this immediately and also sunday nights puts out actually Just so comprehensive you gain access to this every week just to give you an idea sunday night video Charts of the week I mean i'm just scrolling so fast folks because this is what he puts out every single weekend along with updates monday Tuesday wednesday videos you see what's going on. He's got the fang charts in there for his subscribers He's got futures charts in there. So check it out right on the front page of tfnn You can sign up 30 day money back guarantee Whether it's monthly six month a year add some savings to that subscription still comes with a 30 day money back guarantee And i'll be in there with larry tonight his subscribers I encourage you to check it out on the front page of tfnn And do it right now because then you'll be ready because larry pesavento coming up live right after this program With trade what you see kicks things off every day for the opening bell at tfnn I appreciate you joining me folks. Stay tuned. We got larry pesavento coming up right now