 The following is a presentation of TFNN. Good 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. Thursday morning, 60 minutes to go until that opening bell and folks, we got markets in positive territory. Why not? We'll kick it off. S&Ps right now, positive by about eight points, trading at 32.74, we're about 10 points off of where we were on the highs overnight though, 32.84 in the S&Ps, NASDAQ futures up 73 points, trading at 10,877, Dow up 80 points, trading at 26,960, and you get the Russell right now flat at 14.89, oil negative 19 cents at 41.71, quite a day for oil yesterday, charging higher, charging into highs at about 5 a.m. of 42.36, we've backed off a bit from that price level, jumping over to gold, quite the acceleration, you have gold hitting 18.8790 overnight, we're about $10 off that level, still positive by $12 on the session at 18.77, silver backing off a bit off 25 cents at 22.88, and we're looking at the note and bond market folks, guess what, higher price lower yield, the 10-year up two ticks, 139.20, the 30-year up six ticks at 180.26, so we're going to jump around to a couple headlines, starting things off, weekly jobless claims, 1.416 million is the number, that number just coming out at 8.30 a.m., basically 100 seconds ago, two minutes ago, weekly jobless claims, always Thursdays at 8.30, so these are initial jobless claims, these are people who are initially, in the last week, for the first time, filing for an initial claim of 1.416 million people, the number they were looking for was 1.3, 18th straight week of initial claims rising by more than a million, so that hit in the market right at 8.30, what you also had out here is minutian, so you have a couple stories, I'm going to jump around a bit, so here's the first story I was going to mention, it's pretty tough when you first have to get a deal between the Republican president and the Republican Senate, and then you have to get a deal between the Republican Senate and the Democratic House, which has to be approved by the Republican president, and so the first hurdle that seemed last night was getting the Republican president, Trump, on board with the Republican Senate, McConnell, they seem to have a deal in there. Of course, that was talking about payroll taxes, the amount that they're gonna go for, it seems to be about a trillion dollars, and then you have this morning coming out saying minutian, talking about the GOP plan for unemployment extension will be based on quote unquote 70% wage replacement, so this just hit the tape in the last 15 minutes. There were a bunch of different ideas thrown out yesterday, right? As of Wednesday, so it's the much talked about $600 per week is the unemployment benefit in the CARES Act, this is the last week of that going on, if that expires, we're just back to state unemployment benefits, in many states, Florida, one of them, very low levels, nothing near the wage replacement in terms of being near what you would have making in a job, doesn't mean the government should be providing that, but it's a steep, steep drop off. As of yesterday, the idea thrown around was from $600 a week to $100 a week additional through the rest of the year, that would be quite a drop off for those relying on unemployment benefits out of work. Now it seems like the idea being thrown around is 70% wage replacement for an unemployment benefit. That just hit in the tape. We're gonna see a lot of reactions in the market, folks, we get the S&Ps, we're up about four points now, pulling back a bit on whether it's a weekly jobless claims number hitting right at 8.30 exceeding, look at this runoff, we just traded from 32.75, we're now trading 32.69, putting this on a little 15 minute to see for the week, we had quite a strong acceleration, I mean, even yesterday, right? These lows in the S&P yesterday, we traded up 50 points from where we were at five in the morning, 32.27, up to 32.84 and about three in the morning overnight. All right, we gotta jump around to some of the companies with earnings. Last night, we had two big ones, Tesla knocking it out of the park. They trade up to 17.16, excuse me, we're still up about $70 trading at 16.60 this morning for Tesla. And before we jump into the actual numbers, you had Microsoft out there as well. And I was saying last night, thinking to myself, I wasn't saying, I was thinking to myself when these numbers came out, I said, man, no matter what happens to the NASDAQ, these tech stocks just always rebound. I wonder what the action is gonna be like overnight because I imagine as I'm looking at this stock, and it was settling at about 207 last night, give or take, I feel like this thing's gonna be up whether it's overnight or by the end of the day today. But the market's pulling back a bit, Microsoft holding up well though. Let's get into these two numbers for the giant. So Microsoft first, that's what strong numbers, when you look at the world we're dealing with right now, right? Cloud, cloud could be everything for some of these companies in the future, the amount of margins you can make on cloud revenue. Microsoft's Azure cloud slowed to 47% in terms of growth from 59% the previous quarter. So they still grow at 47%, yeah, grow at 47%. Microsoft's revenue growth forecast, lighter than expected for the current quarter. Market never likes to hear that. Getting into the numbers though, they made $1.46 a share. The market was only looking for $1.34. How about taking in a billion and a half extra dollars than the market was looking for in 90 days? They're taking 38.03. The market was looking for 36.5. Overall revenue grew 13% on an annualized basis in the quarter. Folks, last year Microsoft was taking in a lot of money. This year, they're taking in 13% more money than they took in last year. Revenue went up 15% in the prior quarter, which saw less impact on the coronavirus pandemic. Nonetheless, Microsoft paid the penalty overnight. When you're looking at where they were, capital expenditures 5.8, lots of numbers in there. Nonetheless, they are lower, but charging back Tesla. So Tesla out with their numbers, they're talking about a lot of things, quite a profit for them. I think we get the numbers down here, do we? No, this is just talking about, all right, we'll pull up Tesla earnings, but they made more than $2 a share. The estimate was for barely a profit. The key factor there, four consecutive quarters of profitability, that puts them eligible for the S&P 500. And as you can see, they crushed it out of the park. They made $2 a share. The estimate was for basically pennies a share in profit. And you had Tesla spiked to $17.16, we're at $16.56, S&P is right now positive by $3. Twitter also out with their numbers this morning, quite the pop as they saw quite the growth in daily monetizable active users. Let's get into the Twitter, where are we on Twitter? Here we are. There's a lot of earnings folks today. And after the bell today, we get Amazon and Intel. How about that one? Twitter reports strong user growth, ad revenue is down. So they got a lot more people on the platform, but they got a lot less advertisers paying money to market to those people. Loss per share, $1.39, weighed down by a $1.1 billion loss related to non-cash deferred tax asset revenue, $683 million. They were looking for more than 700. Now the big highlight here though, which probably is what has the market charging higher, $186 million monetizable daily active users. They're only looking for $172. And check out this growth. Daily users defined by monetizable by Twitter, quite the pop here. When you look at the US international growth across the board, we're now approaching, what are we at? What was the number that they're at? 186. And quite the pop there. So Twitter shares this morning trading higher from $36.94 to $39.09. All these stocks though, not even close to the expected move. I think Twitter was looking for almost $3, right, you had about $2. Microsoft was pricing in about $9 in movement, you're less than $4 away. Tesla was pricing in $200 in movement, and you're only about $70 away. Stay tuned folks. We'll be right back in three minutes. Many of our new listeners have heard about the Tiger's Den. The Tiger's Den is a lively community where professional traders and investors can meet, exchange ideas and information in a comfortable moderated atmosphere. Hear all of the TFNN shows plus see all of the charts as they happen live and have access to archives of all of those charts. You can test drive the Tiger's 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 Tiger's Den are on the front page of TFNN.com. TFNN has launched our brand new website. 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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. 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&Ps right now holding on to those gains up five points. We got the Nasdaq futures up 69 points. The Dow positive by 26 jumping around to some of the other companies with earnings action this morning. We got a lot of them folks. We will kick it off. So Chipotle actually last night after the bell I believe right. Let's check that out. CMG. Yeah. There you go. Last night after the bell. You spiked to 1191. We're currently trading at 1164 down from 1185. Strong numbers. I mean digital sales triple in the second quarter but can't offset dining room closure. So Chipotle's digital sales soared 216% during the second quarter as more customers ordered their burritos online. It's always tough using percentages off of small numbers folks. Digital sales soared 216%. What were you doing last year because you better have knocked it out of the park when everybody stopped eating in your dining stores and started doing business online. Companies net sales fell almost 5% from the year earlier period. There you go. Even with that type of digital sales growth can't replace the amount of action that they had going on in their dining rooms. Chipotle recently pledged to hire 10,000 new workers as digital orders drive sales growth. Futures come in folks. Earnings. 40 cents a share. Not bad versus 35 cents. Revenue 1.36 billion versus 1.34 also not bad considering what they were dealing with there. Chipotle though as you can see lower a little bit on that action. All right. Southwest. American. United. We'll start it off. Southwest post $915 million loss. Here's the key and it makes sense fundamentally folks. Global demand will remain weak without a coronavirus vaccine. International travel. Not even close. Southwest. They're pretty domestic. Whoops. LUV is their symbol. You see the action a little bit lower 33.06 from 33.30 can't imagine how we come out of this in terms of the airlines being anywhere near where they were while this coronavirus is raging in almost any capacity. Yes, you can travel but what are you traveling for? Are you traveling for a wedding? Because I have a wedding that was potentially, I have a wedding that was supposed to take place in April in Boston. That of course canceled. Postponed originally to September. Possible that that could happen as a resident of Florida right now where things are raging. If I went there, there's a possibility. I mean in New York right now, I know I'd have to quarantine for 14 days. Not sure what the policy is in Boston. I don't know if I'd feel comfortable just driving up or flying up from Florida with COVID raging and going to that wedding. You're just going to see travel dramatically cut until this is done. So all these airlines, nonetheless, Southwest really putting it out there though, 33.06. American with their numbers pretty much flat from 33.36 to 11.41. What else we got? United. United. Okay. So they had theirs two days ago. Yeah. 31.80 is what they're trading at from 31.67. American they post a $2.1 billion loss. We just pulled up their chart pretty close to even action right now. Dow, Dow out with their numbers, quarterly loss, coronavirus hit, plans to cut workforce by 6%. Dow Inc. DOW, I believe it's their symbol. Yep. There's their earnings from 44.34. We're trading pretty much a little bit lower at 43.50 right now on Dow. Whoops. All right. So Morgan Stanley getting into coronavirus, we'll jump to more equities because we got a lot of earnings even this morning as well. Got a statement out here from Morgan Stanley going on, cases could reach 150,000 a day by the fall. I mean, folks, we're about to hit August. The fall ain't that far away. Morgan Stanley analyst says, so biotechnology analyst Matthew Harrison, he's talking about 150,000 new cases unless we get it together, folks. Previously, the second wave of the fall, they were looking for only 40 to 50,000. Things have accelerated. The one good thing, I'll pull up Florida numbers right now. Let me just find this. I don't know what we have, but I think, okay. So these were the numbers yesterday. It's going to be tough to see these. Perfect. Let me zoom them in. Okay. These were the numbers yesterday. Here we go. Perfect. So no, these numbers yesterday? Yes. So these are the numbers released yesterday. They were released on the 22nd of July and they are current as of the previous day, right? The 21st of July. So a couple of things to go over here. Number one, you're still dealing with almost 10,000 cases a day. 5752 for the day. Decent testing numbers. It's not like testing numbers are spiking, folks. It seems like they are testing. There is a backlog at some areas, but one encouraging thing here you have to look to. I mean, we can't be excited about 11% going forward for positivity rates, but that is the first time that we are dealing with an under 11% positivity rate in Florida. For at least the last couple of weeks, now not encouraging is that the average age continues to rise from 30s, 34 was the original median age we're talking about when now at 42 for the median age. Not what you want to see, but hopefully this trend continues here in Florida with under 11% we're as high as 18.53, I think. That's going back about two weeks ago on July 8th. These numbers are what you want to pay attention to down here there. First time tests when people are getting tested multiple times, okay? Florida Department of Health breaks this out, folks, all right? You hear a lot of arguments saying, people get tested, they get tested every single day when they're positive and they drive up the results, yes, they do, okay? But Florida Department of Health breaks it out, first time tests, there's your number. No distortion, 10.55%, first time people are being tested, not counting people who are tested multiple times, all right? Excluding people who have been previously tested positive. So when you hear people talk about the numbers are being distorted because if you're positive, they test you every single day. Tell those people that the Florida Department of Health puts out numbers that exclude people who have been previously tested positive so that you can accurately tell the number positive. There you go. All right, folks, today, what do we have going on? Our man Basil Chapman, he's gonna be live with subscribers for the opening call, four till 5.30, 90-minute webinar, will the same chart formations unfold for the second half of 2020, or must we find new patterns? Basil, check out the opening call, folks, you can sign up, you get a 30-day money-back guarantee. You head on over here. What he's gonna be talking about? How he's used time and price relationships, talking about for the first half of 2020, the cup and V-shaped pattern worked on the way up, will we have to look for inverse pattern soon? Will the high-tech sector take a breather, allowing other sectors to rally? What clues would suggest an infrastructure play is possible and attempting a longer-term outlook? This webinar will be archived, folks, 90 minutes in there with Basil. When you sign up, you also gain access to all of his archive webinars. He's got a good five or six of them in there. 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So check them both out. Sign up for Basil. Sign up for mine as well. Check them out. If you don't like them, always 30-day money-back guarantee. All right, let's check back in on the markets. These markets, they're breaking off a bit. Right now, $32.66. Look at this S&P. Since 8.30, when we started the program, we were up at $32.75. We've given back about 10 points and we're now basically where we were overnight and you see the pop we had at about 2 in the morning from $32.67 up to $32.84 and we just gave it all back. $32.66. Dow negative by 10. S&P is positive by 1. Stay tuned, folks. We're right back. 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. 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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 for the latest market information. Folks, we got the S&P is clinging on to green positive territory by less than a point right now. We might squeak into negative territory by nine o'clock and there we go, we're flat. You get the Dow right now negative by 15, NASDAQ positive by 46 and there it is, S&P negative by one quarter of a point. Checking out that acceleration folks. That weekly jobless claims hit in the tape at about 8.30 this morning and the market pulling back a bit. We've given back about 10 S&P points on that price level since that number hit at 8.30. All right, jumping around to other equities with action so far this morning. So I mean, it just keeps flowing folks, there's so much too much to cover right now. Boeing supplier braces for significantly fewer max deliveries through 2022. Let's just see how Boeing's reacting as you have the Dow at 14 points. A little bit of a pullback maybe off that news from 180, 40 to 179, 22 markets pulling back at the same time as well though. All right, we're going to jump around to some of our companies with earnings. We have AT&T out with their numbers, Blackstone, Pulte, the home builder, beat estimates by 28 cents a share, quarterly earnings of a buck 15, they're higher this morning. Blackstone, earnings per share of 43 cents with the value of private equity portfolio jumping 12.8% in the quarter. So AT&T, strong numbers up to 30, 52 from 30, 16, BX, Blackstone higher as well to 58, 60, Pulte, PHM, check out this pop on them up to 41, 28 from 39, 44 yesterday. We covered the airlines, we covered Dow, yeah, auto nation trading higher. So the auto dealer earned adjusted 141 a share well above the 37 cents revenue also above forecast as well. Here's your action on auto nation from 48.85 to 55, we're trading back at 52.55 right now. We covered Tesla, Las Vegas Sands, lost $1.05 for the second quarter, wider than the 74 cents the market was looking for. Some of these casino stocks are already pretty much pummeled from 46.84, we're going to open a little bit lower after their earnings last night to 46.29. All right, folks, stay tuned. We got our man, Larry Pezzavento. Coming up live next with trade what you see should be an interesting day in the market. We got weekly jobless claims and we got Amazon and Intel earnings after the bell, Microsoft and Tesla, they're going to open up on their earnings. Stay tuned, folks. Larry Pezzavento coming up live next.