 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 company alive from TFNN 8 30 a.m. Thursday morning 60 minutes ago until that opening bell and we got a mixed market so far similar action to yesterday in terms of the Dow with the leader Dow up a hundred and fifty points right now about six tenths percent the green trading twenty five thousand six eighty three S&P's positive by three points that's about one tenth percent trading at three thousand and thirty nine Nasdaq futures negative by eighty points trading at ninety three fifty two we got some negative action oil we got some strength and gold oil off twenty two cents at thirty two fifty nine we have the gold contract right now up about ten dollars trading at seventeen thirty eight and with that like doing the program at eight thirty a.m. because we're always getting a bunch of data and especially this morning weekly jobless claims excuse me two point one two three million the estimate was looking for about two million that number hitting the tape right at eight thirty a minute and a half ago jumping into the markets to see if there's a reaction you see a little bit of volatility on this eight thirty a.m. bar we're looking at five minute bars here we spike to above three thousand forty currently sitting at three thousand thirty five all things considered pretty much in line missing it by about eight hundred thousand no excuse me eighty thousand eighty thousand two point one two versus two point zero five so seventy seventy three thousand to be exact missing that number jumping back into the charts of the indices overnight will start things off with the Dow you see the finish yesterday quite a charge higher yesterday reversing for the Dow all of the early losses in the market remarkable turnaround in all the markets you the dog go from twenty five thousand three eighty seven we actually dip below twenty five thousand for a brief moment at about eleven a.m. and we trade higher through the day make a high overnight at about twenty five seven seventy one back up at that level at two a.m. just off that price level S. and P. is yesterday you had about a two percent move down and up from three thousand thirty five basically down to a low of twenty nine sixty six up back by the end of the day to about three thousand and forty almost and you're sitting right at that level we were hired by about ten points at one point in the evening last night backed off that level of it NASDAQ one hundred the laggard NASDAQ ninety three forty four there's your crude oil market thirty two dollars and fifty three cents with the Memorial Day Monday holiday we get crude inventories EIA eleven a.m. this morning natural gas ten thirty a.m. eastern time this morning there's gold trading higher was above seventeen forty gold trading at seventeen thirty eight your U.S. dollar above one ten at one ten fourteen terms of what you have happening across the market there seems to be the headline I was most interested in this morning in terms of China approving Hong Kong security legislation defying President Trump so you have Chinese lawmakers approving a proposal for sweeping new national security legislation in Hong Kong defying a threat by U.S. President Donald Trump to respond strongly to a measure that democracy advocates able curb essential freedoms in the city China locking that down remarkable thing I found here who was the one person in China's rubber stamp legislature good for them I'm curious myself the nationals people's Congress China's rubber stamp legislature approved the draft decision by a vote of two thousand eight hundred and seventy eight to one good luck to whoever that one is over in China today on Thursday six abstentions as well so that throwing some tension into an already very tense situation between U.S. and China you had Secretary of State Pompeo come out yesterday and say their special status was no longer intact in terms of that they were under Chinese control and it's hard to make an argument against that when you see articles like this and no matter what I believe the date is two thousand forty seven the China takes full control twenty seven years when you talk about taking control of a democracy is not a long time and that's beginning to play out right now over there other headlines out there this morning how about Carl icon exiting his hurts trade at a loss of one point six billion dollars quite a price tag so this dates back to two thousand and fourteen he first took a position in the company in twenty fourteen he agitated to oust the then CEO Mark for Sora Hertz is on its fourth CEO since then so he got out fifty five point three million shares on Tuesday for seventy two cents a share his holdings represented about thirty nine percent of the company stock Hertz going to be K they were already struggling I'm just going to back this up a lot to see I mean just remarkable look at look at where the stock was in here is twenty fourteen folks you floated in twenty fourteen at the beginning of the year between eighty and ninety made up to ninety seven dollars you ended twenty fourteen at about eighty dollars he just exited this position at seventy two cents that is quite a price tag for sure and he's saying he believes that as they go through bankruptcy they'll be around but he is not going to be part of that as he is out her chairs fell as much as twenty one percent to one dollar and four cents yesterday in the trading that he came out the on paper loss icon registered from his heart state doesn't take into account though the company spin off of her holdings in twenty sixteen icons fifteen percent stake in the equipment leasing company is worth a hundred and thirty four million still lost one point six billion quite a price tag what I didn't know in reading this is that Hertz was sold by Ford Motor Corporation to private equity funds in a two thousand five leveraged buyout and taken public the next year the company also levered up to buy yeah I remember this one dollar thrifty automotive group in two thousand twelve after a two-year bidding war with rival Avis not wise to be buying up your competition in a market that's about to get decimated by the likes of Uber but her chairs quite a slide you actually meant down to forty cents at one point that's a monthly there's your daily and you see it we're trading right now at about one thirteen by one fourteen jump over some of those ride-sharing companies talk about a rebound we're going to open basically flat for Uber shares this morning at thirty four sixty five with the market that's up a bit lift shares quite a rebound but not quite as high as Uber and I talk about these companies a lot long-term bull on Uber in a big way probably on lift to but you might have to endure a tough year two years three years even on lift because Uber I mean they come out before all of this and talked about that they were going to be cash flow positive by the end of the year and the market really accelerated to these highs above 40 you pull back to thirteen dollars and their CEO comes out and says listen we have billions of dollars we're going to be okay even if business drops off 80% which it basically did but Uber eats accelerating during this so the highs was just we're just above 40 we're at we're back at 35 when you compare it to lift and not even counting this high back here in terms of their initial IPO but if you just start where we were prior to the collapse of COVID you're a 52 and you're still sitting at 33 right Uber is only five bucks away from 40 to 35 whereas on lift I mean you're a solid 20% plus away from where that equity is even far exceeding that actually up to like 50 53 so you're talking about $17 you're like 50% you would have to go up from where you're at right now to get to those high so be wary of lift not as much cash in a tough market and they don't have Uber eats which is a huge difference you see you hear the stories about Uber eats buying Door dashes it I believe consolidating that in industry okay jobless claims 2.1 million the VIX though taking it in stride marketing taking in stride the S&P is positive by five the VIX at 2821 it's still earning season Dollar Tree Dollar General we'll go over those when we get right back stay tuned many of our new listeners have heard about the Tigers dead the Tigers dead is a lively community where professional traders and investors can meet exchange ideas and information in a comfortable moderated atmosphere here all of the TFNN 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 then 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 then on the front page of TFNN.com TFNN has launched our brand-new website you can still visit us at the same TFNN.com URL but when you do you'll see a new and improved home page with a much simpler 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traders and active investors distributor four-side fund services LLC don't forget you can listen to TFNN live on your mobile device 24 hours per day good you TFNN.com then hit watch Tiger TV that's TFNN.com then hit watch Tiger TV for the latest market information so we got S&Ps positive by 3 Dow futures positive by 155 Nasdaq futures negative by 81 lots of good action today as I mentioned you also got us first-quarter GDP at 830 as well falling 5.0% they were looking for a 4.8% that's the second reading of the second quarter US gross domestic product was second reading of the first quarter I believe that's supposed to say the second reading of the first quarter US GDP was expected to remain unrevised at 4.8% that number at 830 the market digesting at all in stride other headlines out there I wanted to pull up this chart Bloomberg had a cool article out there today just talking about a bunch of visuals in terms of how things have changed whether it's talking about unemployment rate rising whether it's Italy the US going from under 3 to over 10 Italy from 10 to 12 you see the shifts across the board the US is the most dramatic by far one of the things that struck me the most was getting into the people affected a majority of only the highest paid US workers can do their jobs remotely quite a stark illustration graphically when you look at share of income broken down into core tiles top next 25% the first being the bottom 62% of the top 25% earners can do their job remotely it drops down to 37% that would be between 50 and 75 20% for like the 25 to 50% earners and if you are in the bottom 25% of earners there's less than 10% chance you can work remotely not surprising unfortunately you know many times when you're earning that you are doing jobs that require whether it's service manual labor being there and your hands doing the work at that level so interesting statistic one to bring that up jumping into the frame of social media you had president Trump out there furious at Twitter he aims to order at tech he aims in order at tech giant so the story here is to expect an executive order I believe the tweet is here it is let's see now that's talking about voting it's tough to keep track how much stuff is flying but nonetheless you have president Trump talking about that an executive order will be maybe expected today how that plays out the legality of that what it is he is the president we will see they are also private companies we will see about that and you got Zuckerberg so Twitter was the one the fact-checked president Trump he twitters really in the crosshairs Facebook trying to get ahead of it Zuckerberg saying social media network should not be fact-checking political speech Zuckerberg catches a lot of flak for that deal literally saying that politicians can almost literally lie and they can promote those ads on their network and it is up to voters to decide what is the truth whether you agree with that or not that is usually a heated topic but check out the volatility on some of these stocks you have Facebook shares down from 230 to 222 Twitter shares this morning down from 33 to 3150 both of those getting hit on that news okay jumping over to earnings you had two of the dollars out today dollar general the discount retailer reported quarterly profits of 256 a share and actually I have two articles up for both of these already dollar general getting into the numbers 650 million net income or 256 a share up from 385 check it out right net income of 650 they made 385 a year earlier sales rose 27.6% to 8.4 billion from 6.6 billion I'm slowing it down because these are magnificent numbers the estimate was a dollar 75 and they came in at 256 to bring it back okay dollar 75 on sales of 7.6 and they came in at 8.4 quite a beat for dollar general check out that action from 187 up to 193 year 189 you also had dollar tree out with their numbers trading even higher from 87 to 95 both the dollars dollar tree numbers getting into those net income 247 million or a dollar or four share sales 6.29 billion up from 5.8 so they were looking for 87 cents on 6.14 and they ended up coming in at $1.04 on 6.29 same-store sales increased 7% with family dollar up 15.5% and dollar tree actually down so family dollar really crushing it up almost 16% same-store sales carrying dollar tree higher on that also on the earnings front you get CRM after the bell today sales force always been quite a force indeed see how they play out in terms of how the COVID epidemic has hit them you go from 195 to 115 back at about 176 gonna open a bit higher their earnings after the bell also in the world of cannabis you get canopy one of the biggest cannabis companies out there they get their earnings tomorrow checking in they're gonna open a little bit higher today quite a volatile session even yesterday from 2050 down almost $2 to 1850 you finish the day right at around 20 bucks speaking of volatility how about Disney Disney coming out with their plans that they're gonna be opening what is to be middle of July so Disney kind of pushing things back a little bit you're gonna see some of the parks opening in June Disney giving it some time want to make sure that they're doing it right Disney has so much at stake that they probably you know if you're just in the parks business you got to get back in the parks business but Disney's not just in the parks business they're in the movie business they're in the Mickey Mouse business they're in the Donald Duck business they're in the Star Wars business they're in the Marvel business they're in the Disney Plus streaming business they're in the Simpsons business they're the Fox business all of that they have to protect and make sure their brands protected and I imagine that's why smartly so I imagine but things are gonna be delayed so since yesterday to 124 25 quite a sell-off was sitting at about 120 91 on Disney ahead of that jumping back to other companies with earnings so far this morning Burlington stores the parallel retailer lost 476 a share for the latest quarter wider than the dollar 55 the market was looking for revenue well below estimates Burlington said it was not prepared to give guidance stores were closed on March 22nd due to the pandemic remain closed through the end of the quarter these are some of the toughest ones right you can't have same-store sales when your stores are closed let alone if you're already in a tough spot competing in a retail sector that's Burlington so you see their numbers from 210 I think it is BURL correct yes BURL their numbers out right now they have a bit-ass 205 by 208 to see the type of volatility they've had you go from 250 to 105 quite a rebound though for retail discount retailer probably having to do with that but back pretty unchanged on those numbers so Amazon said it would offer permanent jobs to about 70% of the US workers hired to cope with the increased demand so they're gonna keep about seven out of ten not bad when I think you're talking about a couple hundred thousand workers potentially so they go over the new story with Twitter and Facebook Donald Trump said tuition executive order targeting social media companies we'll see how that plays out folks American Airlines airline is planned to cut management and support staff by about 30% so American some of the airlines today though as you do get a rotation out of some of the biggest accelerators during this you get some of the airline stocks getting quite a pop even the last couple days so far today it looks like we're even on that but let's check out some of the others Delta has these stocks along with the bank stocks Delta down a bit to jumping around some of the bank stocks continuing higher look at JP Morgan we were just under 90 we're gonna open at 102 78 you're up a buck 50 just from yesterday Bank of America shares from 2598 to 2626 so banks are gonna open higher again city 52 88 from 52 66 we're up almost $10 from where we're trading that which is more than 20% from Friday action in the city stay tuned folks become back finish up the program see what else we have on tap for Thursday trading stay tuned I'll be 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 growth 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 518 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 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newsletters button near the top of the page tfn.com educating investors you know what's cool taking something that's good for you something specifically formulated to help with weight loss better sleep stress reduction and the need to detox nico our hunter and gatherer ancestors found all their nutritional requirements for health in their wild environment but today our food sources no longer contain the vitamins minerals and nutrients our bodies need to stay healthy and strong that's why we need primal edge daily nutrition it includes a special blend of ionic soil based vitamins minerals baddie and amino acids and an easy to use liquid form primal edge is powered by highly concentrated folic and humic acids nature's preferred delivery system they've been called miracle molecules because like sunlight air and water life cannot exist without them that's right page they ensure we receive all the nutrition we need to be healthy and thrive we take it every morning primal edge formulated and approved by nico and page of living a primal lifestyle buy it today for just eighty nine dollars click on the primal edge banner on the front page of tfn.com don't forget you can listen to tfn live on your mobile device 24 hours per day go to tfn.com then hit watch Tiger TV that's tfn.com then hit watch Tiger TV for the latest market information so we got the markets pretty calm to where we kicked off the program S&P is posited by five Dow up 184 Nasdaq negative by 99 jump it back to some companies with earnings last night you had box they're out with their numbers talk about some volatility but we're a little bit unchanged basically up a bit you see the spike to 21 20 getting into the numbers box forecast annual revenue above analyst estimates and beat targets on quarterly sales on Wednesday demand rises for its online collaboration tools I mean check out this stock in the long run you talk about winners and losers you go from 17 down to 8 we're going to open today at about $20 on that company also on the earnings front told brothers they were out with their numbers luxury home builder told brother scraps 20 20 forecast should not be surprising there net income fell to 75.7 million or 59 cents a share from 129 million or 87 cents revenue fell 9.8% toll to L is their symbol we're going to open higher today from 50 to 13 we're going to open at about 35 there's your action on told brothers last night up to 3564 what else we have going on head on over to the front page of tfn and I just added up there it is our man Basil Chapman review of Basil's favorite technical tools that have produced strong gains in 2020 come on over to the front page sign up for the opening call Basil Chapman does a great program every day at noon Tiger technicians hour and he'll be in there with subscribers for 90 minutes tonight from 4 to 5 30 lots of topics covered how he's been trading the market check it out on the front page of tfn and 90 minutes beginning at 4 o'clock tonight and all of those new subscribers get a 30 day money back guarantee you have nothing to lose check it out on the front page of tfn and calm finishing it up with news items in terms of earnings as we wrap it up work day work day fell 4 cents a share short of estimates quarter the earnings 44 cents we also had hpq earnings will jump to those two W day there's work day spiking higher up to almost 180 from 170 and hpq with some action lower to 1580 now at 16 from 1712 stay tuned folks should be an interesting day in the markets getting some serious volatility recently stay tuned Larry Pezzavento coming up live at 9 o'clock live programming all day at tfn and stay tuned folks will be right back