 Network TFNN headline news update Good morning everybody I'm Tommy O'Brien company alive from TFNN 9 a.m. Eastern time Friday morning happy Friday to everybody out there 30 minutes to go until the opening bell and right now we got markets in positive territory look at an S&P positive by almost 2% 59 points in the green trading at 3059 Nasdaq up 147 trading 9751 the Dow up 561 trading 25,000 590 Let's start things off. Let's jump over to the VIX contract. My computer's a little slow right now. I think that's going on. Continue performance problem detectives telling me tell this computer to keep up. There we go. Checking out your VIX talk about an elevated price yesterday to 42 58 from 26 and change folks were back to 37 the remarkable thing about the VIX is that it was indicating elevated premium elevated risk probability in this market because you reached a low on Friday morning yet the market was still hanging at highs. But somehow the VIX was as they would say creeping all week even above 27 on Tuesday the S&Ps were still at 32 or 100. And of course you see the collapse on Thursday people say out of nowhere you're going to see this type of volatility nonetheless VIX at 37 35 you check out the overnight action for the S&Ps we make a low at about 6pm last night in the S&Ps that level below 3000 if my chart will cooperate isn't going to load. There it is 2992 after the market closes were up to about 3057 a solid rebound but this type of volatility always fun to see what happens on the opening bell. And if the market was right overnight or if when the buyers and sellers actually meet at the opening bell maybe things cascade back to even territory for the day hurts. So why not you tell the world you're going to go bankrupt you go into bankruptcy proceedings and then your stock goes up by 10 fold and you say hey why do we need to go bankrupt when we can just issue more shares if everybody wants to buy her shares. They're going to try and raise a billion dollars folks I would not be buying this hurts said it would warn any potential buyers the common stock could ultimately be worthless period end of sentence buyer beware numbers on the radar UK that economy contracted by more than 20% in April those numbers out the global economy the IMF saying it's going to stutter sig suffer significant scarring they are out with their projections June 24th and they're going to be worse than they were in April and what else did I have up there yeah the mortgage bailout some numbers going down still 4.66 million people almost one out of 11 mortgage holders in forbearance right now those numbers are going to come to roost stay tuned folks Larry Pezzavento coming up live with trade what you see I'll be back at 10 o'clock with Tom live programming all day we'll be right back stay tuned for Larry.