 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. Tuesday morning, 60 minutes to go until the opening bell and we got markets in negative territory to kick things off. S&P futures right now, negative by about 12 points, trading at 32.19, NASDAQ futures negative by 55, trading at 10,620, Dow off 135 points, 26,349, we've got oil off about 10 pennies at 41.50, 10-year yield back above 6.10%, barely though 0.604%, the yield on that 10-year. We have the oil contract right now, as I mentioned down about 10 pennies and you have gold trading down $12 at 1918, we're gonna start it off with gold, why not? We got a lot of gold bugs out there, quite the run it's had, up to 1974, but check it out folks, from 9 o'clock last night to in the span of about, yeah, that's 11 o'clock, you drop $45, you make another drop and you touch the low, how about 1,920 pennies, $75 just like that, you're gonna see some volatility and gold at these pricey levels, not quite to $2,000 yet, but still now we're $26 off the low at 19.2640 right now in those gold futures. Silver contract, negative 67 cents, you see the volatility in silver as well, from 26.27, how about it folks? We go from $26.27 and just like that, we're at a low of $22.46, how about $4 almost in the price of silver from about 11, we'll call it 10 o'clock last night till 3.30 in the morning, but since then we've bounced a $1.50, 23.89 the price of silver, as we mentioned, 10 year yield, look at this action in notes and bonds right, the volatility last night. Note market, you trade to lower price of $139.08 and since then we're up a bit at $139.17, alright and we'll jump right into it, big week of earnings this week in the S&P, McDonald's out with their numbers this morning, 30% was the number that they decreased in terms of revenue down, right now you're trading down about $5 from 201 to 196, we'll jump to the headline on McDonald's and there's the excuse me, so revenue falls 30% despite progress at US restaurants, US same store sales shrank 12% during the first two months of the quarter. Fast food chains like McDonald's of course recovering faster than the overall restaurant entry industry excuse me, drive-through is open as we all know, you can get McDonald's on Uber Eats, DoorDash, those types of delivery services, the company will require face coverings inside all US locations starting August 1st, coming from Florida folks, hopefully that curve is decreasing and hopefully masks can get that under control, so I like to see that McDonald's expected, no they are already reported, okay so that's what they were looking for, nonetheless those numbers out, I think maybe this, I had this up early this morning, let's see if they have the numbers in there, here we go, earnings per share they had 66 cents versus 74 revenue, they actually beat it 3.77 billion versus 3.68 expected, second quarter native income almost 500 million, that accounts for the 65 cents a share down from 1.52 billion or almost $2 a share a year early, you see how it eats into everything there, no pun intended, largest miss in more than three decades, the estimates covered a wide range of course, estimates all over the place, net sales dropped 30% to 3.77 billion, global same-store sales declined by 23.9, I mean you look at McDonald's in context of the long run over the year, it's gotten back almost the entire loss from a price range of about $210 to $220, it was bouncing around pre-COVID, you hit $124, even this morning we're going to open at about $196, there you are is the bar of $196 on this chart right now from McDonald's at $201.25, all right we also have Pfizer I believe out with their earnings this morning, PFE is their symbol, we're up a bit, there's your long-term chart for them, talk about some volatility of course, they're in the healthcare business whether it's COVID, a vaccine, a treatment, there's the action on the short term, you see the volatility up to about 38.70 from 37.50 and getting into Pfizer numbers, they up their 2020 outlook after reports better than expected earnings, net income fell to 3.43 billion in the quarter, they had made over 5 billion the prior year, but they raised their full year outlook expecting to earn between $285 and $295 a share, they were looking previously for $282 to $292, I mean they upped it by three pennies, they're going to generate between $48.6 and $50.6 billion for 2020 and they had previously been at 48.5, so nonetheless upping their ante this morning in terms of their outlook, 3M profit, so they're out as well, of course the maker of N95 masks and so forth, misses as coronavirus crisis hammer sales, so industrial conglomerate, 3M, they got a lot going on more than just masks unfortunately for their shareholders, missed estimates for the quarterly profit and revenue on Tuesday, the worldwide lockdown slapped a man from most of the company's products, although a drop was cushioned by somewhat cushioned, somewhat by strong sales of course for those masks, let's see, it was on track to meet its target of doubling its global output of N95 respirator masks to 2 billion by the end of this year, the company's net sales fell to 7.2 billion from 8.2 billion, jump over to their chart this morning, and there's the drop from 163 to about 158 so far on their earnings this morning, all right, jumping around to other stocks with earnings, we covered McDonald's, 3M, Raytheon out with their numbers as well, they earned 40 cents a share, well above the 12 the market was looking for, revenue beat as well, performance was impacted by challenges in commercial airspace, yeah I would say so right, RTX I believe is their symbol, there's Raytheon from about 61 up to 63, we're sitting at about 62.45, that conference call beginning right at 8.30 AM when we came on the air, we covered Pfizer numbers as well, Polaris the recreational vehicle maker, they made $1.30 a share more than double the consensus, revenue also came in above forecast propelled by a 57% increase in North American retail sales, so recreational vehicles at a time when you're at home, you can't travel, you can't do what you might have been doing normally, so you go buy yourself a recreational vehicle from 97.97 last night up to almost 110, we're sitting at 103, this stock as well, look at that pop from $37 and we're gonna open at 103 this morning for Polaris, some of these stocks, if you just figured out the trends of where things were going, so homemakers, homebuilders excuse me, DH Horton out with their numbers, quarterly profit 42 cents a share above the estimates at $1.72, revenue also above forecast helped by what are called increased buyer urgency due to low mortgage rates and limited supply, depending where you are of course, but DHI, there's your chart on them, now we're gonna open at 68.50 this morning from 25, these homebuilders, there's your volatility on their numbers and the conference call, same thing, starting pretty much right when we came on the air for DH Horton, all right, checking out the VIX this morning with a little bit of negative market action, S&Ps are negative by about 11 right now, the VIX has slightly elevated 25.56 right now, looking at the 15 minute chart as we come into about 50 minutes until the opening bell, goal contract 1928, holding that balance we had off about 1900, climbing up to where we were at about 530, stay tuned folks, we'll come back, see what else we have on tap for earnings this week, bed week as well, meeting starting today, statement out tomorrow, we'll be right back. 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That's an earnings call from an airline trying to spin things the best way possible in the airline industry. The New York based airline forecast third quarter revenue will likely fall around 80% on the year. Staggering when you look at where you know we're at 90% one quarter 80% the other quarter air travel just nowhere near it. So the airline carried just 616,000 passengers in the three months ended June 30th down more than 94% from the 11 million that blew in the same period last year. So you have 11 million customers the prior year and you have 600,000 for the quarter this year. Revenue plunged about 90% from the second quarter of 2019 to 215 million from more than 2.1 billion. You're taking in 2.1 billion in 90 days and you shave that off and then you're taking in only 215 million. I mean 90 days you're talking about what's that 2.2 million a day versus basically averaging almost 20 to 25 million a day normally. So big numbers there's jet blues action on their earnings. We're pretty much even from where we were as this is pretty priced in on what's going on on these airlines from $21 to 6 we've settled at around 10 maybe up to about 11 or 12. All right, what else we got going on Labcorp out with their numbers as well. It's a good time to be in a lab business. Labcorp quarterly revenue beats on higher demand for coronavirus testing. They also got almost $56 million in government stimulus quite a number when you're beating revenues in huge ways because their numbers I'm jumping around here but they earned a $257 a share for the latest quarter well above even the dollar they were looking for. Okay, these articles jump around to some of the numbers that they list in here. They were processing 180 80,000 they are processing 180,000 COVID-19 tests a day. Yeah, the company reported net revenue of 2.77 billion. The market was only looking for 2.5 billion. You know part of that the $56 million government stimulus. Now, what is their symbol excuse me L H yes there it is Labcorp. So talk about a rebound from 98 to 201 short term this morning we're trading higher 209 we almost made it to we're sitting in about 204 for Labcorp as they're trading higher as well. All right Sherwin Williams. Tom and I always joke about it my dad on our program Sherwin Williams painted green while Sherwin Williams it's got some green paint for itself today. They made 710 a share for the second quarter above the estimate of 585 a share revenue slightly above forecast. Some of the company's markets were impacted it did see an increase to do it yourself related paint sales as consumers stated home due to COVID-19. Again, you're sitting at home. Is it time to paint that house? Well, why not get on it right now from 625 were up $30 right now to 655 quite the pop on that stock and talk about an acceleration folks. We're going to open basically right in the realm of about 100% pop from the lows it made of 325 down from about 600 almost maybe 590 pre-COVID we're going to open about 650 for Sherwin Williams. Man you put it I mean talk about this run that it's had and that is late 2018 early 2019 we started about 371 you make it up to 600 COVID brings us all the way back to below those lows and just like that we're going to open about 650 for Sherwin Williams this morning. So Intel in the wake of disclosing that they're not going to be able to make seven nanometer chips until like two years from right now. They are losing their chief engineering officer leaving the chip maker just a few days after they announced those delays for the seven nanometer chips. He will depart on August 3rd after having joined Intel from 2015 from Q com Qualcomm and Intel shares. There's a drop off for you. Now this is a weekly chart we're looking at you're talking about going back in Intel all the way to the beginning of 2018 how about like almost three years just like that for reference. There's AMD chart where the beginning of 2018 we were at $11 and we're going to be at 70. It's almost a seven bagger in AMD and Intel you got nothing to show for it over that time so not really surprising to see that going on. I mean Intel those articles being written saying I don't know how they compete with AMD at this point when they're so far behind the game so I don't know how they do that. Tesla getting a downgrade to underperform from market perform at Bernstein in an evaluation call the firm's price target remains at 900 a share compared to the close of 1539. Tesla talk about some volatility was sitting this morning a little bit lower. There's your fully for a weekly chart. Here's the action this week down to 1366. I guess last week yesterday's action climbing higher currently we're going to be open a little bit lower about 1514 and Tesla. Yeah Garmin so if you've been following this story Garmin the victim of a hack it appears. It could be a ransom hack where they're requesting 10 million dollars is being reported. That would down it seems that they've restored everything within basically now to the next few days following the cyber attack that took the systems down last week. I believe it was Thursday. When you see a company like this folks getting attacked demanding ransoms maybe it'll come out that they paid it 10 million dollars not a lot of money when you have a business like this that's what hackers know. Garmin from 105 to 61 you see the volatility will put it just even on the last week. There's your volatility on Thursday action the drop on that news the drop again from Friday to Monday but then somehow a charges higher we're at about 100 right now on Garmin as well. All right other stories we have going on so Bill Gates out here Gates Foundation does a lot of great work with vaccines and saying there could be substantial reduction in coronavirus death rate. In terms of the treatment going on and hopefully this is death rates not what they were at the beginning. I was talking with someone yesterday saying man if Florida had the numbers like we had right now at the beginning you probably would be maybe in New York maybe in Italy thankfully that's not the case and hopefully continues that way. And therapeutic benefit faster than protective benefit as in you know you can get some therapies to treat people a lot quicker than we're going to be able to produce a vaccine for hundreds of millions of people encouraging news I like to see that and hopefully that's how things continue. All right jumping over to yields as we mentioned yields sitting just in about six tenths percent checking out right now up as I mentioned that yields now ticking below we're sitting at 0.5 94% on those yields but talk about holding steady right this chart I mean if you see this this movement alone a little surprising for the first time we got some real action 13908 I say first time because a 16 tick move in this 10 year when you see where we've been trading we haven't had much movement basically away from this line of 13922 the lower end of that about 139 flat we're sitting right near the end of it towards the upside 13919 all right let's jump around some of the fang stocks as we await putting in a shorter time frame Amazon shares at 3048 right now and I'm going to pull up earnings that we have this week folks because today is Tuesday here's what's coming down the pipeline we've talked about some of these companies that are earnings already today we'll jump over to visa in a moment as well tomorrow Facebook Boeing GM GE Qualcomm and then on Thursday the main course with Apple Alphabet and Amazon those companies alone the three companies they represent 13% of the S&P 500 market capitalization we'll take a look at those companies when we come back stay tuned folks we'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 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 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 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other action we have going on how about the start of a two-day fed meeting their July meeting begins today two-day policy meeting no policy or rate change our forecast however central bankers are expected to reassure financial markets that they will continue to use their extraordinary programs to help the economy at an interesting time right because we get the fiscal stimulus going on with congress that battle going on between republicans and somewhat between republicans in their own party figuring out what they want and then they're going to have to have a good negotiation with negotiations with democrats from there and that cares act expiring yesterday and they have their own corona coronavirus relief plan having to do with 70% wage replacement replacement up to about $500 a week I believe those details still to be ironed out but that going to play out in the short term head on over to the front page of TFNN folks last week you can get in as a charter member say 50% rocket equities and options report I have a full weekly report out on Mondays daily updates as well check it out on the front page just enter promo code rocket at checkout choose the monthly and you lock that in for as long as you remain a subscriber it's a great time to try all the services we have folks we got the opening call up there basil just did a webinar last week gold report great time to be in the gold market for excuse me okay one final check in the markets as we rounded out and we got a treat folks we got our man Steve Rhodes come he's going to be filling in for Larry next so stay tuned for that right now SMP is negative by 10 Nasdaq futures negative by 40 and as I mentioned the real meat of it Thursday going on with Amazon Apple and Google Alphabet reporting and Apple shares 378 60 stay tuned folks Steve Rhodes coming up next