 TFNN headline news update. Good morning everybody I'm Tommy O'Brien coming to you live from TFNN 9 am Eastern time Wednesday morning 30 minutes to go until the opening bell and we got markets and negative territory but we're off the lows S&P negative by just 19 points now at 3099 we're about 20 points off the lows that we made at about 4 am NASDAQ futures negative by 25 points at 10,171 after making all time highs yesterday Dow futures right now negative 196 point to 25,824 we've got oil under $40 at 3972 we got the 10 year yield ticking up at 0.72% we're going to start things off with the VIX that volatility index back above 30 we were flirting with 29 handle yesterday actually spiked to a high in the VIX of 3376 with a little fear in the market negative territory right now sitting at 3231 and what does it have to do with a lot of trade concerns a lot of COVID concerns 3.1 billion dollars potential in new tariffs on the EU in the UK that coming out last night with that in mind you got Europe down big you got the Dax down about 1.8% right now the FTSE down what 2% the CAC rolled down 1.7% as all of that playing into trade concerns tariff concerns hitting both economies whether it's the US or the EU and the UK other factors playing in there COVID virus surging across the US throwing reopenings into disarray to get into the numbers for the US we're talking about 2.3 million cases folks over 121,000 deaths there's your seven day curve as I mentioned on my program you get into the numbers 35,000 plus cases yesterday the first time that we've hit that number since dating back to June 24th you're talking about two months exactly to the day and we got record cases surging as we try and reopen other headlines out there home homebuyer mortgage demand ticking down but still a remarkable 18% higher than a year ago and just as I came on the air we're getting this headline that the IMF slashes its forecast for the global economy and warns of soaring debt levels all of that playing into the markets there's your S&P chart though guess what we're climbing out of the lows as I mentioned excuse me last night is trade from 3125 down to a low of up 3081 and check up you can't hold this market down folks you can't do it I say it sarcastically but every single day in charges back we just made up talking about 25 points off the lows that we made at about four or five in the morning 3105 and the S&Ps with 28 minutes to go until that opening bell stay tuned folks Larry Pezzamento coming up live with trade what you see for the market open from 9 a.m. till 10 a.m. Eastern time live programming all day at TFNM we get those oil numbers at 1030 as well stay tuned folks Larry Pezzamento coming up right now