 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 AM Wednesday morning 60 minutes to go until that opening bell and we got markets right now in positive territory. We're right back in the middle of the trading range we had on yesterday S&Ps up by 11 points trading at $32.24, got the Nasdaq up $72 at $10,612, Dow up $59 points trading $26,356. Quite a night for gold as well up about $6 reaching $19.77 putting that on some context that's a new high for gold. Make a print quite an acceleration you put things on a 15 minute in gold. Talk about reclaiming the entire $75 run we had from early Monday night that is to the lows early early Tuesday and quite a charge back from 1900 on the dot we're currently trading 1970 at the price of gold. Crew contract 41.43 up on 39 cents on the session we get inventory numbers for crew 10.30 AM two hours from right now Tom and I will be on the air for those. Notes and bonds pretty flat action right now you got the tenure up one tick 139.23 we reached a low early yesterday at 139.08 we're kind of just settling back into the area we've been comfortable with and there's your action there's the bar I've drawn a couple highs to date 139.22 139.21 139.22 and we're dealing with highs over the last couple days within basically one to two ticks of that price level and we're right back at 139.25 all right jumping around to what else we have happening this morning we got a lot of earnings we'll jump through Boeing will start it off with a little bit higher on their numbers there's your volatility Boeing closed yesterday at 170.84 we're currently trading at 172.85 pulling up their numbers to start things off reporting a net loss of 2.4 billion they slow aircraft production amid the coronavirus we can demand in addition to its grounded 737 max the band is also slipped for Boeing's higher priced 787 Dreamliners so they have their conference call two hours from right now at 1030 in the morning loss per share 479 the market was looking for 254 revenue quite a miss as well 11.8 versus 13.16 revenue fell 25 percent 11.81 from 15.75 remarkable that Boeing still took in 12 billion dollars almost when you think about what's going on the problems they're having with the 737 maxes and no airlines flying but they're set to detail the impact Boeing has more than 470 planes sitting on the ground that haven't been delivered to customers most of them that 737 max quite an inventory they're dealing with there's the action on Boeing this morning up a bit on their earnings all right before we go through we got GE GM Spotify Starbucks but before that we are looking for where are we there we are Mr. Powell so Fed Day concluding today out with the statement all but expected to stay the course but it'll be really looking for what they're going to be doing in the future future guidance and what they're going to have to say wind down the two-day meeting at 2pm eastern time statement followed by a press conference by Jerome Powell I believe that starts at 230 so I imagine the market going to calm down right as we get towards that whether it's 12 one o'clock at least as we wait for Powell to come out on what they are going to do in the future and how they're prepared to deal with an economy that is not quite back to anywhere near pre-covid levels okay getting back into earnings general electric shares are higher after second quarter revenue slightly better than expected revenue 17.7 billion for GE they were looking for 17.1 loss per share though 15 percent excuse me 15 cent per share loss the market was looking for 10 GE shares on that action there's your pop from 690 almost 689 to 720 currently trading at about 703 their conference call began at 8am eastern time all right GM out with their numbers as well before we jump to the numbers trading higher to 2744 from 2633 jumping back to GM numbers 800 million dollar loss they're trading higher on these numbers folks but this is the world we're living in US vehicle sales fell 34% from a year ago lost about 800 million and burned through billions of dollars in cash in the second quarter let's see so 34% drop in US vehicle sales they had made 2.42 billion during the same three months last year company burned through about 8 billion dollars in cash during the quarter my goodness a number that analysts investors are closely tracking yeah they better be it expects to spend between 7 and 9 billion in the second quarter that's quite a number you're talking about 17 billion dollars over 180 days GM positive on that news but for some context as I like to say from 35 to 14 I mean we're going to open at 27 we were trading at 30 before the world knew of COVID and what it was going to do to the economies and you're talking about a country that just burnt a country company that just burned through 17 billion dollars in 180 days and you go from 35 just to 26 27 but let's jump over to Tesla from the car companies Tesla trading higher today at about 1500 there you see the recent volatility it's had putting it on a shorter timeframe for Tesla 1499 car up a bit for Tesla shares this morning okay what else we have going on before we continue with the earnings big day for the tech sector as you have Facebook Google Apple and Amazon they are all in front of Congress we'll see how that happens in terms of what they have to say and the questions that they face cool story out here for Kodak shareholders so Trump announces a deal to manufacture generic drug ingredients this chart folks wait till we jump over to it Eastman Kodak stored on Tuesday after Trump announced a deal to work with the photography pioneer to produce ingredients and generic drugs in response to the coronavirus the US government awarded the company 765 million dollar loan to start producing drug ingredients under the defense production act the first of its kind 33rd use of the defense production act will mobilize Kodak to make generic active pharmaceutical ingredients Trump said in a press conference Tuesday evening we will bring back our jobs and we'll make America the world's premier medical manufacturer and supplier codex that on Tuesday will produce pharmaceutical components that have been identified as essential but have lapsed into chronic national shortage as defined by the FDA all right I think it's EK is that symbol let's see Kodak KODK maybe he's in something wrong there you go look at this acceleration right so you go from Monday night you trade in the range of between eight and 12 yesterday and you're going to open you close at eight and you're going to open almost a hundred percent higher at this point even from the close yesterday currently trading right at around 15 for Eastman Kodak talk about a reversal of fortunes a lot of reversal of fortunes going on I mean this is going back the year you really got to stretch things back look at this right from 37 and 2014 to $1.50 in March of this year and you're going to open back at $15 back in this level you were trading at between about 2016 remarkable action all right let's jump back to the markets we'll check out the VIX this morning we get the S&Ps up about nine points VIX trading $24.98 made it as low as $24 yesterday and checking in on gold as we get ready for this first break gold holding steady about 1970 this morning stay tuned folks we'll come back from the break see what else we have on tap for Wednesday trading big day earnings tomorrow as well we'll take a look at some of those companies and we'll be right back in three minutes stay tuned 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 or 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 homepage with a much simpler navigation whether you're watching Tiger TV live in high definition or just accessing your newsletter subscriptions we even have new pricing in six months and yearly options check out the new TFNN.com now and experience all the upgrades TFNN.com educating investors the gold market has taken off top side in a large way in 2020 if you want to take advantage of this sector now is the time to subscribe to my gold report the gold report took profits in four of its equities in the gold portfolio in the first week of January for a combined profit of 99.2 with two positions left in the portfolio that have a profit of 67.5 as of January 7th the 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about direction shares to obtain a prospectus or summary prospectus please contact direction shares at 866-476-7523 the prospectus or summary prospectus should be read carefully before investing 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 distributor four side fund services LLC 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 this S&P is positive by eight we get the NASDAQ positive by 47 the Dow positive by 39 and we got Shopify positive by more than $100 not bad folks all-time highs for Shopify this morning charging higher on pretty dramatic numbers we'll get into them in a moment we closed yesterday at 985 the bid ask 1093 by 1094 and it's just climbing the conference call beginning when we came on the air at 8 30 a.m. and it's already up almost $20 from when they began so things seem to be going well on that call in terms of what they're talking about shares jump after they report a revenue increase of 97% so check out these numbers the uptick in demand for e-commerce platforms accrued to Shopify in the second quarter second quarter revenue rose 97% to 714 million from a year earlier the estimate was only for 513 million percentage wise staggering you almost can't overstate how big of a beat that is when you're only supposed to take in basically half a billion dollars and you take in almost three quarters of a billion dollars you got their CFO of course out there touting the value proposition on full display in our second quarter and we use Shopify it is a great platform for TFNN so you can understand it's remarkable the acceleration though right at the right time they make things as easy as possible people move it online to service their business and this stock I mean for some con we were down in almost $300 in Shopify originally you go from about 600 pre-covid down to a low of let's find out exactly 305 and we're going to open I mean it's almost going to be a four-bagger pretty soon at 1200 from the lows in Shopify currently like I said the all-time high right now 1074 and we're about $20 above that level climbing towards 1100 I mean even look at look at since I pulled it up this thing is accelerating folks 1100 for Shopify all right what else we got going on getting back into earning Spotify paid subscribers hit 138 million as streaming demand rebound so Spotify in the news recently right they pay for that Joe Rogan podcast possibly a hundred million dollars a year getting more into the podcast business out with their numbers pretty good numbers 138 million premium subscribers which account for most of the company's revenue up 27% from a year earlier analyst we're looking for 136.4 so they beat that by about 1.6 million and revenue was 13% to 2.22 billion US dollars for the three months not a bad deal taking in 2.2 billion dollars in 90 days and Spotify there's your action on Spotify though man oh man let's talk about price for perfection from 268 we're down to 256 the conference call beginning at eight in the morning but they did not like those numbers and uh yeah there's there's more buried in there it's always about the forecast possibly what what are you going to do for me the next three six months etc okay jump it over to Starbucks shares higher as investors shrug off the coffee chains loss and hope worst of the pandemic is behind it is the quote they come in with an adjusted loss of 46 cents for the fiscal third quarter the customer the company estimated that it lost 3.1 billion in revenue due to the coronavirus they open 130 net new locations globally I mean that's pretty remarkable to be open 130 new locations across the globe as this is going on jumping over to Starbucks shares to see where we're at this morning there's your pop higher from 74 up to 80 sitting at 74 48 that's quite a pop for this company uh last night with their numbers for some context again from basically about 90 uh even as I back this out Starbucks one of the companies they were hit early on because of their exposure and their business in china so you're looking at this probably in january as things are shutting down in china not quite sure that we were going to have to face the same uh consequences of course we did but this is where you saw the pain begin really for Starbucks we're trading about 93 you deal with some volatility then the us markets fall out of bed so we're dealing with 90 down to 50 we're going to open this morning at about 78 and again that's right where we are even in early june when the market had that run you had Starbucks as high as 83 62 actually now you're dealing with stuff though i'm seeing headlines out there you know hong kong may have a a break an outbreak of this going on so it's something that's very fluid and maybe maybe there's some fear in here that it could creep back into the asian markets which they are exceptionally exposed to so getting into it loss per share 46 cents market was looking for 59 revenue 4.22 market was looking for 4.07 fiscal third quarter net loss 678 million down from 1.37 billion a year earlier for their income costs related to the pandemic paid leave safety measures all of that net sales dropped 38 percent so there's your number global same-store sales plummeted 40 during the quarter but consumers spent more on their orders sending the average check up by 23 percent amazing how these trends are changing winners and losers same-store sales fell 40 in the quarter i was looking for if they said something about you know how they've how they've recovered in terms of june in china starbucks second largest market same-store sales declines less steep falling only 19 percent and 12 percent of the orders were for deliveries okay jumping around to other stories out there for earnings you got barkleys out there post profit slide they set aside 1.6 billion pounds for their related loan losses doge bank out with their numbers earnings beat as restructuring continues amid the pandemic so they net loss or triple you share how those 77 million euros for the second quarter beating the expectations let's see how they're trading this morning for whoops there we go db and we're going to be a bit lower let me get into there's your action uh is that doge bank yes it is 901 so far this morning all right let's pull up some of these tech stocks they're going to be in front of washington we got amazon shares ain't no thing up about 35 dollars as they prepare to be in front of congress zuckerberg facebook positive as well with the market s and p's are up about 10 so you got facebook up about a dollar 30 ahead of that number google shares alphabet 1511 from 1500 on the dot last night and of course whoops apple aap l 375 57 some volatility recently for apple some context look at that drop off from 399 to a low of 356 currently trading 373 right now on apple all right let's jump over to oil oil we got our crew numbers 10 30 a.m pretty interesting where this is settled out right i have this marked on the chart this was where oil really fell out of bed we had coronavirus fears already rocking we're dealing with march 6th here the date south arabia comes out dramatically starts a price war cuts things overnight to a dramatic price tag you have oil go from march 6th trading at 46 to march 9th trading at 27 the low of that march 6th date 4105 on that date and we've just been very very comfortable hovering right around these levels action made it to a high of 4251 on the 21st that's eight days ago and made it to a high of 4236 on the 23rd so that's talking about six days ago uh currently trading about 4135 with crewed numbers expected to come out about an hour and a half from right now on the air okay jumping over to the front page of tfnn this is the final week folks i started my newsletter report rocket equities and options i encourage you to check it out you can save 50% on the first month folks lock in the price save 50% use the pro promo code rocket if you don't like it enjoy the 30 days cancel it you can get a 30 day money back guarantee all the details right on the front page of tfnn and that's the last week because this is the last week of july i'm going to wrap up those monthly numbers we're going to wrap up monthly trading we're going to be in august trading come monday stay tuned folks we're very back in three minutes well but what else we have on tap Wednesday trading 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 so how did i go from 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downtrends in the averages in some of the hardest hit states deaths unfortunately lagging the spikes that we had in cases so you're seeing some of those spikes happening in those states jumping down to florida florida as i mentioned cases you like to see the decrease in cases but we're seeing record deaths 186 186 recorded yesterday as that number lagging we actually peaked out in cases for the average at about july 17th peaked out in cases for the raw number you're talking about that day when we had about 15 000 july 12th so we're dealing with we're about 17 days past that 15 000 day mark in july but jet jumping into the numbers so florida california texas all reported record high averages california 185 new deaths pushing the average up to 113 florida the 186 i just referenced we're now dealing with 130 on the average and texas reported 200 new again hopefully we get over that hump we have decreasing cases people wear masks social distancing and we bring down some of these stark numbers in some of the states going on right now okay jumping back to the markets as we get ready for this open stay tuned folks we got our man larry pezzavento back in the saddle he's coming up live next right now the s&p is trading at 32 21 checking back in on that gold contract inching a little bit higher 1974 right now putting that on a five minute chart you see a little bit of a pop even in the last since 825 this morning we were trading at 1967 gold now trading at 1974 checking in on silver quite the fall off yesterday in silver and we've just settled back at about 24 50 in the price of silver this morning notes and bonds as i mentioned pretty calm action the 10-year comfortable right at around 129 24 this morning and that 30 year currently trading at 181 18 up about four ticks on the session all right folks stay tuned we got our man larry pezzavento coming up live next it's fed day live programming all day i'll be back at 10 o'clock with tom fast market at 11 o'clock basal chap in the noon steve roads at one dave white at two fed announcement at two that should be an interesting afternoon and tom o bryan my dad rounds it out from three till four stay tuned folks larry pezzavento coming up live next we'll be right back