 The following is a presentation of TFNN, the morning market kickoff with your host Tommy O'Brien. Everybody, I'm Tommy O'Brien, coming to you live from TFNN, 8.30 AM Wednesday morning. One hour to go until the opening bell and right now we got a little bit of a mixed market. Quite the story overnight as you have the US telling China to close their consulate in Houston. We'll jump right over to that headline. Why not? State Department orders China to close consulate in Houston. China vows retaliation. You have Senator Marco Rubio out there this morning saying basically that consulate, one big spy operation, not too surprising really when you think about it, right? But nonetheless, tensions rising and that's where you see a little bit of a sell-off in the market. You trade it to a low of, in the S&P's $32.28, we're a solid almost 20 points above that price level though. Now only negative four points. You were higher overnight up to $32.65, quite the sell-off. Right back to where we were though, almost you NASDAQ futures trading higher, $10,868. Zooming in, you see the sell-off overnight to a low of about $10,780. We're almost 100 points above that price level, the Dow off 55 points, $26,670. Dollar index pulling back, we got some strength in commodities yet again, especially that gold and silver contract, gold up $13, $18.57 had hit $18.66. And how about silver above $23, $23.13, the size 23.35, notes and bonds, a little bit of higher price and lower yield. That's the trend and it continues. We're sitting on a 10-year yield right now of under 6.10%, 0.589%. The 10-year up 4 ticks, $139.20, you got the 30-year up 15 ticks, $180.24. With that in mind, we'll jump over to weekly mortgage demand, right? These rates helping for whether it's refinances obviously, but even new buyers in the mortgage to market, home buyer demand and an already strong refinance market pushed mortgage application volume up 4.1% last week, refinance applications volume up 5% and 122% higher than a year ago. That trend just continuing, the average contract interest rate for the 30-year, 3.2% from 3.19. Points including a regination increased to 0.35 from 0.33, strong numbers across the board, interest rates we're now dealing with a yield under 6.10%. Okay, so the story in terms of the consulate, it's a big story folks, tensions just continue to rise with the US and China. You see the market dive lower, the market shakes it off, trades back higher. The directive to close China's consulate general in Houston was made to protect American intellectual property and private information of its citizens. So this administration really clamping down on that, we'll see how that plays out. In terms of the volatility in this market, yesterday, decent day in terms of we're looking at the Dow, we're up 2.1%, as recent as July 24th, negative days. We haven't had a day on the negative side more than half a percent, going all the way back 13 days now until July 9th on that Dow. Second quarter earning season, we get some big numbers tonight, Microsoft and Tesla. If Tesla were to deliver a profit, they would meet the requirement to then gain entry into the S&P 500. All the speculation is basically that's gonna happen, I mean, Tesla, really interesting to see what happens, buy the rumor, sell the news, buy the lead up, it does a charge higher if they deliver that profitability or is that the sign that of course it deliver that profitability and that's why we just shaded from about 1,000 June 29th to almost 1,800 you're talking about on July 13th for Tesla. Yesterday we pulled back, zooming in on the overnight action, 1581 for Tesla. Going over to Microsoft shares, Microsoft with their numbers. Quite a day yesterday and a lot of those tech stocks, 214.75 to 208 Microsoft, actually positive right now from 208.75 to 210.21, gotta check in on Amazon shares, Amazon, now Bezos made $13 billion biggest one day wealth growth ever and that was when Monday you had Amazon closed Friday out at about 2950. The ended Monday trading at $3250, $250, he owns 55 million shares, you're talking about $13 billion, we're sitting at about $3152, the sell off yesterday, $150 from about $3250 to $3100 on the dot on Amazon. Jump around some of the social stocks, Facebook, 240, a little bit lower this morning, Twitter. Twitter out there with the story that they're clamping down on some Q, Kwonon, however you pronounce that, a bunch of accounts on Twitter, a constant battle for those social media sites trying to clamp down on the nonsense that continues and let's jump to what else we got going on. All right, stocks making moves, what we have happening here, yeah, well let's jump to this Pfizer story actually. So US agrees to pay Pfizer and Biontech $2 billion with a B for 100 million doses of coronavirus vaccine, they're gonna pay $1.95 billion of Pfizer produced and deliver 100 million doses of its vaccine candidate in the US if it proves safe and effective in humans. German firm Biontech and US based Pfizer jointly developing the vaccine would be made available to Americans at no cost, Health and Human Services said, well, that's good, that's a good one to hear. Pfizer shares, talk about an acceleration from about $3650 or above $3910 currently trading $3845 on Pfizer shares on that news, United Air, they're out with their numbers last night, so they lose $1.6 billion in the second quarter, expect further lower cash burn, United and its competitors, yeah, talk about cash problems, right? These airlines, United, there's the volatility, not too much. We closed at 3307, came up with the numbers, we're trading about 3290 this morning, American Airlines right now, 1141, Delta Airlines, 2631, some of those cruise lines, Carnival a little bit lower, 1507. From the stocks, Disney, right, look at this volatility on the open yesterday for Disney, right? We go from 118 to 120 and by the end of the day we're at 118.62, we're a little bit lower this morning at 118.05, jumping a ride-hailing Uber pulling back yesterday from 34.30 to 32.50, lift shares, 30.43, jumping around some of the cannabis stocks, gonna be growth, 1718, Kronos, 674, how about Aurora, 1170 so far this morning. Okay, other stocks making moves, Biogen, out with their numbers, the drug maker reported quarter-learners 1026 a share, the estimate was only 803, revenue came in above estimates as well, helped by about 100 million in accelerated sales due to the COVID-19 pandemic. They slightly cut their 2020 full-year revenue outlook, Biogen shares this morning, a little bit of volatility up to 293, we're back to under 285, we're right around 285 I should say on their numbers conference call beginning at 8 a.m., yes, 8 a.m. eastern time for them. All right, Best Buy said its overall sales are up about 15 cents, but since it began we'll start again, Best Buy said its overall sales are up about 15% since it began reopening its stores in mid-June, online sales have more than tripled during the current quarter through July 18th, Best Buy jumps higher on that news, we're up to about 94 from 90 for some context on where we've been on this stock, almost reclaiming everything and actually above it now, 94.39 pre-COVID, we were only at about 92 down to 48, it's the run some of these stocks we've had, longer term basis, it's going to be an all-time high for Best Buy this morning. Stay tuned folks, come back after the break, see what else we have on tap for Wednesday trading, we've got oil numbers at 10.30 as well, we'll take a look at that, we're right back. 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 are on the front page of TFNN.com. 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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. Welcome back, folks. We got the markets negative a bit from the last time I was on the air. Right now, Nasdaq futures actually dipping into the negative negative six points, 10,843. Checking out the Nasdaq right now. See that little bit of a sell-off even at about 820 this morning. We're trading at 10,879. We've sold off about 30 points from that price level, 10,850. Looking at S&P's negative by six, the Dow negative 64. As I mentioned, we got crude numbers. 10,30 a.m. this morning. Now, it's interesting. Quite the pop for crude yesterday, 4251. We're currently trading at 4,130. A little bit of a pullback. When you compare that to the gold contract, gold right up there near the highs that we had yesterday, we're back a bit, but 18,66 to 18,55. Silver, quite the story, right? Under 23 now, but right near the highs we had yesterday actually made it to 23,35. It'd be interesting to see where crude goes as we get the numbers at 10,30, putting it in some context. This line here correlating to March 6th, I believe. Yes, March 6th being Friday, March 9th being Monday that it opened dramatically lower. That's the weekend that the Saudis came out, slash the price that they were selling oil dramatically, never seen before. Market cascades from $46 on that Friday to a price of those $27 on Monday and from there, panic kind of hit the market with everything down to negative prices and 6. So yesterday's action, the reason I mentioned is because we're up to 4251, this low here, 4105. We're back almost right at that low. We have inventory numbers in less than two hours. We'll keep our eye on that and see where that trades. Tom and I will be on there for those numbers. All right, jumping back to what else we have going on the market. You got Snapchat earnings last night. And let me zoom it in. We're a bit lower. So here's your context on where we were COVID from pre-19, maybe even $20 within a hair, $789. We're now at $24.74. You're going to see some negative action here on their earnings. $21.30, we spiked to, we're back to $2306. You're talking about only $1.60 from where we were yesterday and snap net loss balloons from a year ago, revenue up 17%. Snap stock price, yeah, fell big as we saw. Net loss grew to $326 million up from $255 million last year. Daily active users, $238 million up nearly 4% from the $229 million the company reported in April for their last quarter. So $238 up from $229, not bad, not that great, really. What was the expectation? I wonder, $238.48 was the expectation. So pretty much pegged it. They beat by revenue, they lost right in line, average revenue per user, they beat. Pretty interesting, right? If you look at just these metrics, you'd think that they beat. Revenue is a beat, loss right in line, daily, global active users off by $480,000, but nonetheless, they trade lower. Snap reported daily active users up, we went over that. I'm not even sure why they paid such a penalty, but maybe just that type of growth, 4% growth at a time when you're burning cash, you're burning cash, $255 million last year, now you're burning $355 million and you only grew your base by about 4%, Snapchat lower on their numbers. All right, we got a lot more companies with earnings, we'll jump through them pretty quickly. Texas Instruments, they beat by $0.60 a share, quarterly earnings of $0.48, the revenue also above forecast, better than expected revenue for the quarter, demand for its wide array of chips, rebounds from the effects of the pandemic, Texas Instruments, TXN. I mean, just crazy action on some of these stocks. We spiked to $144, and that's last night, four o'clock. By the span of 4.30, the conference call began, we were already at $139 from $144, and within the span, these are five-minute bars. By 4.40, we're actually back to where we were, and that's where we're sitting, $137 for Texas Instruments. All right, the NASDAQ got with their numbers, a $0.54, beating the $1.45 share. Let's see where they're trading, NDAQ, is there simple? Yeah, pretty close. $131, we're up a bit to about the bid ask, $132 by $135. iRobot reported quarterly earnings of $1.06 a share, significantly higher than $0.29 a share, revenue also above estimates. Consumers staying at home due to the pandemic helped fuel stronger sales of the company's Rumba, automatic vacuum cleaner. The company also raised its revenue forecast. Winners and losers, folks in this market in a big way, iRBT, oh boy, look at this, right? $92, down to $79. You're gonna have some quick fingers if you're trading some of these stocks, folks. $92 to $79. We're trading right now at about $82, a bit lower on their numbers. Consumer, yeah, something's going on there. I wonder what else is in that story, but something. Intuitive surgical, more than double the forecast with quarterly earnings of $1.11 a share, the maker of surgical products also seeing much better than expected revenue profit. However, sharply lower compared to a year earlier, as surgical procedures slowed during the pandemic. So they're seeing much better than expected revenue, but profit was lower because procedures slowed? I don't know. I mean, how are you pulling in more revenue and less profit? Maybe it's less margin areas, ISRG, up to 700 on the dot. And just like that, with everything else, we're back to about 660. Some of these stocks, if you try the acceleration they got, and now we're actually under 660. You're seeing a print exactly 660 and we're trading at 658 for them. All right, Capital One. So this week, I mean, it's just jumping through some of the big players. A lot more earnings even out there than this. 25% of the S&P reporting their numbers this week alone. Capital One, bank reported quarterly earnings to $1.61 a share. Market was looking for $1.68. Revenue was well below Wall Street estimates. Capital One boosted its provision for credit losses to $4.25 billion from $1.34 billion in the year earlier period. It makes sense, folks. You did credit card debt, hopefully. That's the one area you don't want to put yourself in, folks, because it's such a high percentage. But people have bills and this is an exceptional time. And Capital One's saying at least $4 billion. So I'm not sure what their exposure is, but you see it go from $62.87 down to $59.50. The Carvert's Call began trading at $60.20 by $60.20 this morning. All right. And Macy's and Kohl's, both of them, downgraded to a sell from Neutral saying brands can no longer depend on malls or department stores to drive customer traffic. Man, it's going to be a long time until we are super comfortable just going to a mall with just thousands of people. Macy's from $6.80 to $6.50. Kohl's at KSS, is that them, I believe. Kohl's, yeah, you see the drop off from $22.40 to $21.40. I was in Kohl's last December and I remember thinking there were just phenomenal deals. The place was packed to the hilt. They had lines going around the door, excuse me, around the entire store. They actually had attendance where the line had to jump over the pathway that people walked in because it was so long. But the margins you're dealing with in a retailer that's in the discount retailer world, when you're competing with Target and Amazon and Walmart, JC Penney, Nordstrom Rack, I love. That's the discount side. There's just such a competitive space, very low margins. Kohl's really been struggling. They get it downgrade. I mean, look at the stock, right? It's all downward and you got quite a little rebound here. You really did up to 30 when the market was getting its early June run up to 29.34. But just be careful in these stocks because no matter how good it is, you better be able to deliver online, folks, because the world is going online in a big way and it's happening faster than we all realize. I mean, look at these stocks. Amazon, Walmart, right? Right up there near all-time highs. We're going to open this morning on Walmart, basically flat, $132.30, $134.13 all-time highs. I'm Dan Bezos, Amazon $31.38. It's got a $3,800 price target. I see no reason why that's not happening, folks. All right, stay tuned. We'll be right back in three minutes. What else we have on tap for Wednesday trading? Stay tuned. I'll be right back, folks. 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 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 of tools and help you improve your market timing. 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They've been called miracle molecules because like sunlight, air, and water, life cannot exist without them. That's right, Paige. 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 Niko and Paige of living in primal lifestyle. Buy it today for just $89. Click on the primal edge banner on the front page of TFNN.com. Don't forget, you can listen to TFNN live on your mobile device 24 hours per day. Go to TFNN.com and hit Watch Tiger TV. That's TFNN.com. Then hit Watch Tiger TV for the latest market information. Welcome back, folks. S&P is negative by just four points right now. NASDAQ, positive by seven. The Dow, negative by 44. Going to be a real interesting open in the market. Stay tuned. We got our man Larry Pezzavento coming up live next. Always an interesting program, folks. Bring it on guests. Check it out. He'll be live as we know. And what else we have coming up? Stay tuned. Tomorrow, our man Basil Chapman. He is going to be live with his subscribers for a 90-minute webinar. The title of this. So Basil has put this together. He wants to do it right now. He's talking about the market, folks. After a successful first half of the year, will the same chart formations unfold for the second half of 2020, or do we have to find other patterns to follow? Great time to give Basil a shot. Give him a subscription. Sign up. Check it out. You get a 30-day money back guarantee. And I'll be in there tomorrow night as well. Watching that webinar. I look forward to Basil always does a great job. 90 minutes. That will be archived. What he'll be talking about. How we have used time-price relationships. The cup and V-shaped pattern worked on the way up. Will we have to look at the inverse patterns soon? Will the high tech sector take a breather, allowing other sectors to rally? What a question, right? The golden question, I'm sure. What clues would suggest an infrastructure play is possible in attempting a longer-term outlook? So that's going to be tomorrow night. 90 minutes. Check it out on the front page at tfn.com. And also my newsletter, Rocket Equities and Options Report. I'll have an update out later this morning for subscribers. A full report out Monday updates pretty much every day for the first couple, at least a month, few weeks, a couple months as we build a real long-term portfolio. Focus on some value equities. Good time to buy them now as we cycle through that. And then maybe some option plays. Maybe even in the next this week, next week, looking at some option plays, some swing trades, at least for the short-term. Both of those, check it out on the front page. And right now, you can become a charter member. Hit subscribe. You'll see the monthly $97. You can just enter promo code, Rocket, ROCKET. Hit add that code. It'll be cut in half. You pay 48.50. You lock in the rate. 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