 The following is a presentation of TFNN. The morning market kickoff with your host, Tommy O'Brien. Friday morning everybody. I'm Tommy O'Brien, coming alive from TFNN 8.30 AM Friday morning, 60 minutes to go until that opening bell. We got markets in negative territory right now. Yesterday, quite a day quality, a volatile session, quite a strong finish to the markets. This morning. We're touching 3,080 on a couple occasions, even a few occasions last night on the S&Ps. We've backed off a bit currently trading at 3,067. You back it up to the volatility on yesterday. I mean, check out the day. The lows early, early yesterday, three in the morning Thursday, okay, we're at 3,005. You finish the day almost 75 points above that the price level folks. We end the four o'clock bar right with a high. We don't end it, but we reach a high of 3,079.50, just shy of 75 points. You even back it up for where we were at 945, 3,011. You're talking about 75 S&P points and look at this trading range. You're talking about 1% from where we were at about midnight, 3,080. You trade down to 3,050 at about 4 AM. We're back to 3,080 right at 7 in the morning, currently trading 3,068 on those S&Ps. And Q's barely positive, 10,094. We hit all-time highs on Tuesday, 10,296. We were as low as about 9,900 early in the day yesterday. The Dow, 25,495 yesterday, within a few points of that 25,000 mark. Finish the day about 600 points higher in the Dow for Thursday trading. You see the overnight session, a little bit of volatility, about a 200-point trading range overnight from 25,4 to 25,6. Low contract, negative 35 cents at 38,37. Crude, talk about some volatility, Wednesday, we get the EIA inventory numbers on Crude. We spiked down to below 37,50. Yesterday, we reached a low of 3,708. You trade up more than $2 to a price level of 39,35 as of 5 AM this morning. And just like that, we've given up about a dollar from that price level with Crude trading at 38,39. We got gold contract basically flat at 17,70, was as high as 17,96 earlier in the week. Silver up about 6 pennies at 18,11. And notes and bonds, we get a little higher price and lower yield, the 10-year up 3 ticks at 139, the 30-year up 8 ticks at 178,15. You're looking at a 10-year yield right now of 0.66%. As far as Europe goes, positive action over in Europe, the DAX up about 0.7% for Friday trading, the FTSE 1.4, Cat Caroll up about 1.4 as well. And as we come into 8.30, gotta love doing the program at 8.30 every morning, we get a plethora of financial data. Yesterday, it was weekly jobless claims. This morning, personal income, PCI, falling, falling, 4.2% in May. They were looking for a 6.0% drop, not bad, right? Income only falling just about 4%, market was looking for 6%. It is so tough to gauge all of these estimates about what's going on. There's no roadmap, folks. They don't teach you in grad school to become a financial analyst how to calculate personal income when a pandemic is ripping across the globe. Nonetheless, market right now pretty muted S&P, as we mentioned now about two points technically, 3068. Friday trading, talk about a volatile session yesterday. Let's just back it up again. We'll put it on a five minute. Finish your action yesterday, and really the run begins at about 2.30. You were trading at 3,034. You finished the day about 45 points higher. So the last hour and a half of the day, you see the acceleration. These are five minute bars. And man, in the span of about 10 minutes, you jumped to almost 20 points in the S&P. Finished the day in this range between about 3,060 and 3,080. We'll see how the day shakes out on that. Jumping around to some of the other news stories out there, and there is a lot going on, folks. This is the first one that comes up. Just talking about things that are going to happen, folks. I live in Florida, TFNM based in Florida. We have quite an acceleration of COVID going on. You're going to start to see businesses making the decision to delay opening, closing, whatever it is, Texas, pushing back some of their phases of opening in terms of elective surgeries not happening anymore. In Texas, as they try and make sure they have enough beds to take care of the number of people spiking that are getting sick, Warner Brothers, they're going to be pushing back their movie release. You saw AMC coming out with their plan to open their movie theaters. A big portion of that was talking about, I believe, Mulan coming from Disney was supposed to be a big movie. This one as well, Tenet, supposed to be a big movie pushing those back as the industry just waits for any sense of normalcy. Earning season. We talked to our man, Kevin. Hinks yesterday. He liked to say Nike wraps it up. Nike reported their earnings last night quite a miss. Quite a miss for sure. We'll pull up their chart first. Now, this one's interesting, folks. I'm a long-term pull on Nike, right? You want to, in this type of environment, if you're a long-term investor, now we're traders too, but there's a lot of value in tremendous companies who are able to transition to doing business online, digitally, electronically. Nike had been ahead of the curve for this, okay? They're down to 60. We're up to 101. They missed big time. They missed by like a billion dollars in revenue for 90 days. We trade from 101 to 97 this morning, okay? But just for some context of where we are in the world of Nike, here is where you're going to open on Nike, right? Whoops. I mean, we're talking about right up near pre-COVID levels, right up where we were. Gather some volatility, okay? There's your dive lower on their numbers. Let's get into the numbers before we finish the conversation. Let's tumble 38%. Digital sales soared 75%, representing about 30% of total revenue as shoppers flocked to Nike's website for sneakers and workout gear. That's quite a number, folks, because I, now, percentages on small numbers are very, very misleading at times, okay? But Nike, they had already been pushing for the online expansion of what they do. Expenses for shipping, returns also put more pressure on the company's profits. These margins during the fiscal fourth quarter shrank to 37.3% from 45.5%, revenue, $6.31 billion, and they were looking for over $7 billion, folks, was the estimate. Isn't it in here somewhere? They were looking for over $7 billion. And a year ago, $10.18 billion, okay? A loss of $0.51 a share during the period compared with the net income of $989, almost $1 billion. Net income a year ago, $0.62 a share, total revenue down 38%. Sales in North America down 46%. Sales in China down just 3%. Many Nike stores in the region reopening, reopening sooner during the pandemic than in the US. They shut them down in China. They opened them back up US, not quite able to crush that curve, and they're gonna stay close for a while, some of them. Sales at the Converse brand dropped 38%. So the Nike brand footwear sales fell 35% apparel down 42%. I mean, just all across the board except for digital sales, so at 75%, maybe that's what's keeping Nike anywhere near where it's been recently, expenses are higher as well. Yeah, and there it is, analysts were calling for the company to report earnings of $0.07 a share. Remember, they lost like $0.50 a share on revenue of $0.7.3. However, the impact of the coronavirus pandemic makes it difficult to compare the company's results to estimates nonetheless. I saw a headline out here this morning, it was just a good conversation to think about folks on Nike. If Nike, a company that was pretty well positioned compared to the pack, you could say, okay, if Nike can miss from $7.3 billion to $6.3 billion, you better watch out for some of these companies that might not be as well positioned for Nike because yeah, they missed, but the market's still gonna open them up at basically the highest range they've ever traded at, which is like right around $100, give or take a couple bucks. So we'll see. These retail stocks, Nike trading lower this morning, S&P's negative by five, stay tuned folks. We've got a lot of stocks with action on Friday. We'll be right back to go over them. 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. 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NASDAQ and Q is negative by 6. The Dow negative 147. Jumping around to some of the other equities with stories this morning. Let me pull it up. There we go. And I want to get the stocks making moves. So Nike we covered. You had the banks last night, so banks getting a lot of action. First it comes out that they're going to have regulations relax some of the banks, right? In terms of the Volcker Rule yesterday, you saw some of those banks accelerate higher that they might not have to keep as much of their reserves on hand or trading derivatives. A number of things involved with maybe relaxing the Volcker Rule. And then it comes out after the market that the stress tests revealed that some of those banks are pretty close to maybe being insolvent and not having the capital requirements that they're supposed to if things really get dicey with COVID and folks. I don't think things are going to get really dicey with COVID in terms of the market. They are getting very dicey in terms of what is happening in the country right now. We'll pull up some of those numbers in a moment. If you don't think there is at least a possibility and probability that is greater than zero, the banks have problems because of the economy is suffering. You better wake up to even call it a tail risk, okay? That tail risk exists in a big way as the US has 40,000 cases a day spiking. You have Houston filling up with ICU beds. And you have Texas, the Republican governor of Texas shutting down some of the phases of expansion. Let's just get into the numbers and be nationwide. Look at this curve, folks. This is nationwide, okay? That is a steepening curve to the upside. We're looking at the New York Times. There's a plethora of data out there, whatever source you're looking at. New York Times looks at the last 14 days. They're now putting 30 states, 30 states in the category of rising numbers in the last 14 days, folks. Some of the biggest ones, I mean, Florida, Texas, Georgia, Arizona, California dealing with some woes. I mean, you can't stop, folks. Utah, look at this, Arkansas, Nevada, the casinos open. Oklahoma, that is quite a spike over there. Montana, all right? This is going to come to roost when you have, you know, I mean, we just talked about it, right? Movie theaters pushing back their releases, okay? You have Texas shutting down some of what's going on. You have, I mean, our office, TFNM based in St. Petersburg, Florida, restaurants shutting down for staff. Testing positive all the time. This is going to play into the market, folks. It's just a matter of time. So wake up, be aware, all right? Quite a hotbed. I mean, the entire state of Florida is almost looking like a hotbed right now, being in Florida. Some of the states that really crushed it, New York, Connecticut, New Jersey, Massachusetts, right? Where it was hit hardest, where they really had to rain things in. And they did, and their curve is much different than what we're dealing with in the likes of the states of Florida. For Florida, we had our second day over 5,000 cases yesterday. Quite the curve there as well. We'll see how this shakes out, folks. But it's a big number, and it's going to start hitting the market, and there's only so much that the Fed can't do. Okay, Amazon, how about it? Amazon, they got a couple things going on. So number one, they paid about a billion dollars to buy self-driving start-up zooks, according to online publication The Information Signing Sources. Separately, Amazon's buying the naming rights to Seattle's NHL arena, planning to call it, quote, unquote, Climate Pledge Arena. It's a great piece of marketing, and it's a great piece of climate awareness, folks, in recognition of its status as the first fully carbon neutral arena. Amazon's also the subject of positive analyst reports at Deutsche Bank, which is raising earnings estimates and upping its price target. That seems like a price to sell. $33.33 a share. And SunTrust, they upped them by a bit by $67 to $3,400. I mean, the way Amazon moves, it could reach that by the end of this month. Next month, we're trading higher this morning on Amazon, $27.82, $27.96. The high from Wednesday cannot hold Amazon down. Let's jump around to some of the other tech stocks as we look for the open as well. Microsoft, just a hair under $200 at $1.99.95 right now. Apple shares, $364.58. I mean, all these tech stocks right up there, near all-time highs. Facebook, quite an anomaly I'm going to cover. You got Verizon out there pulling ads from Facebook. I talked about yesterday, one of the biggest ad agencies pulling their ads. One of their customers, BMW, among with many other huge companies. And how that plays out in terms of the blowback for a company like Facebook. And where are we? Come on. There we go. Verizon pulling advertising from Facebook and Instagram. Okay, regulators, you could argue some do. Not doing their job in terms of what Facebook is able to put out there. Lies, political ads, what it is. Some companies now feeling the public scrutiny, the public pressure to say, you know what, we're not going to advertise with these two companies. Now guess what, folks? We'll see how long this lasts because there's nothing like what this world has seen. In terms of Facebook for targeting the amount of targeting and direct advertising to consumers that it allows. I mean, they got billions of users. We'll see if companies can manage the landscape if they choose not to advertise on that company. But this is not what Facebook or Facebook shareholders want to see, folks. When you see the beginning of your advertisers saying, you know what? Regulators might not be clamping down on you. But we're not going to be voting with our dollars, right? We're not going to be giving you our dollars for what you're doing. Verizon said on Thursday it's pulling advertising. Facebook dealing with some woes there. They've already started in terms of a number of companies. We'll see how that hits. You see the hit on Facebook this week trading from 245 down to almost 230 yesterday on that company. Okay, other stocks in actions. So DraftKings, they're rated a buy in new coverage. The firm sees a number of catalysts, including the return of live sports, and a potential acceleration of gambling legislation due to COVID-19. Hey, one of the things out there, folks, I'm super biased, but there is no reason why in the state of Florida I am not allowed to play online poker. All right, you want to say sports gambling? There is a tremendous amount of skill in the game of poker, folks. Short term, a lot of luck. Long term, all skill, okay? There's no reason I shouldn't be able to play a game of skill online at a time when the hard rock is open. I can go down to the hard rock and lose my entire savings of a million dollars if I wanted to if I had it, okay? Yet I don't have the ability to online gamble at a time like this, all right? So you got DraftKings, sports gambling and completion. Hopefully they do get something like this done, all right? I used to play a lot of poker in my younger days. I have a lot of friends that I know of who are, whether it's a professional gambler, professional poker player, whether it's in Las Vegas, Florida, New Jersey. And at a time when casinos just shut down, folks, there were a lot of people hit real hard, you know? I mean, you look at it, I mean, casinos just shut down overnight. If you were somebody that was playing poker for a living, there's a lot of people out there that do that, folks. It's not far off from being a professional trader just so you're aware, okay? You're looking at probabilities, you're looking at statistics, you're making risk-reward analysis, all right? And those people just shut down instantly. There's no reason why this shouldn't be an opportunity to say, hey, you know what? Why do people in Florida have the ability to bet on horse racing whenever they want, which is because of lobbyists and you can't play poker? So if you ever get the opportunity, stress that to your politicians. There's my speech came. Didn't even plan it, folks, but it's craziness that I can log on with my credit card, dump my entire savings of credit onto an online horse racing website. And yet when it comes to playing online poker, can't do it. I got to go down to the hard rock and play during a time that COVID spiking tremendously. So, okay, big lots. Talk about an acceleration here. The discount retailer said it's seeing a continuation of strong demand that began in mid-April. It now expects second quarter comp sales to be up and check out this one, folks. Look at that pop from 34 to almost 40 on big lots. Stay tuned, folks. Come back. 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Go to TFNN.com and hit Watch Tiger TV. That's TFNN.com and hit Watch Tiger TV for the latest market information. Welcome back, folks. We've got the S&P's negative by about nine, Nasdaq negative by nine as well. Dow Jones negative by 166 in the season, seven in the morning. We've given up about 20 S&P points right now. Call it 19 points. Quite the trading range, folks. It's not often you get 1% left and right in this market, if not 2% or 3% almost yesterday. The VIX right now, 32, 39. Wednesday hitting that spike on 37, 12. Some of the other news stories catching my eye this morning. Mortgage bailouts suddenly swell as homeowners face new struggles. Folks, keep your eye on this story. It is a big one and it is gonna play out, okay? You have the number of active mortgage forbearance plans rising by 79,000 in the past week. So just in the last week, you have numbers increasing for the amount of people that cannot pay their mortgage, okay? At a time when you have 1.5 million initial weekly jobless claims, folks, this is not the V turnaround. When you have, right now, as of Tuesday, 4.68 million homeowners in forbearance, okay? Allowing them to delay their mortgage payments for at least three months and up to a year represents 8.8% of all active mortgages up from 8.7%. Folks, this number is not supposed to keep climbing as we go into July and August because you only have a year in this program and you have to pay that back. I mean, to get into it, right? It talks about the mortgage bailout program. Allows borrowers to miss monthly payments for at least three months, potentially up to a year. Those payments can be remitted either in repayment plans, loan modifications, or when the home is sold or the mortgage refinance. This is all gonna come to roost in the next 12 months and time is flying and that number is still going up, okay? So that may play into things. Keep your eye on it because that is not rebounding at all. It's actually getting worse, folks. It's actually getting worse and we're about to come into July. Talk about getting worse. Wirecard, auditors, yeah. This is some PR spin, folks, okay? You got the Ernst & Young saying, oh man, we're auditors, but there was such an elaborate fraud that led to missing billions. Yeah, well, good luck on that one, folks. What is the point of an auditor when they can't find out that you just say you got billions and they don't even research it? We'll see how that plays out sad story in terms of the amount of missing money and how that plays out. All right, folks, stay tuned. Should be an interesting Friday in the markets. S&P's negative by 10. We got our man Larry Pezzavento coming up next with trade what you see live pro...