 The following is a presentation of TFNN. The Morning Market Kickoff with your host, Tommy O'Brien. Good Thursday morning everybody. I'm Tommy O'Brien, coming to you live from TFNN. Thanks so much for kicking your trading day off right here with me at TFNN and we got markets catching a little bit of a bid this morning. We make a run, we're up by 33 points. We're at a nice round number 5,300 in the S&Ps. That's a rise of just more than 6 tenths percent in the S&Ps. You get the NASDAQ 100. We're up by 161 points right now, 18,534. We basically have everything back from that acceleration lower on Thursday, excuse me, Tuesday. Dow, up more than 200 points this morning, 39,690. You're up by more than half a percent in the Russell, up by eight tenths percent, 2113 right now. You're talking about a 10 year yield. We jumped to yields about 4.33. When I was coming on the program yesterday, we're sitting at about 4.4. So we have a little bit of lower yield. We'll jump into that. We have jobless games this morning, ticking up a bit. Bitcoin, up by $1,000, $67,360. You got crude hovering just above $85. We were above 86 yesterday. But yeah, sitting at basically higher prices continually with $85.29, the price of crude this morning. Gold catches a bit overnight. We give up some of that action. Gold, negative $8 on the session right now, but it is interesting. It seems like every time I wake up in the morning, I check the markets and you see that gold has accelerated yet again to another overnight high. We make it to 23.24. We give up some of that action. We're still sitting above 2300 at 23.06. Silver sitting above $27 at 27.02 this morning. You jump over to notes and bonds as I mentioned. What do we got? We have higher price and lower yield. There's your action yesterday when we were sitting at about a yield of 4.4 percent. We're right back to where we were last night at about six o'clock. We're at acceleration on the heels of the jobless claims number. We got at 8.30 this morning. So what's going on? We have higher jobless claims. What's that indicating? That's indicating a little bit of weakness potentially in the job market. What could that mean? That could mean maybe the Fed needs to cut. Now, I think we're jumping ahead of ourselves. Man, the jobless claim number, particularly volatile, and let's just jump over to the number. Initial jobless claims take up to the highest since January is one way to phrase it. That's how Bloomberg puts the headline this morning. You're talking about $221,000 in the week-ended March 30th. The forecast was looking for about $214,000. Continuing claims decreasing. I would keep your eye on continuing claims, folks, okay? Because initial claims are eventually going to trickle into continuous claims if you don't get a job. Continuous claims going to be a less volatile number. Now, continuous claims are one week more delayed than initial claims, right? We get initial claims pretty recent as of the week-ended last Friday, March 30th. Continuous claims, we get the number that is ending as of March 23rd. Nonetheless, there it is on your chart. You do get a little bit of an uptick, okay? As they put it, the highest number since January we're only in April 4th, all right? All things considered, it's a very low number. Continuous claims actually ticking down. Nothing on this chart of continuing claims is pointing to a dramatically weakening economy to the point where the Fed needs to swoop in and save everybody with lower interest rates. So that's my perspective, keep it on your radar. Somewhat they talked about, right? Although the labor market has remained resilient, layoffs are on the rise, that should contribute to continuing claims though. Keep that in mind, man. They reached a year high in February in government figures released this week and job con announcements by corporations are also at the highest in a year. In data from Challenger, graying Christmas, which may result in rising joblessness in weeks to come. So we get that number this morning. Nonetheless, we'll see where we go from there. Now you get the government payroll numbers due out tomorrow morning. The market's looking for about 213,000 is the number they will be looking for for non-farm payrolls in March. Keep your eye on some of the wage data that will be coming down the line. We talked about ADP private payrolls yesterday, right? Those wages saw a 10% increase in people changing jobs. That is quite an uptick. They saw a 5.1% increase and if you're staying in the same job and it's pretty remarkable when you do those numbers on a yearly basis because think about the comps, right? Now we're dealing with comps that are pretty lofty. Remember when we have numbers going back to ADP for a moment because you gotta stay on it, man. These are numbers that the Fed has to have in focus. If you're really looking for a dramatic level of cuts, then what are you looking for? You had Raphael Bostic out yesterday, right? Fed Atlanta Fed chair saying maybe we, not maybe, one cut in the fourth quarter is what he's looking for. That seems pretty reasonable, okay? Much more reasonable than six or seven cuts when the market was at one point. Probably even more reasonable than three cuts where we are right now. You have wages rising at 10% for people that change jobs and 5% if you're staying in the same job. How does inflation go back down to 2% when people are making 5% to 10% more on a yearly basis depending on whether they're changing or staying in the same jobs? We have unemployment somewhere around 4% at best right now. That's a great number, man. We jump over to the dollar index this morning. DXY, little bit of weakness. Back to 104 from 105 right now. It is interesting in terms of the volatility where gold is. Gold is not trading in step with the dollar index when usually it would, right? But gold got ahead of the dollar, you could say. Now it's kind of factoring some of the pullback. Still on a daily basis, you're at 104. You were as recently as what? March 8th, less than a month ago, at 102.50 right now. We have yields sitting at about 4.33% on the 10 year, 4.4 as I speak right now. And yeah, we'll see where we go from there to put it lightly. All right, S&Ps catching a bid. We're up by 38 points right now, sitting at 5304. I mean, check out this chart, man. No pullback on this chart whatsoever in the S&Ps, sitting at lofty levels, almost near the highs of 53.33. We were at just a few days ago. Pretty remarkable. All right, and where are we gonna kick things off? Let's see. Yeah, let's kick it off with rates, man. This one from Bloomberg, the long shadow of Fed to fall on the ECB after Lagarde's first cut. So this one's talking about the ECB insists it won't take any cues from the Fed as it prepares to start cutting interest rates, but subsequent policy path may well be shaped or what happens in the U.S. all the same. They're all related, folks. All right, we had a great discussion with our man, Teddy Cakes, that yesterday. One of the things I always say, even if you're not trading forex right now, you should check out his newsletter. Outstanding newsletter comes with a 30-day money-back guarantee because interest rates, commodities, currencies, they're all related, and of course they're driving markets right now dramatically, trends driving the world's largest economy usually don't take long to spill into other regions, right? So yeah, policymakers elsewhere can't really escape the Fed's gravitational pull when assessing their fate of the own economies, okay? The ECB is seeing cutting rates faster than the Fed, and when you look at it, this is the Fed up top, this is the ECB down bottom, okay? Investors are betting on marginally more monetary easing in Europe, okay? But you gotta be careful because they're all gonna be related and how are they gonna react if there's a differential in terms of where the Fed ends up where the ECB wants to be. In black here, you have the market implied rate cuts in three months, okay? The Fed in terms of our Federal Reserve, the market implied rate cuts in three months are 16 basis points. The ECB has 26, okay? You go out six months, the Fed, the market implied rate cuts is 37. That's interesting, because that's only a cut in a half in six months. That brings us to about October, right? The ECB has 58, you go out a full year, the market's pricing in 88 basis points of cuts for the Fed, you're talking about 113 in the ECB, and you go out two years and you see the different. So it's gonna be interesting, man, in terms of how they each progress, and it's gonna be front and center in this market, man. And there's not much more important stuff right now going on. I mean, yeah, we have AI, we have jobs, that's what matters. We have the economy that is growing dramatically. But this one is front and center, and we're seeing a play out. You're seeing a reaction to the jobless claims this morning, and yeah, we'll come back and talk to our man Kevin Hicks about some of the actions, thank you folks. If you're looking for potential trading setups in the stock market, then Rocket Equities and Options Report is a newsletter you should try. Tommy O'Brien delivers options and equity trades when the markets present them, using a combination of fundamentals and technicals. Sign up for Rocket Equities and Options Report today with a 30 day money back guarantee so you have nothing to risk. 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For all the details, visit TFNN.com. You'll find Fibonacci 24-7 right under the newsletters tab. TFNN has launched the Tiger's Den. Hosted at Discord, TFNN has been educating traders for more than 20 years with live programming hosted by a variety of professional traders during market hours, the Tiger's Den, available to all tigers and tigeresses for just $1 for the year. There's no catch or added costs when you join our community of traders. Sign up today and become a part of this educational community of traders. Just visit the front page of TFNN.com. Steve Rhodes started his trading career as a student almost 20 years ago and the student has now become the master. Steve won the prestigious Timer of the Year award in 2018 and barely missed that mark again in 2019, finishing at number two for the year, an amazing accomplishment. 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When you compare the US economies, you compare the European economies, I think we all understand that the US doing extremely well, regardless of what you hear in politics right now, okay, inflation, front and center justifiably so, but that's where things are gonna deviate here, okay? If you have the US economy extremely hot and you have the European economy lagging for laggard, then what's gonna happen? There's gonna be pressure for the ECB to cut at a time when we are still dealing with inflation that is persisting, an economy that is hot enough that we don't need to cut in the same way. And there's a couple quotes that I had in here in terms of, well, yeah, Chairman Powell, yesterday, of course, saying on inflation, it is too soon to say whether the recent readings represent more than just a bump. This was Wednesday, okay? At a speech at Stanford in California, we do not expect that it will be appropriate to lower our policy rate until we have greater confidence that inflation is moving sustainably down toward 2%. We've heard that one before, man. Now, Bloomberg economics predicts price increases will slow to below 2% as early as August and average just 1.4% in 2025. This is talking about the ECB, I believe. The ECB's own forecast is for a rate of 2% next year. Now, where's the, yeah, having been wrong before on the breadth of cost pressure, the governing council will proceed cautiously as the easing cycle gets underway, but it's still reasonable to expect deep cuts to interest rates this year. That's one take, okay? The ECB has proved in the past, and this is an important one, as you take the two central banks and how they're gonna act here, are they gonna go in tandem or not? Not necessarily, and how is that gonna impact our currencies, our yields, and our market? Okay, the ECB has proved in the past that it can diverge from the Fed. When it was cutting rates in December 2015 and again in March 2016 in the US central bank, the US central bank was embarking on a three-year period of hikes at that time, all right? The Swiss national bank has already shown the way in the current cycle with an unexpected lowering borrowing cost in March, intended to prevent gains in the Frank. Currencies, right? Currencies, so important with how this is factoring in. Now, you have Swedebank's chief economist. The ECB should probably stop looking over the shoulder at the Fed and the US, where our star, we've learned a lot, have you learned a lot about our star, folks? If you haven't, keep it in your mind, man. It's the kind of the natural growth rate of the economy. The Fed wants their interest rate in the long-term to end up where our star is. And just think about it as the natural growth rate. So if the interest rate that the Fed is setting correlates well to the natural growth of the economy, what's gonna happen? It's not gonna grow too hot, causing inflation. It's not gonna grow too slow, causing a recession or even worse, depression. Where our star is higher in the US and the economy is much hotter. Unlike in the US, in the Euro area, the probability of a hawkish mistake cutting too late rather than too soon is becoming higher by the day. That's where we're very privileged with the hot economy we have, okay? There is gonna be pressure in Europe because of the weakness in their economy. Again, aside from what you hear in politics, keep your brain on the front and center of the data. I have to reiterate it. It's political season. You're gonna hear that the market's gonna go to hell. You heard it four years ago. Our economy is just on fire, folks. Even the number that we got this morning, right? What was it, 221,000? That's almost just a healthy churn in the economy, which is why I brought the focus back to the continuing claims number, okay? There is just a healthy churn in the economy when it comes to initial jobless games. People changing jobs, people reorganizing, businesses reorganizing, letting people go, et cetera, okay? This gentleman is among the participants in Bloomberg survey on ECB policy in which only a quarter of respondents say they're convinced that the Fed decision won't impact the ECB's rate path at all. So the ECB, they're paying attention to what the US is doing, but that might not be the best thing. That compares with 36% saying central bank policy in the US should not affect that in Frankfurt and yeah, we'll see how it plays out, man. But boy, it's gonna be front and center and it seems like things keep getting pushed back. I mean, imagine if Bostic had come out in the beginning of the year and said, maybe we'll cut once by the end of the year. Well, what happened, right? It is just remarkable how things changed so quickly to put it lightly. All right, where do we jump from here? All right, let's talk a little bit of Tesla, man. Why not? Now, this one's an interesting one from Bloomberg. All right, this is their big take. That was out when yesterday at five o'clock. I was checking out last night. How Hertz's big bet on Tesla's went horribly sideways. I was telling a friend about this recently that's not in the market. A pair of finance veterans bought the bankrupt car rental company and went all in on electric. Too bad they got almost everything wrong. I mean, the headline almost speaks for itself. I think we got a lot of astute investors out there that are in the market, well aware of what's going on. The reason why I bring this up particularly today, it's interesting, we're gonna jump around in the world of EV. Ford out there delaying the all electric SUV to focus on offering hybrid vehicles across its lineup by 2030, probably a wise decision for Ford. The demand, right? It is a demand problem right now. Now, what Elon did is he was focusing on the supply problem, right? There was no supply of EVs. The automakers weren't coming to market with EVs. They were delaying it. They had no incentive to do so. He brought them front and center. The fanboys united behind Tesla. You drove that stock to stratospheric levels. But what's happened? What's happened is anybody who probably wanted an all electric EV, they probably got one, man. And now you're in a market where, you know, there's a lot of people who are open to the idea, but I talked to our man, Kevin Hinks, yesterday and made the great point. It's the infrastructure right now. And I don't know how anybody sat in that Hertz room and figured that people who wanted to rent a car wanted to be stuck in an electric vehicle driving across the country in areas that they're not familiar with, not at home where you have charging stations on your own, because that's one of the biggest fears of the EVs. Many times, folks, you know, if you have an EV at home, you have a charging station in your garage. Yeah, you're probably okay, right? Many times you probably won't drive enough where you'll make it home. You'll be able to charge that vehicle. But the fact that they went all in on rentals and remember what the market did at this time. Remember that Tesla went through the roof, right? Hertz went through the roof. For the first time in a long time, man, Hertz was going bankrupt. People were in there buying the shares of a bankrupt company and they actually made a tremendous amount of money doing so because by the time that bankruptcy worked its way through the courts, the assets and future promise of that company was actually worth more than it was as it was sitting in bankruptcy, which says a lot. Yeah, so back to, we're looking at here. We'll finish this conversation up. We'll talk about it, folks, but you know, sometimes the market just gets it magnificently wrong and this is one of those cases, man. And Hertz, they pay the price, of course. We jump over to Hertz. Today you're at $7.31 off of 19 bucks in July. Stay tuned, folks. We're coming back from the market open. We got lots to talk about. Are you ready to take charge of your financial future? TFNN is your gateway to the world of trading and investing. Whether you're starting out or scaling up, TFNN empowers traders and investors of all skill levels with top-notch investing systems, strategies, and techniques. It's time to protect and grow your money with insight you can trust. Join us live Monday through Friday during market hours for exclusive content that moves with the markets. At TFNN, we bring the trading floor to you. Our seasoned hosts are here to answer your calls and questions live on the air. Check out the Tiger's Den for just $1 and follow us on YouTube and become part of our vibrant community. And remember, at TFNN, we're so confident in the value we provide that we offer a 30-day money-back guarantee on all new premium newsletter subscriptions and services. You have absolutely nothing to risk. So why wait? Tune in live to Tiger TV and transform your trading journey because when you know better, you invest better. Join us and experience the difference today. TFNN, Educating Investors. If you spend any time online researching trading techniques on how to begin your trading journey, you've no doubt come across many folks who push forex trading as a way to make big money quickly. Unfortunately, there are equally as many stories of these so-called forex professionals just looking to make a quick buck off aspiring traders without actually teaching the ins and outs of the forex market. This is what sets Teddy Keck stacks, the Tiger Forex report, off the riff-raff. Every Monday, former Chicago mercantile exchange member and author, Teddy Keckstat, releases his Tiger Forex report newsletter where he dives into the complex world of forex and takes time to actually teach you his methods that have made him so successful in the fast-paced and rewarding world of forex trading. Furthermore, all subscribers receive access to archived live streams of Teddy's where he provides university-level education to help you in forex trading. 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Tom also analyzes specific equities that he believes has the potential to make huge returns and his track record proves his analysis right. All first-time subscribers receive a 30-day money-back guarantee. So what are you waiting for? Don't let the market leave you in the dust. 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 and hit Watch Tiger TV. Folks, we're gonna have some peas. You're up by 38 points to kick off the trading session right now at 5304. You're talking about a run, man. We're solid 70 points off of the lows we had Tuesday morning and you're approaching all-time highs, man. I mean, check it out. We're really just off the highs. That high was made, remember, Sunday night. Okay, when you're talking about intraday, we're really dealing with high above 53.16 somewhere there. I mean, on last Thursday, you were approaching a price level prior to the close at about 53.17, just 15 points away from basically all-time highs in this market outside of that Sunday night run you had at 53.33. Yeah, and remember that run was on the heels of the market being closed on Friday where we got the Fed's preferred inflation gauge, the PCE. So market's on fire this morning, to say the least. Bitcoin, approaching 68,000, catching a bid yet again. You got crude on the rise, 85.46 this morning. You jump over to that gold contract, folks. Gold, where are we? There we are. 23.08 in the price of gold. Folks, don't forget about that gold report special. It runs this week only. You can save 35% off the monthly price. You'll lock that in for as long as you're a subscriber. Great time to be in gold, man. And you are not too late if this run is real, man. There's your weekly, okay? Quite a run from the lows of October at 60 and 18. But context is important, okay? And contextually, you're talking about a consolidation at the 2000 level for a period of almost three years. Yeah, even more than three years, right? August of 2020, you get up to a high of 2089. That eclipsed the high we had of 1923 in 2011. So what'd you do? You make a run up to 2000 in 2011. You consolidated that price point for a period of three to three and a half years. And if this is a real break, man, you're not gonna break 100, 200, 300 bucks, folks, okay? And we'll see where it plays out. But I talked about the ECB. I talked about the dollar. We'll see the Fed and the currencies. And of course, they're all related to say the least. All right, we gotta go back to the Hertz and the Tesla story. So it's so remarkable here, hindsight 2020, okay? But it's important to learn from these things and see when people are making monumental mistakes and make sure that you keep them on your radar potentially when you go forward, all right? Now, I mentioned that you were up to what? 19 bucks, yeah, in July of last year. Hertz right now is down 7%, okay? 7%, I'm not even sure. Is there news going on right now? Or is this, yeah, okay, so they get a downgrade. All right? I'm not even covering the story because it's down 7% right now. And it's down 7% today on the day that I'm just doing kind of like a big picture story that Bloomberg had up there, all right? So they're down 7% today down 56 pennies. They come out of bankruptcy and accelerate up to $46. That was in November of 2021. The run began in October where you were at $20, you accelerate to 46, you go back down to 20 and it's been a slow slide since that period of time. Now what's so interesting is, right? Keep that, what's the date there? November 1st, 2021 was that spike high, okay? Now we go back to Tesla. Tesla makes a high win. November 1st, 2021, 414 bucks. Pretty remarkable. And then I believe it was somewhere around this price point in April of 2022 that Elon creates a little smoke screen allowing himself to dump Tesla shares without telling the market that it was well overpriced with where he anticipated it going in the future. He buys Twitter, Twitter gets decimated of course in the meantime, but even Tesla got decimated. So he knew he had to get rid of these shares, okay? And he said, you know, why not create a reason to get rid of the shares that deviates from the fact that I wanna sell the price point this equity is at. He probably knew that he'd face some heat in Twitter, but he knew he was gonna face heat in Tesla as well. Now, what's so interesting is, okay? Climbing back to this. So the story was here we were talking about. All right. Now this talks about that, you know, they had a big old event in November 9th of 2021. I just showed you, right? What was that spike high? They were having huge events at Hertz because look at where this thing was in November, man. You were at what? 35, 46 bucks. You had two private equity guys, Tom Wagner, Greg O'Hara. They were throwing a party at the members only Manhattan social club frequented by Kim Kardashian and the mayor. They were greeted by Flutes of Champagne. They had Rautuna. They had everything in there, okay? They had Andy Warhol paintings, et cetera. Now what had just happened is they had just raised $1.3 billion in an IPO. Somehow in slightly more than five months, they had pulled off one of the greatest turns arounds in corporate history. That part is true at that date in time, okay? What is not true is what happened from there on out. Hertz's new owners were making a fully charged bet to swap Hertz's gas powered rental car fleet for EVs. The company announced an unprecedented order of 100,000 Teslas and they struck an exclusive deal to supply EVs to Uber drivers. Now, here are those two articles, which is so interesting. Hertz orders, and we all remember this, man, 100,000 EVs sends Teslas value over a trillion dollars, okay? They exited Hertz bankruptcy four months ago under new orders, the electrification plan to eventually include most of the Hertz fleet. If the reason why I'm focusing on this, right? Where was the reasonable thought process of saying why is everybody aside from the cool fact that Teslas were pretty cool at the time? Maybe it would allow you to rent a Tesla, try it out, experience an EV at the time before you buy one, but listen to yourself sometimes because if you listen to a reasonable thought in your head, and I'm talking to myself too, okay? This is all hindsight. I wasn't in there short in Tesla at 414, okay? If you listen to yourself, you could have said, wait a second, people don't wanna have electric vehicles when they're renting it in a place when usually they're unfamiliar, they don't have charging stations at home and they're gonna fear that they're gonna run out of electric in their car at a time when they don't have a charging station at home and they're unfamiliar with the territory that they are encompassing, okay? So that was the headline on October 25th, 2021. I showed you that it made a high on November 1st. And then you shift to the other article they were talking about, which was dated two days later, October 27th, which is the Hertz teams up with Uber Carvana in a big shift to electric vehicles. Uber drivers can rent Teslas for less than buying or leasing and they're gonna be selling online via Carvana may reduce losses to discounting. It's just an important thought process that I wanted to go through this morning because it is interesting in hindsight. You take a look at those two charts together and you have quite a decimation with Hertz spiking at 46, you're down 6% today, okay? The writing is on the wall right there and then Tesla manages its own animal, of course. You go from 414 at the same week, okay? You drive down to 100, we're at 168 right there. Now the last part I'll finish this up with is a bear take, okay? And this is a bear take, they're pushing their own book, I'm sure they got shorts in there. But Tesla bear, noted Tesla bear, I saw this one last night, said Musk's EV maker could go, Boston stock is worth $14, you know? Take it for what it's worth from the messenger, okay? But you had quite a mess of Tesla vehicles this year. When you talk about how much money they're making, right? Tesla made about $15 billion in 2022. And the problem when you're dealing with growth companies folks is when you get a multiple compression, right? As in, if you're expected to grow at multiples, exponential growth. We were talking to our man, Mike, from Somerville yesterday about exponential growth, right? Great conversation, both of us talking about, man, it is so difficult sometimes for humans to even comprehend exponential growth. The market sometimes really gets ahead of itself, compounding exponential growth into the price of things. And if you start really ripping those multiples away from a company, when you talk about growth, you can see decimation in the price of an equity. Now I bring that up because you jump to Tesla shares, we jump over to the analyze tab on the thinkorswim platform, we scroll down to the market cap, you're dealing with a market cap of about $535 billion. While they made $15 billion last year folks, they've been cutting prices dramatically. At $15 billion, it's gonna take what? 34 years to make your money back for that market cap? That's not quite how it works. Stay tuned folks. Are you ready to take charge of your financial future? TFNN is your gateway to the world of trading and investing. Whether you're starting out or scaling up, TFNN empowers traders and investors of all skill levels with top notch investing systems, strategies and techniques. It's time to protect and grow your money with insight you can trust. Join us live Monday through Friday during market hours for exclusive content that moves with the markets. At TFNN, we bring the trading floor to you. Our seasoned hosts are here to answer your calls and questions live on the air. Check out the Tiger's Den for just $1 and follow us on YouTube and become part of our vibrant community. And remember, at TFNN, we're so confident in the value we provide that we offer a 30 day money back guarantee on all new premium newsletter, subscriptions and services. You have absolutely nothing to risk. So why wait? Tune in live to Tiger TV and transform your trading journey because when you know better, you invest better. Join us and experience the difference today. 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Before investing, carefully consider a fund's investment objective, risk, charges and expenses contained in the prospectus available at direction.com. Read carefully. Distributor, Foreside Fund Services, LLC. This program is brought to you by Vista Gold, traded on the NYSE American and TSX under the symbol VGZ. Back folks, markets pretty much where we kicked off the session with the S&Ps up about 35 points right now. NASDAQ 100, you're up by 166 points. We put it back to a 15-minute chart for a short-term perspective. You see the acceleration there. Jobless claims, ticking up a bit. Keep your eye on those continuing claims, as I mentioned though. Continuing actually going down. Continuing claims, one week delayed though. So it would be interesting to see. Now we got a pretty important data point to put it lightly. Tomorrow morning, non-farm payroll is out at 8.30. You're gonna get job numbers from March. You're gonna get a lot of wage numbers in there. Very important numbers in terms of wages, especially following with the ADP number where we saw a dramatic uptick for the wage numbers. So put that one on your calendar, man. 8.30 a.m. tomorrow. I'll be live, of course, kicking things off at nine o'clock as well. We'll see where we go from there, but we get non-farm payrolls out tomorrow at 8.30 in the morning. Now, going back to the Tesla conversation for a quick second, okay? When I talked about multiple compressions, you had Tesla in 2022, okay? They had net income of $12.5 billion, which was a 128, and these are somewhat anecdotal, all right? You're gonna get a lot of variants, but it's a quick example of how you can see multiple compression and how that can factor into where the price of inequity goes. Tesla's annual net income for 2022 was about $12.5 billion, okay? $12.583 is what I have to be exact. That was 128% increase from where they were in 2021. That's quite a multiple for you, right? Okay, 2021, $5.5 billion net income. 2022, $12.58 billion, 128% increase. Well, geez, if they just keep growing at 128% net increase, my goodness, the market has to price in that multiple over a period of years. Well, no, they go from 128% increase from 2001 to 2022 to a 19% increase to $15 billion in 2023. Now, I know there's a lot of variants. I know the world changed dramatically from 2022 to 2023, but boy, it's changing pretty quickly when you talk about EVs, folks, and be careful for Tesla. Ford catching quite a bit today on the news that what? They're not making an all-electric SUV. Ford, up 1.7% on that, they're making a hybrid. Tesla's not making hybrids, folks. It's not happening, it's not in their wheelhouse. So where do they go? Well, you make that decision, man, but Tesla, and we jump over to Tesla as we round it out, basically flat, you drop off a bit, trading at 168 so far this morning. All right, where are we going next? How about Apple? Let's check out Apple shares before we go there. Apple, up about 5.10%, you're trading at 170.63. The news out there is that Apple, they're gonna get into home robotics. Got a couple of articles pulled up here, right? Where are we? Let's see. Yeah, we're gonna talk Apple. There's your Ford story. All right, so Apple explores home robotics. Tesla's not the only one that's gonna be putting robots in your home, folks. Home robotics is the potential, quote-unquote, next big thing. I wonder where they're getting that. Seems like a promo puff piece, usually does with companies like Apple when they get some news. After car fizzles, the company has teams working on automated home devices. The search is on for new growth sources after their EV gets nixed. EV always in the mix right now, right? You can't even talk about an article about Apple making home robots with somehow an EV not being in the headline of the article. But nonetheless, Apple, engineers at Apple have been exploring a mobile robot that can follow users around their homes who ask not according to people. The iPhone maker has developed an advanced tabletop home device that uses robotics to move a display around. I mean, this is coming, whether you realize or not, man, it is coming down the line and we're gonna have robots in our homes that can help us with very mundane tasks. I mean, you know, folding laundry, it's remarkable, man, when you think about five, 10, 15, 20 years down the road where the future's gonna look like. Though the robotics smart display is much further along than the mobile robot, it has been added and removed from the company's product roadmap over the years according to people. They look at some of the revenue numbers of the different products they've had, the iPhone, Dwarfing, anything else, obviously. But it's remarkable, right? The iPod, the AirPods, the numbers that you're talking about there in terms of what they've produced, pretty remarkable. The robotics work is happening within Apple's hardware engineering division and its AI and machine learning group. And yeah, still Apple hasn't committed to either project as a company and the work is still considered to be in the early research phase. So nonetheless, no real material facts in there. They are bringing it to the development within that company and everyone's gonna be bringing it in the development because that's where the future's going, folks. All right, we jump over to Disney. So Disney, you got Iger and the Disney board defeating Peltz yesterday. The market wasn't too keen on that idea actually. As you got Disney trading down from 123 to 119, you're off by about 310th percent today. Look like the market might have been looking for a little bit disruption there. I mean, it makes sense where you place your ads, folks. Bloomberg has plenty of shareholders, especially for shareholders that might be interested in making sure that they're voting. And I saw ads all over the place. I saw them on Bloomberg TV. I saw them on Bloomberg, the website. And yeah, so Iger gets it done, man. The goal, yeah, they got it done. They defeat Peltz. He's not on the board. Iger prevailed by rolling out a string of initiatives that tackle just about every issue the company faced while inoculating Disney against the activist criticism. We'll see where we go from here. What I have been talking about, man, one thing you wanna keep on your radar, and we do have some Disney shares, folks, pretty recently, we caught a nice little acceleration here in Disney, got in there before their recent earnings. So I think we're in there somewhere around 97, 98 bucks right now. You're up to about 118 in Disney for an equity position. It's somewhat of a longer-term position on Disney. We have a half a position in there right now. We may add to it, but we've caught nice bid, nice bid from where we were in February. And on a longer-term basis, okay? If you're not in Disney, if you're looking at Disney, one thing you do wanna keep in mind is that they're slated movies. When you start hearing about, and listen, the market gets ahead three, six, nine, even 12 months sometimes, okay? So don't wait until these movies start coming out. But you got a couple Star Wars movies in the mix, maybe late 2005, 2026, depending on where those production schedules go. You got an Avatar movie, maybe even a couple in that picture. Two years down the line, Disney's gonna have some powerhouse blockbusters. I mean, where are the Star Wars movies, man? They should have Star Wars movies every two to three years. I know they're gonna create a demand hole, that demand's gonna come back, but they got some blockbusters. It's been a while. It's basically been since about 2019 that they've really crushed it at the box office. And boy, they crushed it at the box office that year. And yeah, so that's if you're really looking for an opportunity, man. Position yourself out three, six, 12 months, somewhere in that picture ahead of where they start crushing some Avatar movies. They start crushing a couple of Star Wars movies within a 12 month span. That's where you're gonna look for an acceleration at the box office or for Disney, which they've been lacking for some time and that's putting it lightly, I think, as we all know. All right, we check back in on gold. Gold contract right now, hanging tough. There's your daily, right? Yeah, we got a red bar going on, but we haven't had one in a while, man. Gold started the run on February 28th at 2038. We're trading up by $260 there's some amount above there at 2,306. And folks, I talked about it earlier. We're gonna take a three minute break. We got one more segment in the program. That's enough time. Head on over to the front page of TFNN, 22 year anniversary since 2002, man. Think about where the world's gonna be in 22 years from right now. We talk about AI, right? Think about where the world is gonna be. Think about where it was in 2002 when my dad started the Gold Report. Remarkable, 22 years. All you gotta do folks, enter the code 22 years on the monthly price. We'll do it right now, 22 years. You apply that code at it. There's your savings, 35% off. It stays with you for the life of your subscription. You still get 30 day money back guarantee. Go check it out during the break. I'll be back in three minutes. We'll finish up the program. Don't go away, folks. Hi folks, this is Tom O'Brien. It's the 22nd anniversary of the Gold Report. Can you believe it? We've taken 22 trips around the sun together and we have many more to come. This year alone, the Gold Report has returned over 50%, and I want you to come along for the ride. 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And pretty interesting when you take a look in terms of what is going on with that company, you're talking about that they are now selling half of their sales online and in its shops away from a shift to department stores. Remarkable when you think, most of the time, people going shopping for jeans, man, you're going to department stores, right? Not the case, man, not what's happening. 50% of their revenue going on, either direct to consumer. Just remarkable the shift going on and you think about where the future goes from there. They've long relied on wholesalers like Macy's and Kohl's. That is not the case. In the three months ended February 25th, direct to consumer sales made up 48% of overall sales at Levi's up from 42% a year ago and 25% higher on a two-year basis. The change is happening pretty quickly when you look at that, right? 25% to 48% in two years. What's going to happen? They're going to be at 60, 70, 80% before we know it, man. And it would make sense. And then I've seen interviews with the CEO out there saying, listen, you know what's going on right now, okay, the whole world is going to change when you think about how you buy clothing, okay? The fact that we have clothing that is sized in a manner that is just this ordinary sizing that everybody has to fit into, that's not the case, man. You're going to be able to use your camera. It's going to map out exactly how your body looks. You're going to order them direct to consumer. The changes are happening dramatically. They're happening right now folks to put it lightly. Yeah, pretty remarkable. You jump over to Amazon. They're going to cut some jobs in cloud and computing. This news was out there yesterday but didn't quite cover it. Hundreds of jobs, it's not a big deal, man. We're going to jump around to some of those stocks as we finish it up this morning. Amazon shares catches a bid this morning with the market up by about seven-tenths percent. We jump over to Apple, up by seven-tenths percent as well. We check out NVIDIA, the AI poster boy, up by eight-tenths percent, even though they give it up a bit, to eight-97. They were above 900 on the open. We check in on Google shares, Alphabet. They're off of their high of 160 yesterday to 153.90. So far this morning, Intel, quite a day yesterday, man. They trade lower. They're slightly higher, up by half a percent, but that was a struggle for Intel. And we finish it up with a gold contract. Gold, down about 10 bucks, still hanging above 2300 right now at 2304. Don't forget, folks, check out that Gold Report sale on the front page of TFNN, only running through this week only. It's already Thursday. Stay tuned for our man Basil Chavin. I'll see you tomorrow morning. Don't forget about non-farm payrolls.