 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 alive from TFNN 906 a.m. 24 minutes to go until the start of trading and markets already off to the races in a big way to the upside right now We have the SMPs up nearly nine tenths percent. You're trading at 4395. That's positive by 40 points Even NASDAQ 100 up more than 1% you're talking about 1.05 percent up 155 points You look at where we were early Wednesday. You're talking about more than 300 points from 3 a.m. Eastern Time We'll call it fourteen thousand six hundred actually below that level barely We reach a high you're talking about 14,948 350 NASDAQ 100 points the dows up 292 points look at the acceleration We got out of the gate yesterday actually below 34,000. We're now at 34,549 in the Dow in the Russell up by more than a percent as well Positive by 23 points trading at 22 62 Bitcoin holding up relatively well another day of positive prices We hit 59,000 overnight in Bitcoin. We're trading 57,925 crude back up to near the highs You're trading up 72 cents at 81 16 and 81 handling crude natural gas right now at 580 Look at that volatility in natural gas continuing from last week at 587 down to 516 We're back in the 580 range this morning on natural gas gold continuing to catch a bit all the markets quite an interesting reversal yesterday You trade down lower to below 1760 and the price of gold yesterday accelerate higher We're holding on to those gains today up three dollars in gold at 17 97 Silver is up 25 cents at 23 42 and we jump to notes and bonds. We're getting a little bit of higher price Lower yield you're talking about a yield right now of 1.53 Percent 1.53 percent on the 10-year you're positive by seven ticks at 131 14 the 30 are as positive by three ticks At 159 24. Let's check out the volatility index this morning We get some job initial jobless claims numbers out this morning. Look at that retreat of volatility under 18 I think that's the first time we've been under 18 in a while Uh, yeah, you got to back things up to september 27th. It's october 4 d folks Uh quite an extended period to remain over 18 and you look where we are. I mean you're at territory We haven't been in in the vicks remarkably back to september 10th We have not seen a 1750 price in the vicks since september 10th more than a month ago Uh volatility really sucking out as we begin earning season Let's jump over to some of the headlines as we kick things off We'll start it off with jobless claims initial jobless claims. We're talking about the lowest level Since basically prior to the pandemic march of 2020 as things were really beginning to unfold Below 300 000 the number comes in at 293 000 a decrease of 36 000 from the prior week The median estimate that economists were looking for at bloomberg was 320 000 So slightly below that number the trend is your friend on that chart for sure to lower prices in terms of lower initial jobless claims You go uh on an unadjusted basis initial claims rose about 16 000 from the prior week You had many states california michigan missouri new mexico posted large increases Hear that one large increases not what you wanted to see though on there Tennessee texas in florida among those with the biggest decreases out there continuing claims That's a one week delay. Okay, so that's the week ended october 2nd dropping to 2.6 million for the week ended Uh, and I believe we're still dealing with um jumping back to the cmbc article because they actually tell us how many we're talking about On a continuing claim basis Declined 134 000 to 2.59 million another pandemic era low is how they put it All right, let's jump around to some of the earnings. We got bank earnings. We got bank america city group morgan stanley Well's fargo all out today. Let's jump around to their charts real quick Uh, gotta keep track of them all bank of america shares. You're trading higher this morning We'll jump over to the news in a moment, but you're up to 44 30. We have city group I think they're almost all trading higher city group trading higher today as well up to 71 15 So morgan stanley, there it is morgan stanley up almost two dollars Uh to 125 and wells fargo out as well catching up a little bit of a bid up to 46 44 Now getting into the numbers huge numbers across the board Topping estimates will start with bank of america. They earn 85 cents versus 71 cents expected How about revenue more than a billion dollars more than they were looking for in 90 days? There's the reason why you're accelerating higher 2 to 3 pop on the banks is a big move Uh for the banks on earnings not as much volatility as definitely some of the growth stocks revenue though beats by a billion Earnings as I mentioned beats by 14 cents profit surged 58 percent to 7.7 billion or 85 cents to share as revenue climbed to 12 percent Now you gotta remember just for a moment where we were a year ago. Let's pull up the 10 year Let's pull it on a three-year weekly. We're trading at 131 14. That is october You back things up to october last year and you had the 10 year I mean you back it up to early october. You had the 10 year 138 25 right when they were reporting last year They were reporting for the prior three months the prior three months banks were dealing with yields at about half Percent so dealing with some very friendly comps. It's the reason why you've seen some of these banks Accelerate higher. There's wells fargo. We're just talking about bank of america. So let's keep it there Bank of america as you see last october That's where the run really began when yields turned around you were chopping around at 25 Yeah, you grow that number 58 percent. You now you're trading at 44 dollars on bank of america with their numbers city group Profit surge 48 percent just big numbers across the board trading revenue was a big one out here as well As long as along with fees some of the investment bank fees that some of these banks collected 215 on earnings per share 17.15 billion the market was looking for a buck 65 on 16.97 billion So city beats morgan stanley beats estimates on record investment banking and asset management results there you go So revenue i mean it's just amazing their decimal points, but 750 million dollars. They beat on revenue 14.75 Versus 14 expect and i remember expectations were high for these banks and they're all trading higher That's a tough one To get done what they did earnings a buck 98 versus a buck 68. They're trading higher today as well Uh another very strong quarter. This is their ceo standout performance in integrated investment bank and record new assets of 135 billion in wealth management Uh, let's see net income jumping 25 percent equities trading jumping 24 percent to 2.88 billion Market was looking for less than 500 million from that number So what it was looking 2.38 or something to that degree fixed income revenue dropping though To 16 to 1.64 billion remember the fixed income number some of these banks were coming out with back then that's one of the areas They did have some strength there Uh investment banking here you go right the investment banking franchise delivered in the quarter posting a 67 percent increase in revenue to a record 2.85 billion That's more than a 600 million dollar beat from the expectations mergers and Fees and we'll finish it up with wells fargo for our banks wells fargo the headline there profit jumps nearly 60 percent in the quarter revenue tops expectations net income 5.1 billion a 59 percent increase earnings a buck 22 versus 99 cents and revenue They beat by almost 500 million dollars total 18.83 billion versus 18.35 billion You had a reserve release here as well of 1.65 billion As I showed all the banks trading higher in a big way wells fargo up about 30 cents and you see Up more than 100 percent from where we were last november. All right folks. Stay tuned We got s and p's up by 40 points. We'll come back talking to our man kevin hanks from td ameritrade fast market We got a lot more to talk about we'll be right back Everything in the universe is governed by the fibonacci sequence This mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market To stay on top of stock patterns. 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We have the smp is up an even 40 points right now You're talking about 9 10s percent in the positive nasdaq 100 up an even 1% trading up 147 points the dow up 9 10s percent as well in the russell up more than 1 percent right now As we got about 12 minutes to go until the opening bell. We got some bank earnings this morning We have some initial jobless claims number going back record numbers back to march of last year Let's jump over to our man kevin hinks from td ameritrade fast market Every trading day folks noon eastern time kevin hinks tom white breaking down the market action walking you through hypothetical trade setups in the option market We're coming into earning season folks. Great time to check out the program. Kevin hinks. Good morning Good morning. Tommy o brian. Yep. There's a lot of things going on in this market today Market feels pretty good about some of the data. It's getting both in economic data and in earnings, Tommy So jobless claims now has a two handle ppi came in Uh at some pretty muted lower levels. You've got all the banks Hitting on earnings this morning. You've got united health care hitting on earnings this morning. So uh this market Is starting to feel pretty good about itself. Tommy you know kevin if you said to me yesterday with Expectations pretty high for the banks rightfully so with yields rising especially from where we were a year ago Um Bank of america city group organ stanley wells fargo all of them would be trading higher today this morning pretty Uh, and their numbers kind of point towards us. I'm pretty strong numbers from the banks Uh, one of the things that kind of strikes me as interesting kevin is you're not seeing the types of themes that we've all been talking about Though that might persist later. Maybe in the earning season, uh as banks their product is money, man They're shipping money across uh across lines and that's not getting the way to supply chains Obviously wages could have been an issue, but they beat on earnings in a big way But as you talked about across the board almost everywhere else, uh, we've talked about the initial jobless claims number A healthy economy is in the 200s kevin. So we're back to 200s right now in terms of a 293 number And the ppi number as well pretty soft Uh with all of that we got cpi data yesterday. I mean the s and p kevin We were chatting yesterday. We thought we were getting a bounce in the market You gave it up briefly, but you look at the s and p. My goodness. We're now About 75 points above where we were trading at at 10 a.m. Yesterday. What are you looking at for this market? That's pretty relentlessly strong this morning Yeah, this market is feeding off a lot of positive economic data tommy and now we're you know to thursday in the week And what does that mean for the rest of the week? Well, you know, there's not you know, there's some You know, we still get retail sales tomorrow and we'll still get some consumer sentiment numbers tomorrow, but What appears to me what I'm thinking as I look at this market and how it's unfolding is When the when the jobs number came out Right last friday And you can make the case that when it was measured in mid september Maybe it was too early to be looking too early to measure Remember they they measure the numbers that come with non-farm payrolls about mid-month And maybe it was too early to add some of those numbers that we shouldn't have expected such a big number or It's more lumpy But you might might be seeing this market start to unlaw this labor market right now as we speak So some of the high frequency data coming in like jobless claims, you know That are down pretty significantly here in the last two weeks from the 350 level down to now below 293 So, uh, I think this is a market that you know, the banks didn't disappoint You've got united health care up big this morning So this market looks pretty healthy to start the day tommy. It's it's going to be uh, It's going to be fun. Now we move on though, right? We've got one more Uh earnings from a financial that's goldman sacks from our morning We'll cover that on the first segment of fast market today and then we move on We start getting into some of the teeth. Well, uh, the rest of the show We're going to look at netflix and disney today the streamers And so we're moving on to from the financials to the next Stop along the way, which is some big high profile earnings coming out next week in the week after that tommy And that's pretty cool, man I didn't even realize that netflix is out So i'm on the thinkorswim platform I jump over to the analyze tab the earnings tab october 19th They're out with their numbers. Have you seen the the show squid game yet, kevin I do I have not seen it. It doesn't look sound like something that's in my wheelhouse, but I have to tell you I think that you know, I see everything through the prism of trading tommy as you know, and if you think about this When you look at a company like netflix, where is their growth? It may not be in the united states is where they're thinking to grow so internationally This show fits perfect Into that scenario of growing internationally tommy. There's 1.4 billion people in china and netflix is not in china So international growth is where this company is going to go to the next level I think that's why you're seeing this stock run and that's why you're seeing people connecting the dots with the popularity of that show And the future of netflix tommy It makes sense, man, and and I Disclosure man, I got roped into it kevin in the family or watching it And uh, I don't normally watch dubbed shows too because it's just kind of tough with the the words not matching up to the Lip sometimes or really spoke to the fact I got sucked into it Is a pretty interesting show, uh the numbers though as you speak to are staggering I the number I was reading yesterday was something like 111 million people Have watched that within the first 28 or 30 days record break in the prior record They had kevin was in like the 80s or something just smash the record out of the books Um, and you think about the number of amazing shows netflix has had For it to kind of crush that record It just speaks to you know the kind of control they have in terms of just you put out a product and it just uh Here we are talking about it right myself a guy in his 40s And what does that all come back to tommy they're they're pricing right their ability to raise prices in the future It was for the value that I enjoyed it the house enjoyed it You know, I mean it's it's not much money, man If you can get into a couple shows a month or a couple shows every few months for sure netflix up to 629 and disney We have disney in my newsletter Quite a consolidation man. They have some catching up to do Uh, it'd be really interesting when they come out now. When are they out with their numbers? They're out with their numbers november 10th But it'd be interesting for them. They have a lot more to talk about I imagine this earning season man, whether it's with wages parks, right and the likes that netflix doesn't have to deal with Well, kevin, we appreciate the conversation as always man I imagine it's going to be an interesting day in the markets as always s and p positive by 40 points And uh, we'll be looking forward to the discussion on goldman sacks And then of course on some streaming apps you and with netflix kicking things off next week Thanks so much kevin. Have a great day, man. We'll be watching at noon today Thanks for having me on tommy My pleasure as always kevin folks tune in you heard them. They're talking goldman sacks to kick things off They'll be out with their numbers tomorrow goldman. Let's jump over and now goldman They're gonna have a little lofty expectations things get raised when you got your competitors coming out with their numbers There's goldman yesterday 378 at the low. We close it out at 386. They're positive by more than a percent right now with the market They'll have to live up to those expectations tomorrow morning All expectations are that they will considering all their competitors pretty much trading higher As we go into that and then netflix versus disney If you're looking for a program folks check it out not for the faint of heart that squid game pretty graphic violence In it has to do with it's a south korean show And it has to do with a people play children's games For millions of dollars and if you lose you die Pretty simple premise Nonetheless, it's taken over netflix just staggering when you think though 111 million and some of the biggest budget Productions that netflix has done. I think bridgerton was number two, which I have not seen But i've seen it in terms of there's the production value. It looks pretty staggering the the the production Quality that they put into that program only did like 80 million It's you know just a staggering beat That shows what netflix can put out and just like kevin says, you know if you're providing that much value You've got price and power at the prices they're dealing with stage you and folks will be right back from the market open S&P is positive by 40. 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We got markets open We get the smp trading a couple points higher on the open we're posited by 43 right now nasdaq 100 positive by 152 The dow surging how about up 400 points on the dow 34,651 right now in the russell up a percent to $23 in the positive 2261 We'll jump over to commodities crude holding steady above 81 bucks Just had a little bit of a drop off though at nine o'clock dropped about 50 pennies from where we were Goal contract right now holding steady right at 1800 on the dot And let's jump around to some of those banks real quick and see how they're open it up You got bank of america shares trading even higher up 3.3 percent right now Morgan stanley shares up 2.4 percent city group up 1.1 percent wells fargo shares up 1.5 percent and goldman tomorrow 1.8 percent they're getting priced up ahead of their numbers tomorrow morning now What else we have for earnings we got dominoes pizza kind of the one let's see I was going to say the one negativity today, but guess what give it some time folks Let's see how it opens not still negative down 3.3 percent dominoes from about 475 to 456 Let's jump over to the headline for dominoes pizza pull the chart up over here All right, and there we go. So same-store sales turn negative So there is the reason why they're not finding a bid was down 5 percent pre-market They top analyst estimates for the third quarter earnings Revenue fell short of estimates and same-store sales turn negative don't want to see same-store sales turn negative If you are an investor or long-term divester high demand for pizza during the pandemic has caused investors to worry about pizza fatigue Folks pizza pizza fatigue. Come on. No such thing And tough comparisons against last year's performance pizza not the healthiest product But no such thing as pizza fatigue, uh, at least uh for myself I could think I could live off pizza dominoes. They got pretty good pizza, too. I like their thin crust pizza Uh, I do and they got great deals man two pizzas 5.99 each that's the thing they they allow you two products for 5.99 each And it's a pretty decent deal and that's been you know, they really Put it together quite a business plan as they were able to Increase the technology of the company you could follow along your order They priced it appropriately for that and they were able to compete But guess what us same-store sales shrank by 1.9 percent the metric though up 15.6 percent on a two-year basis There's some nice context. Okay The market was looking for those same-store sales growth of 1.8 percent. So not what you expected now dominoes There's the action today. Let's back it up three week three years. Excuse me. You back it up three years All right. Now. They just gave us two-year comps up 15 percent. Okay, you back it up two years And you've almost doubled the stock price. Okay So yes, those are staggering comps on a two-year basis But you better believe they are because the stock is breaking from 240 to 460 Still showing 15 same-store sales growth I don't imagine that you're going to see uh pizza fatigue But really tough to compete with comps going into last year when last year That was a tough summer. We had whether july to october you had no vaccine efficacy just yet And nonetheless dominoes trading off its high at 548 from their last earnings when they really crushed it Now this folks is a lesson in not chasing stocks It trades from 319 the then gang busters up to 548 Well, you give it three months and we're actually under those prices at 460 to 68 got a little bit ahead of itself in a big way And as kevin said walgreens, uh, no united health is positive But you wall greens is out with their numbers wall greens boots Let's jump over to their numbers real quick before we get to united health Top's estimates drugstore gives twice as many covid vaccines as expected Beat expectations on the fourth quarter got a lift from covid 19 shots and tests and saw a rebounding demand for over the counter medication They have an investor day on thursday. Is that today they're talking about? interesting they're Yeah, well they'll lay out the plans for the year ahead 13.5 million vaccines during the three month period double the seven they were looking for Uh, delta variant probably accelerating that a bit They shaved two billion dollars in annual cost from its business They earned a buck 17 versus a dollar or two and they beat on revenue by almost one billion dollars in 90 days net income 627 million bucks From 30 373 a year earlier Yeah, big numbers for wall greens boots and you're trading up about half a percent and as kevin had mentioned united health Check out that acceleration up 6.7. You take a look at the three-year weekly This thing's just been non-stopped from 187 at the covid lows. You started off 2020 at about 300 I think that's an all-time high that we just put up. Let's back it up It sure is look at this run from 50 bucks back in basically 2010 yeah 30 bucks in 2010 to 430 bucks right now on united health shares All right, let's jump around to what else we got going on They're talking about bitcoin a little bit in the youtube tigers dan can't help but talk a little bit bitcoin when you're up a 58 Thousand check out this run right you put this thing on a daily We retrace a 50 percent now This is just going from the run we had in july when bitcoin was under 30,000 Okay, now if you're talking about a bc to d let's call your a point about 30,000 You know, you could call it 29 200 for simple math. We're going to call it 30,000 We're going to call the b point 52 5 simple math 22,500 and what do we got here? We got to pull back to 40,000 point b and a to b c to d that would bring us up to about 62,500 Okay, right near that all-time high you're talking about on 65,520 dating back to the day coinbase goes public Let's check out coinbase on that coinbase sitting at about 250. Uh, they got this thing out to the public Remarkable, right? I think the reference price was 250 Uh, because it was a direct listing. Okay, but talk about the market waking up to the valuation of this company How long did it take? This is a weekly bar. It took one week two week three week four week five Maybe six weeks to figure out that this thing should probably be trading between about 200 and 275 Should not be trading between 300 and 400 Coinbase even with bitcoin surging back to those highs. You're not seeing the action of coinbase There's probably a lot of investors in coinbase. Now. Yes, you've got a pop. You're up 10 percent from where you were last week Let's put it back to a daily since you can see the full run there. Okay, so you go public on april 14th And by about the middle of may the market had figured out that probably you should be between about 225 and 275 You're sitting right in the middle of that range right now at 250 But there's got to be a lot of disappointed investors folks in coinbase when you look at the run that we've had in all of these Whether it's ethereum or bitcoin now ethereum shares, which is interesting not back up above the september high right ethereum september You're at 4 000. Okay. You check out bitcoin september highs were What Let me get that off september highs you're talking about 53 000. We're now 4 000 above there So you see it a little bit of divergence in some of these equities You got bitcoin within about 8 000 bucks if it's all-time high ethereum shares Within about 600 bucks both of those You're talking about almost 10 or 15 percent though from the all-time highs of 4 400 and coinbase though As I said be careful on coinbase here because they will be around but man, they got some valuations that are Um nearing the stupid level is is one way to put it 53 billion dollar market cap for this company Uh, remember when they were talking about 100 billion market cap when they were coming out Be careful of some of those uh numbers folks. All right Let's jump around to some of the fang stocks see how we're trading this morning. Tesla shares Positive prices we go up another six tenths percent. Look at this run. Tesla's had man since may you were at 563 Yes, that's a low 5 46 5 46. You're sitting at 8 16 next stops probably 900 bucks for tesla shares We'll jump to the second richest man in the world amazon Jeff bezos up about a half a percent microsoft was higher pre-market Yeah, up by about six tenths percent apple shares right now up by about eight tenths percent google shares Look at that google up 1.5 Trying to make its way back in that uptrend channel. Stay tuned folks. We'll be right back Are you in the market for buying or selling real estate in the bay area? Including the surrounding st. Petersburg tampa and clearwater markets tiger real estate LLC is a firm that has extensive experience in the tampa bay area Whether you're looking to sell your current property for maximum value or you're in the market for a second home or investment property Tiger realty has the experience across all areas of real estate in the tampa bay area to help buyers and sellers make the most informed Decisions across all price levels from the price you should be paying per square foot in certain up and coming areas To the type of cash flow investment properties are capable of creating tiger real estate can help you make the best decision When it comes to all areas of the market before you make one of the biggest decisions of your financial future call tiger real estate LLC today at seven two seven three two nine 83 22 or email us at tiger at tfnn.com. That's seven two seven three two nine 83 22 call us today Technology around us is changing every day with so much happening. 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You get the dollop 335 nasdaq 100 up 167 If you head on over to the front page of tfnn folks next tuesday We're talking about five days from right now. Mr. Basil Chapman He is going to be hosting a webinar for opening call subscribers in five days tuesday Four till 5 30 p.m. Eastern times, so that'll be a 90 minute webinar If you haven't checked out his service daily trading service the opening call folks basil does an outstanding job Check it out on the front page of tfnn. You can sign up now. You gain access to the opening call You'll be able to access the archives. He's got about six seven eight archived webinars in there Four subscribers that you can watch you'll have access to the live webinar tuesday What to prepare for into year's end and what sectors to focus on now right to the point of the action What should we be looking at for the year end and what sectors is basil focusing on? Will there still be higher highs in 2021 and where will they be what stocks? What stock sectors and ETFs are we focusing on what patterns and Chapman wave notations are becoming more important Are there any buy and hold positions? We're attempting and best part of it Send your questions right to basil that you like them to take a look at maybe you're thinking about something Maybe you're thinking about a certain sector certain equity send them to basil Chapman at tfnn.com for subscribers He will answer them during that webinar tuesday night four till 5 30 new subscribers get a money back 30 day money back guarantee So check that out on the front page of tfnn. All right jumping back to crypto real quick Let me make sure where's my article here? Oh, come on. I had it up here All right. Oh, there we go. Perfect so you have the Bank of england's deputy governor for financial stability john cunliffe not familiar But he makes the case warning and when you got bank officials in any capacity folks, okay Has worn the cryptos could spark a global financial crisis unless tough regulations are introduced the one thing I wanted to bring up from this um There's a valid argument when you look about the amount of wealth created in such a short period of time And the volatility that persists within the cryptocurrency sector If you ever saw that volatility at such loft evaluations of market capitalization disappear There could be a reverberation throughout the market You have and he linked the rate of growth in the crypto asset market from 16 billion just five years ago To 2.3 trillion dollars today, uh, and he's linking it Likening it. Excuse me to the 1.2 trillion dollar sub-prime mortgage market in 2008 We just saw bitcoin get cut in half folks Ethereum cascaded with it as well when you start talking about trillions of dollars and you start talking about now You have trillions of dollars. Uh, maybe it's going to be Placed in etf structures that allows consumers to have access to that you see that type of wealth Wiped away. There is the fear that when something in the financial system is growing very fast and growing in largely Unregulated space financial stability authorities have to step up sit up and take notice We'll see where that goes but regulators probably keeping their eyes on it. I imagine so and uh, just something to keep in mind because That is 2.3 trillion dollars of wealth It sits out there today that is real wealth to the people that own that cryptocurrency And if you see a cascading notion in terms of those markets disappearing in terms of the value of those markets cascading lower You could see a reverberation Throughout other markets, uh, let alone you start getting not the type of margin calls But maybe that wealth disappears and maybe other portions of investments are predicated off of that wealth Which is really where the run could begin Okay jumping around at what else how about we jump to foreclosures? Surging now that coven mortgage bailouts are ending, but they're still at low levels Uh, yeah yearly comp's not really fair at all because foreclosures weren't happening at all during the pandemic As you had bailouts and moratoriums Foreclosure starts jump 32 in the third quarter of the year from the second quarter 67 higher than the third quarter of 2020 When you get into the states with the largest number of foreclosures, california, texas, florida, new york and illinois Excuse me the number of active forbearance plans fell by 177,000 You had an 84,000 plan drop among fha and va loans as of october 5th Nearly 1.4 million borrowers remain in pandemic related forbearance plans Representing 2.6 of all active mortgages not that bad of a number when you consider it out there Housing prices of course helping that one out folks because man, you probably got a lot of equity in your house In certain cities depending on where you are Even if you are on tough times, maybe that allows you to either sell the house Or maybe you tap that equity to pay for some of the forbearance or the mortgages that you couldn't handle But nonetheless those out there All right, let's jump to this story. So this is an opinion piece from bloomberg John authors Yeah, not really familiar but the numbers in here, you know, and they make the case he makes the case over here No getting around it the september data have dashed any hopes that inflation is transitory inflation is the word Of the hour word of the day word of the month word of the year probably Uh inflation this time it's personal as they put it now you get into some of these numbers here We all saw them. So this is the number we're talking about Inflation rate talking about cpi. Those are the numbers that we got yesterday You had a headline number of 5.4 percent the core is still about 4 percent year over year You are dealing with some tough cops year over year because look at the inflationary numbers in 2020 that you're comping out against Okay, you really had a decline there the first time we had that since 2016 Let me just scroll down Excluding everything you want to buy and it's still not wait not great And it's a great way to put it right if you exclude food shelter energy and use cars and trucks It's at the highest in 28 years and that's excluding all of that Think about that, right? That's the whole rhetoric in terms of food shelter energy Huge prices in a big way and nonetheless still it's at a high that we haven't seen in 28 years excluding all those things It's still above 3 and barely down from its peak and it's still at a level not seen in 28 years Now let's look at the trim to mean they go over Uh rate of inflation as produced by the cleveland fed. So this excludes the main outliers in both directions Okay, whatever they are. So you exclude an outlier to the upside and the downside Economists consider this a good and rigorous measure of underlying inflation and it's very high yet again You look at where we are across the board the trim mean rose very sharply for the third month in a row far above 3% With the exception of two months during the worst of the oil spike that preceded the global financial crisis in 28 It's the highest in 30 years They go down the line over and over folks Now the one that I wanted to conclude with nothing like the 70s. Look at the 70s. My goodness now. I was born in 1980 I got some u.s savings bonds when I was a child in 1980 and man those percentages were awesome on my u.s savings bonds in 1980 cash them in Like 10 years ago seven years ago something like that Nothing like that though when you put it on a chart So keep things in context context is important to see what the 70s and the 80s actually look like on that chart As we talk about highest levels in 30 years, etc And to finish that up Here's another article from cnbc and it just goes over prices continue to rise here's what's getting the most expensive We're all familiar with the big ones up there rental cars staggering numbers 43 gas is on the rise in a big way with crude higher u.s cars 24 But look at the others hotels 18 percent tv's 12 percent furniture 11 food When you're talking meat poultry fish and eggs healthy stuff out there protein up more than 10 percent Appliances 7 percent electricity Something we all use 5.2 percent restaurant prices rent rent at 2.9 depending on where you are that number is 20 Plus stay tuned folks. 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That's 877-518-9190 This segment is brought to you by thinkorswim For more information just click the thinkorswim banner on the front page of tfnn.com Welcome back folks We got markets in positive territory to say the least s and p's right now up a full percent 43 98 nearing that 4400 price mark remember just yesterday you're talking about 80 0 s and p points in the last 24 hours Excuse me and jump around to what else we have crude holding above those highs in terms of $80 We're sitting at 80 72 gold in the positive by about two bucks as well And don't forget folks coming up next our man basal Chapman with the opening call head on over to the front page You can check out basal's daily trading service the opening call You can get a month 30 day money back guarantee. You got nothing to risk You gain access to basal's webinar taking place tuesday october 19th five days from right now Like I said the moment you sign up folks check it out right now because you sign up you gain access to the service basal puts Updates out every trading day. He also puts updates usually out over the weekend He's been doing videos for subscribers on saturdays sometimes you'll gain access to all that So check it out on the front page tfnn and don't forget basal's up next with the opening call at 10 o'clock We've got our man larry pesmento coming up at 11 fast market at 12. They'll be talking some goldman sacks Let's jump over to goldman sacks with their numbers tomorrow. Whoa, what happened here goldman Looks like lofty expectations. Not so much. Let's jump around these other banks then. Yeah So look at the banks giving up bank of america Up 1.3 percent right now city in the red Little bit of a give back. Let's see what notes are doing. What's going on with these banks? They give it up in a big way no real reaction on notes to have that type of a die But all the banks little lofty In the pre-market wells fog go now down 2% you got morgan stanley Barely flat just traded down three bucks bank of america shares Up 1.5 and as a city right now in the red by about 3 quite a little reversal by the banks As they all beat in pretty dramatic fashion and guess what the market on the open says not so fast But it does not say that for tech stocks as growth stocks to the moon We go naztac 100 up 1.2 percent right now up 179 points. We're coming here 15 000 yet again Almost like that whole run of almost 400 plus points from last week did not matter Let's finish it up with the vixas this market plows higher 17 50 on that vix stay tuned folks You got basil up next larry at 11 fast market at 12 steve rhodes Dave white and tom o brian my dad wraps it up live from three till four Thanks for starting your day with me folks. Stay tuned for basil Chapman. He's coming up next. We'll be right back