 The following is a presentation of TFNN, the morning market kickoff with your host Tommy O'Brien. Good Wednesday morning everybody I'm Tommy O'Brien coming to you live from TFNN 8.30 a.m. 60 minutes ago until the opening bell and right now we have the futures market green across the board slightly positive S&Ps up by about four points trading at $31.40 right now NASDAQ futures up $31 trading at $10,563 got the Dow up $19.25,789 oil this morning up about $0.11 cents or $5473 we got the $10.658 percent we get some mortgage demand into that in a moment for those low interest rates as far as Europe the DAX down about six tenths percent FTSE down about three tenths percent as far as Asia Asia numbers Nikkei down about eight tenths percent Shanghai actually positive 1.7 percent HSI positive by about six tenths percent as well jumping over the contracts for commodities will start off with crude 4072 climbing up near the highs of about $41 that we saw early on Monday gold contracts been quite a week for gold making new highs this morning at 1816 90 trading at 1814 the price of gold silver up eight pennies we were as high as 1889 and silver notes and bonds will start with the 10 year there's your 10 year 130 905 the 30 year minus four ticks at 178 28 jumping to the indices your S&Ps currently positive four points we make a high late Monday volatility Tuesday quite volatile we get off the program at 11 a.m. and think seem drowsy the markets were climbing to positive territory almost across the board and then Kaboom 11 15 a.m. we trade from 31 71 down to a low basically right at the close of 31 32 so you're talking about 40 points approximately in the S&Ps and since the close we've been jumping around at a lower range of between about 31 30 maybe 31 35 the upper end of about 31 45 to 31 50 we're kind of right in the middle of that range so kind of just hanging out right where we were in terms of the lows of yesterday morning and pretty close to the lows that we made at the close yesterday evening in terms of the Nasdaq NQs pretty similar story right above basically where we were pre-market kind of around the close yesterday the highs 10,694 were about 130 points off that level in the NQs the Dow 25,790 highs after Monday 26,280 in terms of where we were yesterday when the slide began early in the day the Dow is above 26,000 we're about 200 points below that level terms of what else we have going on in the market I mentioned mortgage demand quite a number mortgage demand spiking 33% as rates set another record low mortgage applications to purchase a home rose 5% for the week and we're a remarkable 33% higher than a year ago home price gains continue to accelerate so low mortgage rates are giving buyers much needed help in terms of that number the average contract interest rate for the 30 year fixed mortgage with conforming loan balances dropped to 3.26% from 3.29 points including origination fee for loans with a 20% down payment decreased to 0.35 from 0.36 some mortgage demand continuing to be strong this story out Brooks Brothers the story to Perle brand they're going BK I was half joking and you never see want to see a good business I like Brooks Brothers I got Brooks Brothers shirts they got good quality stuff a little bit pricey they get outlets down in Florida though there might be there might be some good sales coming on some Brooks Brothers apparel but I joked it's hard to sell suits when everybody's working in their pajamas these days but unfortunately Brooks Brothers filing for bankruptcy generated more than almost almost a billion dollars in sales last year 200 stores they're going to be closing some 51 of them a decision it attributes to the pandemic so I mean I I've I've shot many times at the Brooks Brothers Brooks Brothers outlets in Florida and I definitely haven't been doing any of that since about February March during the pandemic that's for sure one of those big outlets not where I'm going to be going to hang out on the weekend but Brooks Brothers going BK Walgreens quite a story here so they're striking a deal with primary care company to open doctor offices in hundreds of drug stores so it's going to be Walgreens and in the back corner it's not just going to be the pharmacy you're going to be visiting your village doctor your village MD your your primary person Walgreens and Village MD struck a deal to open doctors offices in 500 to 700 drug stores over the next five years most of the primary clear care clinics will be about 3,300 square feet about a quarter of the size of Walgreens average stores check that out right it's not just going to be this little back pharmacy area you cut Walgreens in four and they're going to dedicate 25 percent of their average store or maybe they're going to build it out from there nonetheless that's a big operation they're basically building an entire primary care doctor's office one stop shop for everything more than half will open in areas with a shortage of health professionals and a population that's underserved that's great it's good to hear for sure to see how that's hitting Walgreens Boots Alliance WBA is their symbol you got to like that pop right up to about 4350 from above 4222 yesterday you want to talk about pops how about let's just talk about walmart man walmart coming out with walmart plus yesterday talk about an acceleration up from 118 to basically 128 almost 10 dollars it was up yesterday technically closed 12695 we're up about a dollar from that level even extending those gains it's going to be 98 dollars it's going to come with a variety of benefits not really sure the exact same way it was saying I think they're saying free same-day delivery groceries maybe a huge part of walmart's revenues is groceries they're almost turning into a grocery store they do 40% I think of their business just in groceries along with maybe some cheap discounted gas I know you know how does that play in with Sam's so Sam's is you know the Costco competitor to you know walmart Sam Sam is Sam is the Costco's right they you can join him yet Sam's is Walmart and one of the big benefits is you can get gas there either way the market loving that they're going to basically bring people into their ecosystem a hundred dollars a year we've seen what it's done for amazon once you sign up for that you do all your shopping there a lot of people shop at walmart folks could be a big thing in the market things so as well we're still almost a dollar positive on walmart the interesting thing was I said oh man what's going to happen to amazon and amazon almost didn't even react to that news target didn't either I'll pull them up in a moment I mean the market pulled back amazon pulled back we're still sitting at 3,022 a remarkable number when you look at this run in amazon I mean tom was saying yesterday in his program you could pull back to 2,700 in the stock and you got nothing wrong at all a natural pullback you just went from 1626 to 3069 remarkable acceleration now as I mentioned target as like well the target maybe get hit yesterday in that Walmart news not really you know you were down a bit yesterday with the market yesterday but you trained at 1,1845 on target be interesting to see if they try and adopt a similar thing maybe they're not to the economy as a scale maybe they don't have quite a big enough reach to start charging people for that type of a service but you know that they're going to be talking about it with the way walmart reacted and waits done great things for amazon all right let's check in on the vixas we wrap up this first segment 2,907 a little bit of elevation on the vix we're currently trading at 3,137 in the smps big numbers big numbers in the vix though as volatility priced into this market checking out those smps 3137 just kind of bouncing around this area right around the close no real action you know tight trading range overnight I woke up this morning I said what's going to happen where the futures ah they're up like two okay everything's calm I kid stay tuned folks we coming back for the break see what else we have on tap for Wednesday trading we got oil inventory numbers at 1030 this morning as well as what other equities we have moving stay tuned folks we'll be right back many of our new listeners have heard about the tiger's den the tiger's den is a lively community where professional traders and investors can meet exchange ideas and information in a comfortable moderated atmosphere here all of the tfnn shows plus see all the charts as they happen live and have access to archives of all of those charts you can test drive the tiger's den absolutely free for 30 days and greatly enrich your knowledge of these markets and how to make your money work for you details on the tiger's den or on the front page of tfnn.com tfnn has launched our brand new website you can still visit us at the same tfnn.com url but when you do you'll see a new and improved homepage with a much simpler navigation whether you're watching tiger tv live in high definition or just accessing your 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forget you can listen to tfnn live on your mobile device 24 hours per day go to tfnn.com then hit watch tiger tv that's tfnn.com then hit watch tiger tv for the latest market information welcome back folks right now we get the s and p is trading at 3136 we get the nq's positive by 19 the dow negative by 19 as the market tries to find a bid or an offer Wednesday trading we get the eia oil contract we get the inventory numbers today 1030 about two hours from right now tom and i'll be in the air for those oil approaching that 41 level for some context here we've been bouncing up against this 40 41 you could call it all the way from about june 8th right a month we've been hovering around that level made it back down to $35 maybe that accelerating you could say the curve is flattening right maybe we hang on at this level consolidate for a bit we're right in this gap which is intriguing the low 4105 so we bumped up to that level and we're kind of just hanging there we get the oil numbers 1030 we'll see how those shake out all right jumping back to some of the stocks with news today nikola an analyst of jp morgan upgraded the electric truck maker to overweight from neutral noting the stock is starting to look attractive for the long-term investors in view of a number potential positive catalyst in the coming weeks and months nikola of course the other name of tesla nikola tesla the other maker of electric cars quite the story run here to $43.99 all the way back down to $40.23 talk about a little bit of coming back to reality but today you're going to open almost 10 percent higher from $40.08 to $44.41 you see the pop there overnight on that change from jp morgan apple doge bank hiked its price target on apple to $400 a share from $380 implying 7.3 percent from where it closed yesterday overall we feel comfortable that apple should continue to offer upside for investors a doge bank analyst said in a note however the analyst noted the stock's recent sharp run up has us nervous yeah uh it's it's it's tough to see how far this stock we were just a 378 yesterday right there their price tag was 380 and they bumped it up to 400 we just traded from 220 I think 212 the low talk about a rocket ship one way I mean there was not much pain in this trade from March 23rd what are these retracement here from 288 to 265 that's a $23 retracement but you just ran from 212 to 290 right again we get the pullback of about $20 320 to 300 we get the pullback from 354 to 332 and we're sitting at about 372 let's jump around to some of those bank stocks real quick amazon holding up well above 3000 bid ask of about 3020 by 3022 this morning Microsoft shares closed yesterday at 208 25 after making it all the way up to 214 we're going to open at about 209 on uh Microsoft's Netflix 504 high yesterday you're going to open at 497 this morning Google shares was up above 1500 briefly yesterday we're going to open anywhere between about 1490 and 1495 Facebook shares all time highs yesterday I mean think about this all time highs talk about the cost of doing business right what happened to the the Facebook boycott uh of advertisers the cost of doing business um Zuckerberg I mean this this year alone during the pandemic you look at it stock opened at 203 to start this year uh it's up almost 20 percent at 240 right now from 137 down on those lows all right what else we have going on biogen they're they're trading positive after the company submitted an application to the FDA for a treatment to Alzheimer's can't pronounce that one if approved that drug will be the first treatment with the potential to meaningfully change the course of the Alzheimer's disease that's there the company I mean pretty optimistic I gotta hope that'd be true that's the company putting that out biib the stock reacting though biogen let's get this on some smaller context and there's your pop to 300 on the dot back to about 288 98 on some promise hopefully for a treatment to the Alzheimer's disease Altria shares of the tobacco giant downgraded equal weight to overweight at Barclays Altria is 100 percent US exposed and continues to lose market share yeah originally it was thought like you know cigarettes they aren't going to pay the price here during COVID everyone's going to keep smoking you see that low down to 30 from 52 I did pay quite a price actually and we're going to open 39 94 for Altria caterpillar they got upgraded to neutral from underperform 135 a price target let's see how caterpillars trained this morning maker of big equipments from 150 to 87 we're going to open a little bit positive probably on that upgrade to 120 803 yeah all right let's get into some of the COVID data in terms of how that's hitting so this was a story you're talking about last night 56 Florida hospitals get that headline for me ICUs have hit capacity Florida we've all heard the numbers spiking here pretty dramatic yesterday for the first time you had 60,000 cases in the US overall Florida been hitting between I think yesterday's number was 7,000 something seven day average person seven eight nine 10,000 cases a day and the worry here of course is ICU spiking hospitalization spiking whether it's in Houston Florida California with some big numbers as well and you know this is going to play out folks if this continues so hopefully please wear a mask you have the death tolls being updated in terms of the expectations now over 200,000 deaths some estimation saying if 95% of people wore a mask you might be able and this is talking about in America that you might be able to save 45,000 lives not to mention the economic stimulus that will be allowed for not having to shut down as much if you ever see an overload like this because in Florida you know you're talking about that schools are going to open right that's the conversation going on right now folks I can tell you being in Florida being around people with kids if you have 1012,000 cases a day and this thing is just raging sending your kid to a school for many people is not a very comforting act and you're going to see that play out if you see hospitals spiking ICU spiking hospitals filling up 1015,000 cases a day 100,000 cases a day potentially in the country you can open up the businesses you can open up the schools but this is going to have an effect and when the S&Ps are sitting right now at 3139 and those numbers are spiking and we're seeing ICU is filling up I don't see how this is going to put a little fear in the market and when you pay attention to the VIX folks that's what the VIX is saying I mean Kevin Hinks yesterday right he was talking about this it happens because there's a skew you know if you are if you have S&P puts right and maybe they're out of the money you're not going to sell them because there's a skew here that there's a there's a risk to the market being priced in with the VIX approaching 30 at a time when you have the NASDAQ making all-time highs almost on a daily basis I mean let's put this back on a daily doesn't get much better than this uptrend folks green bar green bar I mean what do we just do right since we went over that we're talking about trading one two three four five straight six straight days making new highs almost I mean you had to get above this level but almost six positive bars yesterday turned around and the S&P trading at 3139 so keep that in mind as these things play out hopefully we get a vaccine and a treatment but right now you're seeing hospitals filling up there's already you know hospitals we're making the choices now in Florida because we're living it that no more optional surgeries right no more that because we got to make room for the ICU beds they're filling up and you're going to see things shut down even if they don't shut down you're not going to see people out there and where are all these earnings they're going to come that the market's trading at 3200 in the S&P you're at least going to see some volatility in these stocks as potential huge states like Florida, Texas, California are potentially forced to shut down yet again restaurants indoor dining all of that all right stay tuned we'll come back see what other stocks we have looking for action check in on gold check in on oil again with numbers coming out of 1030 stay tuned folks I'll be right back to three minutes back in the day I joined the hotel California in 2006 and like many of you was drawn in by as well as whatever you think about you bring about whatever you focus on growth you see I believe that everything in life happens for us not to us and Tom ignited the fire within me to want to learn how to master the markets so how did I go from knowing nothing about technical analysis to becoming the number one market timer for the S&P 518 and the number two market timer in 2019 simply put I hired coaches with a proven track record which led me to a whole new set of tools that I created to interpret the message of buyers and sellers I 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know going back to school this is an article I want to touch on as well just in terms of 66 percent of parents are anxious about sending their kids to the classroom again this fall due to the coven 19 pandemic according to an annual back to school survey huge money and again you tie it to whether it's you know life and reality or you can tie it to the economic impact they're both very related total back to school spending in the U.S. expected to amount to $28 billion or $529 per household Florida Florida has Florida virtual those parents out there you know that's a possibility that it's it's something that you're able to do and this might be an opportunity no matter what happens schools might be open but that doesn't mean parents are going to be super comfortable and then the and then the next step goes right the tough part is that who stays home with their kids though and then and if the parents work that's a very difficult situation and something that is gonna come quicker than we think folks it's July 8th schools in Florida start normally in like six weeks from now and that's not going to happen with the way things are going in any normal semblance to what we're used to and how is that going to play out here you know you got Brooks Brothers going BK as we talked about people not buying suits anymore especially right now when they're working from home so often a much more relaxed atmosphere I even see people on national television shows just being completely more casual in their home setting and somehow it's seeming normal and so maybe that's the type of thing you're gonna see at least for the short time on schools as well potentially all right folks stay tuned we got our man Larry Pezzavento coming up for the market open with trade what you see from nine till 10 should be an interesting Wednesday with the markets right now you get the SMP, NQs and Dow futures in the positive stay tuned folks we'll be right back