 The following is a presentation of TFNN. The Morning, Markets Kickoff with your host, Tommy O'Brien. Morning everybody, I'm Tommy O'Brien, coming to you live from TFNN 8.30 a.m. Thursday morning. We're gonna get weekly jobless claims in the moment as we speak, but right now, Markets kicking it off in negative territory, following quite a day in the red yesterday. You get the Dow futures right now, negative 263 points, 25,130, S&P futures, negative by 25, 3023. Lows last night, though, made it about three in the morning. We were approaching that 3,000 point. I mean, look at this volatility, right? Here's yesterday in the S&P, quite a fall off from early in the session. The acceleration really begins right around the opening bell, right at 3,100 we'll call it. You jump down to 3,020 at about noon. We're oscillating around that level, but check it out. I mean, last night, talk about a trading range. Nine o'clock last night, you're trading at 3,056. You trade down more than 50 S&P points to 3,005. You trade up almost 50 S&P points then to 3,052. Now we're 32 points below that price level, the lows overnight, 3,005. And as we speak, getting that weekly jobless claims number 1.48 million. There's your headline. The expectation was about 1.35 million. All in all, when you're looking at numbers that are 1.4, 0.3 in the grand scheme, maybe not a big deal. And the market trading a bit lower, your tick and negative. We'll put this on a five minute chart so you can see the acceleration. Right since we came on the air at about 830 when that number came out, we were trading at about 3,025. You see the S&P is dropping as we speak. NASDAQ right now down 46 points at 99.65. The lows of the NASDAQ right at about 99.00 last night. Where we were at the beginning of the week, 98.34 Sunday night on the futures. Dow futures approaching 25,000. We missed it by three points last night, currently trading 25,096. Not that long ago. Yesterday, we were above 26,000 in the Dow. Jumping over to Crude, Crude pulling back quite a little volatile session for Crude. Yesterday, EIA inventory send itself. We hovered around 37.50 to 38.50. Currently breaking those lows, checking out Crude. Even below, actually the low that we made last night, Crude hitting 37.08. We got gold down about $10 at 17.65. The low last night on gold, a little bit of a spike low at 17.64, so right near that level right now. Silver down 11 pennies at 17.56. And no tin bonds. Excuse me. A little bit higher price, lower yield. The 10-year up five ticks at 1.39.01. The 30-year bond up 22 ticks at 1.78.17. Jumping around to the stories. Out there this morning, we saw the weekly jobless number claim we had, of course. Yesterday, quite a number, this playing into things along with many things, 45,500 cases in one single day. Now, there's a number of different numbers out there, right? In Florida, myself, I look at, whether it's the New York Times, they got a breakdown. Their most recent data had it at 37,000. Nonetheless, I think that is a high. Yeah, 30, what does it come in at? 36,975. The previous, 36,739 according to their count. You got the Florida Department of Health. Just in Florida, we're looking at 5,500 cases a day there. The number really in Florida that I keep looking at that is most stunning. There are a lot of stunning numbers coming out, folks. We'll jump around to them. This positive percentage and the acceleration that we've had, I mean, this is the number. No matter how many tests get done, how many people are tested positive out of those tests? Yesterday, a staggering number, almost 16% positive tests. That means we're not testing nearly enough people to be able to test, trace, and limit this thing as it explodes in Florida, as it explodes in the country. Folks, 45,000 people a day on an exponential path does not take long for herd immunity. And you might say, yeah, that's great herd immunity. You don't want to achieve herd immunity in something like this in that short of a period of time. Doesn't mean you have to shut down the economy, wear some masks, social distance, you can still maintain some safety. Living in Florida, these are stark numbers. As a Floridian right now, we are not able to travel to some of the New England area states without a 14-day quarantine. And I respect that completely. It was the same thing vice versa when it was exploding in New York and they were coming down to Florida. You wanted that, hopefully that plays out. Nonetheless, stark numbers all the way across the board. Jumping over to that 10-year yield. So higher price, lower yield, 10-year right now sitting at 0.66%. And I mean, just check out, this is year to date. What a long time ago that we were sitting at a 10-year yield approaching 2%. We've been hovering since this low at about six to seven tenths, maybe eight tenths. We saw spike up as high as about nine tenths percent for a yield on the 10-year early this month. Why was the market at all time highs if yields, right? Couldn't get back above six tenths percent. I mean, Fed's gonna be pushing out easy money for a while, but be careful of this folks. It's remarkable to see an equities market that is trying to push all time highs consistently. And you can't get the 10-year yield to consistently maintain any type of a yield over seven tenths of eight percent on a 10-year note. Remarkable action, treasury. Okay, jumping around to different stories. One of the ones that really caught my eye, how about this? So Facebook taken a lot of grief over, they're handling a many things, but you got for the first time, one of the biggest ad agencies out there that represents BMW PayPal Pepsi as their clients is gonna join the Facebook boycott. So Ben and Jerry's North Face Patagonia had also been out there already, but this marks advertising AG could be Silverstein. So Omnicon Group announced it tends to join the Stop Hate for Profit campaign and pull advertising from Facebook next month. I mean, one of the things that's happened is that Facebook, they've caught a lot of grief, but they've been printing money the whole time. So to their credit, you shouldn't be selling the stock if they're taking grief and all they keep doing is selling ads, printing money, printing profits. But if you start losing main advertising agencies and they appear to be the first major ad agency to join that campaign as they jump around, Facebook shares been pretty volatile as of late, you see the drop off from 245 to 232, just even over the last two days for some context of where we've been on COVID, above the highs pre COVID, 220, down to 137, we're sitting at 245, but that's quite a red bar that we just had and a lot of big red bars with the S&P down almost 3% yesterday, remarkable action. And as we jump back in, I mean, check this out, finding a little bit of a bid as we drill it down there. So we started the program at 830, we were trading about 3025, we trade down to 3020, we start talking about some different stories and just like that, the S&P pops 10 to 15 points, we're back at 3031, still down about 17 points on the session right now. Jumping around to the VIX, talk about a day for the VIX yesterday, spiking to 3712, right now you're sitting above 35, 30 on that VIX. Crew contract, as we mentioned, quite a volatile day for crude yesterday on EIA. We get natural gas numbers today at 1030, crude hovering right at around $37 right now and silver really fell out of bed yesterday and just kind of hanging around that lower range that we were at yesterday of 1760 on silver. Jumping around to some of the tech stocks, Microsoft shares from 203 to 197, we're gonna open, actually it looks slightly in the positive for Microsoft this morning at 197.95, Amazon shares 2740, not a bad price tag for the price of Amazon Apple shares, trading at 361.23, that recent high 372.38. Stay tuned folks, come back from the break, we'll finish up what we have in terms of going over the equities with actions this Thursday, we'll go over those weekly jobless claims numbers as well. Stay tuned folks, we'll be back in three minutes. Many of our new listeners have heard about the Tiger's Den. 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Folks, we got the SMPs negative by about 20 points. The Dow negative by 216 right now. Jumping over to Disney. Disney hit especially hard recently as the coronavirus spreading, whether it's in Florida potentially, California potentially, they get planned openings. They get planned openings of Mulan. Coming up, when is Mulan? We get the article up here, let's pull it out. So, Wednesday the company set a proposed phased opening of its two parks in Anaheim for July 17th who will be postponed as state officials will not be issuing theme park reopening guidelines until after July 4th. So everything looking to basically be pushed back a little bit on the Disney horizon, that would make sense. And they're also, I believe, looking at, let me jump around here, stocks making moves. We had Disney down here at the bottom, there we go. Yes, the July 24th released of Mulan. So a month out from now, maybe worried as this thing is spiking in a variety of states, not the best time to be trying to release that movie. They might push that back as well. So there's your Disney recap. And just for context folks, long-term buyers, if you've got 401k, an IRA, you're looking for an investment for a five, 10 year horizon, three to five year horizon. We're now basically under this level. We're back in this consolidation that we were in. Basically, we started this consolidation in February of 2015 from 90 to maybe 115, 120, the top end. This acceleration here, which is April of 2019, is when they came out with the details of the Disney Plus streaming service that they were gonna basically compete with price, with Netflix on price, and they were gonna undercut them on price, they were gonna bundle with Hulu and ESPN for like 13 bucks, and we're actually under that level. And that's a critical level in terms of if you wanna be a buyer, there's no reason you can't enter it with a partial position. Now, keep it in mind, they got a lot of pain coming down the pipeline, folks. Things are pretty rough in Florida, trying to open a theme park in Florida. And I've mentioned before, if you got plans to head to Disney and they are open, that company I imagine is gonna have some of the best protocols in the business for safety out there, okay? But that doesn't mean they're gonna be anywhere near the level of revenue that they might be used to. And when you talk about their movies as well, but guess what, Disney, they're gonna be really pulling people on. I mean, what if you would just spun off their, this is what I was thinking about just this week. What if you would spun off their streaming service as its own company, right? And you signed up 60, 70 million people over the span. I mean, this is kind of where we launched things in November of last year. 60, 70 million people signed up. The value of a company like that is so substantial that the weight of Disney's businesses for theme parks and so forth really crushing them. But in the long run, this level, I see it as critical, folks. Because this, we're now living in a world where we had no idea what their streaming service would be like. And they have vastly over performed on expectations. You almost can't over emphasize how much they have beat any expectations you had in March of last year in terms of what their streaming service would be like. It undercut Netflix on price and they're at 70 million people probably the next time they come out with earnings. So keep that in mind when you look at that stock. But there are a lot of trouble for the next year potentially, so keep that in mind as well. Okay, jumping around to some of the equities. We got a lot of earnings going on this morning. Out there, we'll start it off with Accenture, maybe. Consulting firm, they're trading higher. Good time to be a consulting firm, I guess, as your expertise in the market. They beat by five cents a share, quarterly earnings of a buck 90, revenue also above forecast. ACN is their symbol. Now this is a longer term. Whoops. There's some volatility for you, but we're gonna open at about 2.13 this morning. So there's your acceleration 2.16, the high. And there's your short term action on their numbers trading higher this morning for Accenture. Don't they sponsor a golf tournament, right? I believe that's where they come in to my mind. There's their brand marketing awareness. Darden restaurants out with their numbers, they lost a buck 24 share, smaller than the buck 65, the market was looking for. Revenue was essentially in line with expectations. Same restaurant sales declining 47.7%. Darden said same restaurant sales for the current quarter are down by 33.2%, with 91% of its dining rooms now open with at least limited capacity. DRI, tough time to be in that business of course. And you see the action on their numbers, looking to open actually a bit higher. And they were at 120 before this started down to 26. I mean, look at the moves on some of these companies. They were potentially hit the hardest. And the reason for the volatility is some of these companies, you had to price in the probability that they were gonna cease to exist. And that does not happen many times in the market that that probability is something you have to factor in but during this time definitely a possibility. Fact set, the provider of financial market information, quarterly earnings 286, they beat 243. Revenue above forecast the company said the quarter was strong despite challenging circumstances. This one trading higher as well at FDS. There's an acceleration and we're gonna open quite a little wide bid offer spread from 306 to 329, but nonetheless higher this morning on that company as well. McCormick, the spices maker, it would make sense people cooking at home, right? They should be beaten, beat by 31 cents a share, quarterly profit of a buck 47 a share, revenue also beat forecast, helped by the pandemic related increase in the number of consumers cooking at home, MKC. But check it out, we're basically trading up a bit, bid ask 173 by 175. This thought handled relatively well of course back to pre COVID if not above those levels from 112 at that spike low. Okay, right aid, the drugstore operator reported a quarterly loss of four cents a share smaller than the 38 cents a share the market was looking for, right? It's up big this morning, we'll jump over, I was looking at that this morning. Revenue also beat expectations as same store sales in the retail pharmacy segment rose 6.6%. They would drew the forecast, of course, why not? Why not withdraw the forecast when you can? But check it out. Okay, we're gonna open this morning on 1435. So there's where we're gonna open this morning, right? I can look at that long-term volatility, but drilling it down, there's a nice acceleration on their numbers from under 13 trading hired to approaching 1450 on right aid this morning. Okay, KB homes out with their numbers as well, beating by six cents, quarterly earnings of 55 cents a share, the home builders revenue missed street forecast, sales were down 11% during the quarter, deliveries fell 10% and net orders plunge 57%. So yeah, the headline was they beat estimates by six cents, but guess what? All of these numbers down here, hitting KB homes this morning as it is trading lower. There's your acceleration from 33 last night to 28. You're talking about $5, that's a 15, 16% hit on the open for KB homes on their numbers. We talked about Disney, Tesla, they're planning a battery research and manufacturing facility in Fremont, California. Tesla already has what it calls a small scale battery making operation in that same city, jumping over to Tesla shares, talk about a powerhouse recently, Tesla at 952, little bit of a sell off for sure yesterday, but still 952, come on, you can't complain with that type of a price tag. And Blackberry out with their numbers, profit two cents a share, market was looking for a two cent loss, revenue essentially in line, BB is their symbol, a little bit of a sell off from five to 450, and we'll finish up Ally Financial, they called off their proposed acquisition of subprime credit card and consumer finance lender CardWorks, that was a $2.65 billion deal. And a lot of deals I imagine getting thrown a little bit of a wrench when you got COVID hitting, Ally shares this morning, liking that action on the news last night from 1850 up to 21, we're gonna open it around 20 this morning. All right, folks, stay tuned, we'll be coming back after the break, we'll go over what other equities we have on action today, S&Ps holding steady, we'll get into that weekly jobless claims, we'll let it number a little bit more as well, muted response, the market basically pricing in 1.4 million initial jobless claims every week, stay tuned folks, we'll be right back. Back in the day, I joined the Hotel California in 2006, and like many of you was drawn in by bam, 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 wanna learn how to master the markets. 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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 for the latest market information. Welcome back, folks. We got the S&Ps minus 16. So, ticking up a bit, hanging tough with 1.5 million weekly jobless claims coming in. Continuing claims, under 20 million. We'll jump over to that in a moment. I wanna bring up Macy's briefly. Macy's out this morning. They're gonna be cutting 3,900 corporate jobs and a restructuring. Talk about a tough time for Macy's. Macy's at 6.57 this morning and jumping over. So that was your headline, 3,900 jobs. And there is the continuing claims. Okay, so one of the headlines is those receiving unemployment benefits fall below 20 million. If we are celebrating that, and we're not celebrating, right? It is a stat. But look how long this is gonna take us to get anywhere back near the realm of possible, okay? And keeping in mind, we get the CARES Act, $600. That's gonna be expiring at the end of next month. Excuse me, stark numbers, folks. These are initial weekly jobless claims, 1.48 million. We just came in at, those are people still losing their jobs. Before the COVID, the biggest record number ever was at about 700,000. We're gonna almost plateau it and 1.5 million people filing weekly initial jobless claims. And how we get this number back down to anywhere near normal, that is a long timeframe, folks. And that is the worry with the market sitting at all time highs. And we're probably gonna need some more stimulus if this market wants to hang out with the S&Ps above 3,000 right now down 18 points, trading at 3,030. We get the NQs at 99.99, the dial minus 216 points right now, 25,182. And we got natural gas numbers. Natural gas gonna be coming up at 10.30 an hour and a half from right now. Talk about some pain in this market, pulling up some contacts there on a daily. And we are now approaching. I mean, look at this acceleration, right? We were just trading at 180, June 12th. We were trading near almost $2 on May 27th. Natural gas at 156, approaching that low of 151. We had about three months ago at the market lows. Stay tuned, folks. Should be an interesting day in the markets after quite a day yesterday, S&Ps minus 16. We got our man, Larry Pezzavento coming up next with Trey.