 The following is a presentation of TFNN. And Markets kickoff with your host, Tommy O'Brien. Good morning, everybody. I'm Tommy O'Brien, coming to you live from TFNN 9 a.m. Eastern Time Thursday morning as we come into another day where we got news, folks. We have GDP shrinking for the second consecutive quarter. The recession date, it's going to rage on. Now the whole conversation, my friends and I were having it last night, right? What is the technical definition? We're all going to get a quick listen in that, and we're all going to have our opinions. Nonetheless, the facts are we have GDP shrinking for the second straight quarter. We'll get into that in a moment. The market, though, when bad news is good news, as some have said, pretty remarkable that that's the world we're in, but that's the case, folks. You look at the action. On 8.30, you spike lower almost down to 4,000. Markets spikes up to 4,030. We're sitting above where we were on that GDP number currently at about 4,020. That's following the acceleration we got yesterday. Federal Reserve, Chairman Powell, they hiked by 75 basis points. Chairman's press conference following that? There's a lot you can read into that in terms of where you go. Yes, they don't have a set path in terms of no. He didn't say we're going to bring it with 75 again. He didn't say that at all. He said they're going to go by what the data says. But realistically, folks, that has to be the answer, whether he says it or not. Two months, we'll talk to our man, Kevin Hinks, coming up after the break. Can't wait to get his take on things because no matter what he had said, right, here's the important part. I was listening to some great analysis prior to the press conference yesterday. No matter what he had said yesterday, it almost wasn't going to matter. If they decided to go for guidance, it almost would have been unfair to their task at hand when you are going to get so much data over the next couple of months. The last data that we have, folks, is June CPI, right? It's not the last data we have. We now have a shrinking GDP. That's the last data we have from 38 minutes ago for the second quarter in a row. But when Chairman Powell was coming out, their guidance, the last data you had was basically a record inflation number. That was for the month of June. We are now in July. You're going to go to August, and then you're going to go to September for the next meeting. So you're telling me that they're supposed to have guidance yesterday on June data for decisions that they're going to make in September? Not happening, folks, okay? It sounds dovish on the front, but it could ramp up into very hawkish guidance if they're going to go by the data, and we get inflationary data persisting. Now, I'm not sure that's the case. What that really means is that all the chips are going to be on the table for economic data prints, especially as we come in to that next meeting. We might have a little bit of lull here in the Fed volatility. Doesn't mean we're going to have a lull in earnings volatility or GDP volatility, which still matters indeed. But nonetheless, here we go. S&P is down by three, not too bad considering the run that we had yesterday. You just hold on to those gains. The S&P is 107 points above where we were less than 48 hours ago. Context, very important. NASDAQ 100. 500 points from where we were 48 hours ago at less than 12,570. We got meta earnings. Bringing that down a little bit. We'll get into that a little bit later in the program. The Dow right now accelerates above 32,000 to 32,315 last night. We're still sitting above that level at 32,131. The Russell, only major index currently in the green right now. Positive by two points on the futures. Bitcoin. You talked about a run for Bitcoin yesterday, man. We got 23,000 from 20,710 just on Tuesday, yes. Crude trades higher. We almost got $100 this morning. We're back under $99,9882. That's not going to help inflation folks with crude coming back to $100. Pretty remarkable, right? This week from $93. Looks like we met hovering around $95. Had a great conversation with our man, Teddy Kegstad yesterday early, talking about, yeah, you know, you can't deny when you take a look at crude on a daily, right? Let's just zoom in on the action that we've had. You cannot deny, folks. Just look at where I put my cursor on my chart. $94. Maybe that's the best fit line. Maybe, right? Maybe linear regression of those lows. Where do you end up? You could call it an art, not a science. Do you take the tails? Do you take the bodies? Okay, nonetheless, no matter where you end up, we were pretty close yesterday. Some pretty critical action. And what do we do? We bounced. Now, how high do we bounce? We didn't even get to $100 yet. Near that price level. And gold. Finally catching a bid as well on yesterday's number. Gold. There's a pop for you. Yeah, the 230 press conference from Chairman Powell from about 1740 up to above 1750. Gold was already positive on the session. Today, you're up $23.80 at 1761. Now, keep in mind that this $24 pop is incorporating the move you got yesterday, because futures close in gold. This is 230, right? Or is it 130? It's 130 or 230. Gold contract futures close. So the session technically beginning at about 130 or 230 in the eastern time in the afternoon for that gold contract. And we got to jump to notes and bonds. We got a little bit of higher price and lower yield coming at you right now. You're talking about a yield of 2.7%. Pretty remarkable. We got almost a 3.5% just like that. You're backing off. You're at 2.7%. You take a look at this thing on a weekly basis. Now, what's interesting here is I'm going to back it all the way up. There's your 10-year, okay? I mean, look at the tail you get underneath the lows that we had in 2018, right? Talk about a tail. Now, that's a monthly. That's the monthly tail for June, July. We're popping nicely. I'm going to put things back onto a daily, okay? There's that same low that we got to. And now I'm going to zoom in just to see where we are in terms of the acceleration we had that recent high. You're talking about you back it up to really December 20th when we're at a 131. You trade down to 114. I'm going to back this out even a little further. Now, that's talking about COVID. COVID low yields of half a percent, okay? The trend has been down in a big way. You could make the case though that this acceleration started in August of 2021. And the floor really dropped out in March. Although you could make the case it started in December, right? Nonetheless, interesting that we catch a bounce kind of right where we caught a bounce in May. And we are now a full six and a half points off of the lows that we have as you have yields at three point, excuse me, 2.7 percent down from 3.5 percent of the yield on the 10 year. All right, let's jump around to some of the fang stocks, see how we kick things off after the bell tonight. We get Amazon and we get Apple. Everything was trading higher yesterday, man. We jump over to the analyze tab. So these companies as of the close last night, okay, Amazon about a $6 move, $6 and 26 cents priced into that equity. Apple, you're talking about a $5 and 26 cent move. Amazon right now trading at 120 with a $6 move. Apple right now, lower volatility trading at 156 with a 526. I mean, Amazon you know, there's a lot at stake, man. Last quarter, not the earnings that you want to wanted and there was your drop off, right? You continued after that drop off as Amazon pre-split, okay, at that time but post-split numbers from 142 down to 124 and you really bottomed out at about 102. Now, we're almost 20 percent off of the lows. This thing's had a little bit of a pop here. But when they came out last quarter, man, they said that they might lose money the following quarter as well. Gonna be some tough goes around potentially for Amazon and Apple. I think I have an article pulled up here on Apple. Yeah, the run that Apple has had into earnings. Let me see if I can find even the headline that I had up here in terms of it. Here we go because this is something to think about, man. Check out this Apple chart, okay? Apple. I've talked about this one before. This is a perfect way to come into this. Check out the five-year weekly. Okay, Apple the full COVID run. Look how close it is to the highs. The Nasdaq 100 folks for context is sitting right now below the 382. Apple's above the 236. The headline that's not the headline. We'll talk about Apple when we get back. There's your headlines. Raises the stakes. We'll talk to our man, Kevin Hicks. We'll be right back, folks. 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You're up by one point. NASDAQ 100 barely in the red. Dow negative by one point. Russell in the green. Let's jump over to our man Kevin Hinks every trading day folks 12 noon eastern time right here in Tiger T. fast market with your host Kevin Hinks. Tom White they break down the day's market action and folks there's nothing like this week to check out the program. Kevin Hinks good morning good morning Tommy O'Brien welcome Tommy to the participation trophy economy that we find ourselves in because Jerome Powell I think is one of the most effective said chairs in my career but I think in terms of how he described the economy yesterday he got it wrong. I think he should have said there can be strong recessions there can be very weak recessions there can be recessions with strong employment but make no mistake two quarters of negative growth is a recession Tommy period end of statement. Kevin I'm going to get you into our group chat with my friends and I because last night and this spans more than just financial professionals what were we talking about we're talking about the definition of a recession ahead of the number this morning man a lot of people are going to be talking about it now we know what camp you're in it's hard to deny when you got shrinking GDP man many of my friends making the same case that you're making right there and we get the number this morning and what is the market do Kevin we're positive by three points right now and that's after a heck of an acceleration yesterday what did you think of the chairman's remarks talking about you know they got to be data dependent seem pretty reasonable and that's where yeah you got to go at this point with two months as you mentioned yesterday until their next meeting yeah I'm like the market I love his comments other than him saying that we're not in a recession I understand why he would say that right though the world we live in now the truth is what they can convince you to believe but the markets are the final arbiter of what's going on in the overall economy and so but the other all his other comments I thought were as usual right he's proficient at giving the economy or the market the news they want in the right manner and I think he said he did that so I think he was selfish enough to talk about that but he also gave very positive comments on why people should still believe it but listen I think the market made the decision on what Jerome Powell's comments were and the market we said during fast market yesterday if you if you watch the show market can either go to unchanged or double its move from where it was went when the show was on and sure enough it doubled the move from we were so I don't how usually speaks pretty friendly to the overall market and I thought that's what he did again yesterday other than the one exception of his view of the recession it is pretty remarkable that he has that statement at a hike of 75 basis points which is the second consecutive hike of 75 basis points because inflation is raging and it's also the day before we literally get two quarters of GDP print he had to know that that was a possibility coming so I'm sure he was very aware of it and nonetheless we're going to find out where we go from here as well one of the arguments that one of my friends was making last night is by the technical definition it's always backward looking as well so even if you're having this debate and you got to have whether it's the economist on board man usually you can only figure that out by the technical definition if that's where you want to go to in a rear looking fashion that's one of the things that I'll throw in there with that Kevin we got meta last night some tough earnings for them they are trading lower by about 7 bucks this morning they lost 2.8 billion dollars in the virtual reality augmented reality segment ads slowing as well they're only back to where you were Tuesday though after the run they had would you think Facebook meta earnings after the bell last night yeah I think some of the fears that snap gave us came to fruition right and I think that's what I think is slowing as we hit a slower economy and that's it you know what here's what I think in a bigger picture Tommy Facebook has been on cruise control for years and years and years where Mark Zuckerberg could basically do anything he wants and Facebook was growing big enough so he could make mistakes and they'd be covered up by incredible growth this is going to test and see if Mark Zuckerberg can manage not just easy massive growth but choppy waters as well and the transition of a company from one place to another so I think this is going to figure out if he's good or just lucky Tommy because most people that are successful are just lucky we're going to find out if he's good you know it's going to be interesting I got an Oculus Quest 2 for Christmas I believe time is flying man I can't believe it was last Christmas it's going to be August and it kind of blew my mind immediately Kevin it really did I imagine the future at some point is going to be deeply rich in virtual reality and augmented reality but man we may have some time play out if you just go back to self-driving cars folks I mean even Elon Musk in 2019 I think he was saying in 2020 they're coming these things the last mile takes a long time it's going to be the same thing with VR and AR at some point it'll happen one thing that did stick out on Facebook in Zuckerberg's credit and I don't give him a lot of credit really because he's done a lot of things I don't agree with but they're decreasing their spending total expenses in 2022 between about 85 and 88 billion the number they were previously putting out was 87 to 92 so there's a little management decreasing the spending I'm sure investors like to see that at least with the slowdown with that in mind Kevin we got two big stocks coming up today what are you guys talking about on fast market at 12 I said Tommy I'm days like this the shows right themselves so we'll look at like those who do presentation on Apple of course and then we'll look at Amazon and then we'll look at we're deciding right now between Roku and Intel but we'll probably lead towards Roku a little more little more going on there that that Intel but we have a rule that you were debating as we speak but if you're still Amazon and Apple if you're still taking votes for the third one Kevin I'll throw my vote to Roku if it's if it's a an election of the people will throw their Intel stock as well there we I mean the volatility on some of these stocks Kevin even down from 490 Roku's got a range of like 77 to maybe 100 on a percentage basis that is quite a range that this thing is bouncing around in and Apple and Amazon the two big ones I was reading an article this morning Kevin on Bloomberg talking about Apple on course for its biggest monthly gain since August of 2020 quite a run-up into these earnings as potentially up in the stakes for Apple overperformed can't deny that versus this market sitting at 156 well Kevin we appreciate the time as always man we appreciate the time this week on a busy week and we'll be looking forward to the program at 12 o'clock today man have a great one have a great weekend and watch it 12. Thanks so much Kevin take care folks tuning you heard it Apple, Amazon, Roku or Intel in the third segment always a great program especially today you're going to get some GDP conversation I'm sure you'll get some Fed speak of course that comes into that as always when we have following yesterday's action and we'll find out Apple and Amazon man and as I mentioned right you check check out Apple's run folks from the bottom of COVID at 53 bucks to the highs we came into this year at 182 you bounce off the 3A2 you got to love Fibonacci's folks right they're always right they're not always wrong but at least you have a nice clear area that you can trade you know yeah and you get under that area okay it's not an exact science 132.85 the 3A2 maybe you scale in around that price level okay we are well above the 236 right now even the NASDAQ 100 maybe the most comparable to Apple isn't even at the 3A2 okay yeah keep that in mind because Apple's been holding this market up relatively well and if they start to suffer that could be pretty ominous we get a key of that tonight after the bell stay tuned folks we'll be back to the opening bell time of booming inflation we are purchasing powers eroded there's no better place to protect your hard-earned money than in gold this the gold flagship asset is the Monk Todd gold project in northern territory of Australia this is Australia's largest undeveloped gold project we are talking a world-class gold project in a tier one mining district this is a large-scale low-cost project with significant existing infrastructure in a politically safe and friendly mining jurisdiction this the gold just completed the Monk Todd feasibility study which resulted in a 7 million ounce gold reserve in a 16 year mine life all of this combined with the approvals of all major operational as well as environmental permits this distinguishes Monk Todd as an attractive dearest pot ready development stage gold project this the gold trades on the New York Stock 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brought to you by Think or Swim for more information just click the Think or Swim banner on the front page of TFNN.com welcome back folks we're going to open for about 30 seconds and we're sitting comfortably higher right now you got the S&Ps I mean check out the action we come into the open basically a pre-market session highs S&Ps up by eight right now NASDAQ barely in the red that was after a heck of a day yesterday well we have yesterday 3.5 4% on the NASDAQ NASDAQ 100 Dow up 62 points right now within about 100 of the high we had yesterday and you get the Russell up by eight Bitcoin above 23,000 crude up 90 up excuse me and you got the gold contract continuing to climb right now you have yields continuing to drop jumping over to the 10-year they're talking about the Tigers Dan breaking out check out that acceleration from 830 man we're up a full point we are up a full point right now from where we were trading just at 830 this morning excuse me 2.66% that's mind-blowing man 2.66% down from 3.5% within a hair that number at least not that long ago okay jumping back to Apple, Apple and Amazon after the well tonight Apple up 4.10% coming into that number Amazon up 4.10% coming into that number you jump back to Apple so the article from Bloomberg here just pointing out a few things right so Apple's up 15% this month so far folks there's the volatility that we've been seeing over since about August or 2020 when it had some accelerations as well Apple has already performed some of the other tech giants tremendously Apple is outperforming because it's a place of safety for investors that's Gene Munster who covered Apple and Google during his 21 year career as an analyst at Piper Jeffrey familiar with that name he's got loop ventures now every company will be impacted by the upcoming slowdown Apple should fare better probably part of the reason why Warren Buffett's got such a good example right there the new GE of everything the rally means investor expectations are higher for the companies quarterly earnings due to the market closed Thursday I would say so folks I mean I keep bringing it up right Apple's got a lot of expectations sitting at 157 right now man all your back to folks all right you talk about a depth of a reception a recession all your back to is November 18 prices excuse me November 18th not November 18th prices of last year the market peaked out six weeks later okay a catastrophic bear market is not usually when the biggest company in the world gives back six weeks of gains right I mean think about that this has been a run for some context year in 2008 Apple was traded $2.90 you went up to 182 you came back to 140 and you're at 156 it's been a bull run since 2008 folks I mean crazy to think about that it was trading at that time I mean going back I mean what is this I mean Apple was a big company in the 90s folks even when they're having problems and there are pennies on this price they were launching the iPod in what 2001 when did they launch the iPod it's crazy to run this company iPod launch let's see date 2001 October 23rd 2001 let's get it stock was at about a quarter crazy now it's been 20 years I'm dating myself a little bit okay but nonetheless back to Apple they've overperformed the market and they come into their numbers tonight you jump over to the analyze tab they got about a $6 move priced in at $160 stocks you're talking about about 4% Amazon a little bit more percentage wise $6.78 for $120 stock now Amazon not so much the case man not overperforming the market at all Apple all your back to is November prices right I will put Amazon at $170 you're at $120 Amazon actually closer to 2018 prices then it is November prices to put things in context completely different businesses so not really comparing them like that but nonetheless and look at this Amazon actually negative as they pull back a little bit you get a positive open they give back about a dollar real quickly let's jump to Apple's doing they're actually negative as well Roku after the bell tonight you talk about some volatility man Roku up $10 from where it was on Tuesday let alone it was at 97 bucks last week you got some tough earnings from some of the digital advertising companies whether it was snapchat the likes Facebook probably not helping that out as well Roku opens flat today now you want to see some volatility man $10 and 70 cents so what is that talking about 12 13% all the markets in the green quite a market folks you got all the markets in the green right now you get the Fed hike and 75 basis points consecutively you have two consecutive quarters of negative GDP and the markets like we're going higher man we're going higher and we're within six points of the highs of yesterday now taking a look at where we're going folks you better get very careful at $4200 in this market my dad's been talking about it as well $4200 is going to be a critical area I would even say once you start getting to $4100 you're going to start approaching whether it was the high we got back to on May 18th May 17th May 18th you were up at about $4,095 was the technical high those are correlating to some of the lows that we had from early May also correlating to some of the lows we had from March also correlating to the low we had from February that low in February $4101 anytime you start bumping up into areas that have been resistance excuse me support they were support they can turn into areas of resistance lots of areas on that chart folks when you get into the $4100 to $4200 range in this market be careful in this market I mean you know you go back to October you were only at $4,260 with everything going on 9.1% inflation two consecutive quarters of GDPs decreasing supply chain issues still taking place in a big way and and you're telling me the S&Ps are within a stone's throw of where we were just last October now you can't deny the market got ahead of itself in the final quarter of last year that was kind of where the steam had run out you just plowed into the new year and then the market sold off and gave back the last quarter within 24 days of of the year starting but nonetheless be careful we'll see how the earnings go today but everybody is cheerleading chairman polly yesterday folks I couldn't wait to open my phone this morning and see where the futures have been because the last few meetings we've gotten some big moves and then you've had reversals on the following day kind of the market digest things or whatever happens I feel like the market's getting a little bit ahead of itself thinking it's the greatest news ever that the chairman has not forecasted 75 basis points or 50th the next meeting okay because all he did is he said we're going to wait for the data there was the illusion to potentially pausing or there being a delay you know I was listening to it I was trying to listen to those words very very closely but as I said kind of in the beginning of the program there was really no other choice no matter what God said there in chairman Powell's mind I imagine he is saying man we got a lot of data to go over the next two months the last data we really got for CPI was already stale at the time right the last big data point we have for inflation was the CPI number from June it's about to be August and they don't have another meeting to hike until September so of course they're going to be very interested in the June number and the July number in the August number right excuse me in the July number and the August number we already got the June number so you got July and August they're going to be coming out before their meeting in September along with every other data point that goes with that along with the earnings and many companies everything is going to hang on the PCE the CPI wage wage growth everything is going to hang on that and if those CPI numbers are big folks the conversation is going to shift just as quickly as it did over the last three months to higher rate hikes the market didn't know 75 was coming consecutively but guess what it figured it out when we got some data we'll be right back we have a trusted source of analysis for bonds, metals, stocks, commodities and options for years and we are happy to announce that we are bringing that same caliber of analysis for the Forex market Teddy Keckstad has 30 plus years of experience in Forex trading, commodity risk management Forex hedging, volatility and so much more Teddy releases his weekly Tiger Forex report every Monday morning with elite coverage of all major currency pairs including the DXY Euro dollar, pound dollar Aussie dollar, dollar yen, dollar swiss franc and so much more Teddy will recommend specific trades when the market presents them and provide updates throughout the week when warranted for the month of July, inaugural members of the Tiger Forex report will receive 25% off the monthly subscription for as long as they're subscribed just use promo code 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our business on your business on our business on services LLC This program is brought to you by Vista Gold traded on the NYSE American and TSX under the symbol VGZ Welcome back folks we got the S&Ps barely holding on to gains right now little bit of a pullback though from those highs we're down about 15 points you're still 1861 so jumping back to the GDP a little recession talk or basically the probability of that occurring so the economy shrinks for a second quarter raising recession odds the one thing to keep in mind here okay that is an important part of this conversation which probably is not going to get brought up as much as it should is this is a preliminary first estimate of GDP I think it gets revised two or three times and many times especially right now with all the volatility going on in this market and how hard it is to peg some of the data we've seen some huge revisions to those GDP numbers so what you're going to see is like I'm seeing out there this morning my friends are chatting about it as well I got some smart friends folks they're having some great conversations because there's so much up in the air right now and you can make great points about both sides of it folks and we don't know who's right or wrong right now that's a great that's what makes a market right Kevin Hanks you heard him man it's a recession the one thing is that this is first look they call it preliminary estimate showed Thursday on the first look we've had some huge revisions to GDP going on one comment out there this morning I was reading saying the last 10 times there have been consecutive quarters it's been a recession but that's the last 10 times that you had the final estimate of GDP okay and many times there's been some steep steep revisions on both sides of it there is a very real chance that one of these quarters from 1.6 or 0.9 gets a revision to the positive side before it's all said and done keep that in mind okay these are not the final numbers this is the first number in an economy that is very difficult to peg and I don't know how they do it man I don't got the fundamental grasp of how you peg a GDP that is so large and so broad in terms of how you get that number and how it goes through the first estimate second estimate third but those numbers take a while to come in and there's always huge revisions especially right now with how hard it is to have an analysis of really what's going on now that's the conversation around two consecutive quarters okay but if you're looking for uh the technical okay definition there's no recession recession until an obscure panel of quote unquote egghead says so now this is from June July excuse me earlier this month okay but it's talking about what the other side of that is and you're going to hear they're loudly debating we're debating it this morning right a recession technically is made by eight eminent economists meeting quietly far from public view so what is it folks it is the national bureau of economic research based where beautiful Cambridge massachusetts uh and they don't like that analysis of two quarters recessions have huge impact on the markets and politics you got to know that right now it is led by robert hall 78 year old stanford university professor and yeah he's going to get a lot of limelight right now with this conversation uh this the national bureau bureau let me get the exact uh of economic research established in 1978 by a Reagan advisor been around for a while um um yeah so we'll see how it goes man conversations already happened in the then folks if you haven't checked out the tiger's den get in there and check out the tiger's den because we got some volatility coming down the line man you get ready for those economic numbers folks because with no guidance from the fed in inflation raging and at least the first estimates were getting of GDP on two consecutive quarters of negative action the data is going to be more important than maybe ever before i mean i've never had data determine whether the fed is going to be hiking by 75 basis points to tame nine percent inflation that's pretty important data if that's what's at stake and that's literally where we sit right now all right yeah they go over everything right a third of economists see a recession ahead um so anyway that's going to play out all right let's jump to some of the other stories we got going on jet blue to buy spirit for 3.8 billion so frontier um backed out of this deal spirits subsequently said it would continue talks to be acquired by jet blue it's going to be interesting to see how this plays out with antitrust especially i was reading in some of the northeast ports like boston and new york and i hope they do man because i'm going to be flying into boston and uh those are two competitors right now that are going to team up jet blue that's been the airline that i usually fly in terms of in the past flying they have some great routes from tampa to boston uh but front frontier is out of the bidding and so that's going to allow jet blue to buy spirit airlines for 3.8 billion but that's going to take some time to play out it'll be interesting to see how that plays out let's jump over look at these markets watch out folks so jet blue they're down about eight tenths percent what is spirit save is that it right yeah yeah spirits up 3.6 percent now the price that they'd be paying for this 32 something right where are we 33 50 a share including a two dollar and 50 cent prepayment if spirit shareholders approve the deal and 10 cent ticking fee starting next year until the deal is approved jet blue really wants to get it done man they were trying to juice up that offer to get ahead of frontier the surprise all cash bid it's for spirit in april through spirits plan to combine with frontier into a disarray and jet blue got it done man they blew up that deal now spirit has to go with jet blue and we're going to see that play out but 33 50 is the price and you can see the market somewhat skeptical as it's only trading right now at 25 50 all right other stories i got up there what do we got let's talk a little facebook okay so facebook's out with their numbers last night they miss pretty pretty broadly uh you're talking about earnings of 246 versus 259 revenue misses by 28.82 billion versus 28.94 daily active users up by a tick monthly active users down by a tick average revenue per user they miss by a penny but man when you're talking about 2.94 billion 2.93 billion people and you're making 10 bucks off a person folks that's a staggering number to put it lightly uh revenue in the second quarter fell one percent from a year earlier not what you want to see uh disappointing third quarter forecast continuation of the weak advertising demand environment we experienced throughout the second quarter which we believe is being driven by broader macroeconomic uncertainty pay attention to that one man um they're going to reduce the headcount over the next year as it tightens its belt for an economic slowdown i alluded to that with our man kevin hanks that's one thing that you like to see folks because one of the biggest problems that this company could face they're still going to make tons of money in ads folks okay is are they going to outspend themselves is zuckerberg going to try and and solve virtual reality overnight and spend all the money they make on whatsapp instagram facebook and the likes well at least he's willing to back things down revenue in the third quarter will be in the range of 26 to 28.5 market was looking for 30.5 that's quite a miss okay that's a decline of two to 11 percent from a year ago declining revenue two to 11 percent quite a haircut man uh they talk about charles stanberg stepping down so their headcount increased 32 percent from a year earlier at 83,553 the company indicated earlier in the period they're going to slow the plan of hiring equing the sentiment of many of their peers and there's the the revision in terms of their total expenses i mean that's a revision of two to four billion dollars less they're now going to spend a maximum of 88 billion prior it was going to be 92 uh they may spend as low as 85 the prior was 87 virtual reality they brought in 452 million dollars in sales in metas reality labs they still lost 2.8 billion dollars in 90 days talk a little bit more when we get back about this we'll take a look at some of the companies uh they're coming up besides these two after the bell tonight we'll be right back folks tfnn has just launched their new trading room the tiger zen 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 and now they are expanding their reach with the tiger's den available to all tigers and tiger's for just one dollar for the year there's no catch or added costs when you join our community of traders in the tiger's den you can look over 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the day of action on Fed Day versus the following day you've seen reversals almost continually it's only 25 minutes into trading man but we got a reversal going on and check out the two big dogs apple off 1.1% right out of the gate amazon off almost 2% out of the gate you got roku off 3% with their earnings after the bell tonight other companies we got auto zone out with their numbers tomorrow excuse me let me pull that out a lot of companies are had those numbers they're down with the market 2.2% we also had some other companies out with their numbers earlier this morning so mastercard down about 4 tenths percent on their numbers Comcast with some weak numbers man they're down 9% right now Pfizer off 4.5% right now Intel is after the bell they're off 1.1% you jump over to anal analyze tab that's about a 2.40 cent move so you're talking about 6% move priced into Intel after the bell what else we got that was already out there yeah Harley Davidson out with their numbers decent numbers for Harley Davidson trading up 7.8% a lone bright spot almost on a tough day for some of the equities alright folks head on over the front page of TFN please check out Teddy's report the tiger 4x report only a couple days left you save 25% when you put in code Teddy 25 out there and if you haven't checked it out folks Steve Rhodes put out a great report last Friday special report folks this is all you got to do okay right here on the front page click here to read the special report no strings nothing to sign up for there's your special report go check it out right now on the front page of TFN and Steve Rhodes putting out a great report he just saw some action in the market he wanted to share it with everybody tigers and tigers is that's on the front page of TFN dot com right there free as well check it out folks stay tuned we got our man Basil Chatman coming up next talk about some volatility talk about a trader's market thanks so much for starting your day off with me folks stay tuned we got Basil up next Larry he's still a little under the weather okay but then we got fast market at