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FBC Varney Company July 12, 2024

California will open movie theaters on friday, at least in a limited capacity, but they are opening. Guess what . We have an ipo today. Remember those . Vroom, an online used car retailer, goes public this morning. All positive signs abound. Yet the media is jumping on the headline from a group called the National Bureau of Economic Research. That Group Reporting late yesterday that we are officially in a recession and that it began in february before the pandemic. Still scratching my head on that. You can bet we will be discussing it. And heres another return to normal for you. President trump says he will begin holding Campaign Rallies again in just a few weeks. The Trump Campaign will be joining us in ....

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FBC Varney Company July 13, 2024

Inspect a face mask production facility. Its a clear signal hes out and about for the first time in weeks. The markets like this. The opening up, that is. Look first at the price of oil. Th 23 a barrel. Thats because production has dropped sharply, limited supply and the likelihood of a pickup in demand as more businesses open up. The president just tweeting on that literally moments ago. Here it is. Oil prices moving up nicely as demand begins again. Thats the backtowork movement evident in the oil market. Stocks, they are going up, too. Reopening is popular with investors. Look at this. Lot of green, lefthand side of the screen. The dow is going to be up about 300. The s p up 36 and better than a 100 point gain for the nasdaq. Yeah, tuesday, may 5th, a positive tone today, if you ignore the everwhining media. Varney company is about to begin. Stuart lets get right at it. We will bring you an update on the reopening of the country. California and new york, both outlining their plans. ....

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FBC Varney Company July 13, 2024

Come friday, thats mayday, with spring weather, getting out of the house and back to work will surely take another step forward. Look at this. Investors love it. We know we are in the middle of a seriously shrinking economy but back to work means a way out of the mess. Top officials including the president and the treasury secretary expect a vigorous recovery later this year. And soon, we will see the Financial Statements from the allimportant big tech companies. Investors are expecting solid results and that, too, is helping the overall market. Heres the big negative of the day. The tumbling price of oil. We dropped to 10 a barrel. Now we are at 11. 87. At the moment, its not hurting the stock market, but the possibility of going back to a zero price or a negative price as we did two weeks ago, that is still on the table. Gas, yep, keeps on falling. Not quite quickly enough, maybe. 1. 76 is your
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FBC Varney Company July 13, 2024

Says the economy will take off quote, like a rocket ship when it reopens. The questions, though, are when will that be and what will it look like. The market is asking those very same questions as it searches for direction this morning. More green on the screen but again, markets want to know how much economic damage has been done. Meanwhile, moodys says economic output fell a staggering 29 in the first week of april. That is compared to march. That is the first full week of true social distancing rules in place across the country, and that was the result. Down 29 . The other big story of the day, the w. H. O. Is under fire from President Trump. The president saying he may freeze funding to the organization over its response to the pandemic. This is happening as we get more clarity on what may be in a fourth stimulus package. President trump wants 250 billion more for Small Busi ....

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FBC Varney Company July 13, 2024

Time to lessen the economic pain, which we are clearly suffering. Meanwhile, fox news has blown the lid off the china virus story. Reliable sources suggest the virus began at a virology lab in wuhan, china. Patient zero, the first person to get it, was a lab worker who went out into the city and spread the virus from there. Now, the chinese authorities covered it up. They delayed action. They altered data and suppressed doctors and journalists who reported the truth. The story is an indictment of china and the communist authorities. It will dramatically change the u. S. china relationship. Heres how the markets reacting to all of this. We got bad news on manufacturing in the philadelphia and new york area. We got a sharp drop in Housing Starts. And weve got those dreadful jobless numbers. But the dow is going to open on the upside, maybe up 90 points. Thats almost a half percentage point. Same story for the nasdaq and also, look a ....

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