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FBC Varney Company July 13, 2024

That. A modest down trend. Tomorrow, though, thats the big jobs report. Almost certainly the worst in history. Okay. But look at this. A rotten economy and a Big Stock Market rally. We get a lot of inquiries as to why is this happening and the short answer is well, the market looks to the future and its clearly seeing an economic recovery, and the trillions pumped into the economy are very much appreciated. Put it like that. The dow is going to be up over 300 points at the opening bell. Thats better than 1. 3 . A similar gain, 1. 5 for the s p. Look at the nasdaq go, up 1. 5 . Thats because of this. Big tech. Again, leading the market. Just look at this. Apple is at 303. Amazon up 21 bucks premarket. Nice gain for microsoft. Nice gain for netflix as well. Thats whats happening. Big tech again dominating the market, plowing higher. Bombshell news in politics. Mr. Impeachment, congressman adam schiff, he is not looking good. There ....

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CSPAN3 Brian Lamb Susan Swain Jeffrey Rosen Michael Gerhardt Robert Strauss... July 13, 2024

Welcome to the Constitution Center. Tos is such a happy day celebrate the collaboration between the National Constitution center and cspan. [applause] nonpartisans a mission and that coincides with the Constitution Centers mission. The National Constitution center is the only institution in america chartered by congress to disseminate information about the u. S. Constitution on a nonpartisan basis. Beautiful. That was so well done. I was so thrilled when my friend and colleague susan swain, the head of cspan, came just a few months ago, or rather weeks ago, and said, we have this great new book on the president s. At the National Constitution center. It is such an honor to welcome ....

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FBC Varney Company July 13, 2024

Nobody wants a second wave. The market starts the week on the upside again. Investors like the get back to work trend and there are several forecasts of imminent recovery for the economy. Secretary mnuchin says there will be a rebound july, august and september. The dow is looking at a 200 point gain first thing this morning. Thats close to 1 . A nice gain for the s p, close to 1 . The nasdaq will be up over a half percentage point. Now, the reason the nasdaq is up, because of this. This week, many Big Tech Companies report their financial position. Strong results expected because the virus lockdown has a more limited effect on these companies. Premarket, most of them are up. But look at oil. No joy for the drillers. They are looking at 12 a barrel and the worldwide glut shows no sign of easing. Over the weekend, the price slump claimed another victim, diamond shamrock. The drillers declared bankruptcy. The price of gas still ....

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FBC Varney Company July 13, 2024

Hardpressed drillers . We will ask. Now we are quoting the next contract for june delivery. The price coming in at, where was it moments ago, what was it, 15, 16 a barrel. The president will fill the Strategic Petroleum reserve with up to 75 billion barrels. That helps storage capacity. But it makes no impression on collapsing demand which is at the heart of the oil price problem. A lot of people expect that that price, the one we see right now, what was it, 16, 15 a barrel, expect it to down from here. Well see. Stocks, theyre down in part because of the Oil Situation. Its another indicator of how badly the virus is affecting the economy. Investors not happy about the demise of Americas Energy industry. The dow will be down 500, s p, lets see, 54 points down and the nasdaq down about 82. A small loss in percentage ....

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FBC Varney Company July 13, 2024

Which prevent michiganders crossing the street to visit family members. No relaxation of the social distancing rules from President Trump. Hes considering extending the keep your distance regulations into the early summer. Then theres this. Antibody tests that show far more people have been through covid19, three million in new york state, 20 of new york citys residents have had it. That means the fatality rate, the number of people who died from the virus, comes way, way down. Interesting. Quickly to the markets. Not Much Movement at the open today. Orders for durable goods in march down 14 , yeah, thats bad but it was expected. The dow is going to be up 193. I call that little movement. How the times change. We will be back to 23,500, big gain modest gain for the dow, nice gain for the s p and for the nasdaq as well. Look at oil, staying at low levels. We are looking at 17 ....

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