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FBC Varney Company July 13, 2024

287 points. Tracing half of yesterdays loss. The Oil Price Crash is a problem yesterday, still his. Bankruptcies and layoffs are a near certainty in the oil patch, drillers can to make money, cant service their debt with oil in the 30 barrel range. Russia wants to meet with opec soon, to see if the price war can be resolved. Oil is back to 34 a barrel as we speak. The anxiety indicator, the 10 year treasury yields 0. 6 almost double what it yielded at the low yesterday which was 0. 31 . Big day in politics, primaries in 6 states. Im calling it bernies last stand. He needs to win big especially in michigan. He is way behind biden in two recent polls. That would be good news for investors, the threat of a socialist in the white house receives but it is not good for the democrats. Their split is obvious and toxic. Varney and company is about to begin. We are going to take care of and have been taking care of the
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FBC Varney Company July 13, 2024

President affectionate of his base and the other side who leads them socialist or a billionaire, wall street journal poll, the democrat race has tilted heavily to socialist, Bernie Sanders, hes got 27 support. The fading joe biden is essentially tied with newcomer Mike Bloomberg, the president s approval record hits new high for the poll, 47 tonight it really is mustsee splitscreen tv, all right, we will get to your money, of course, not quite as exciting as politics, chinas government says theres a slowing in rate of new infections for the second day, less than 2,000 new cases reported but beijing still has, you might call it credibility problem, 3 wall street journal reporters kicked out of the country objective voices gone. Anyway, the dow will be up about 80, s p up about 10 and nasdaq another nice gain, already at new high, up another half percentage point. Rally all acr ....

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FBC Varney Company July 13, 2024

Thats the anxiety indicator, if you like. This morning, the yield is back up to 1. 00 . Ashley back up. Stuart back up, thats right. Well above the extraordinary lows that we hit yesterday. That would be record lows that we did touch yesterday. 1 even on the tenyear treasury. How about the price of gold, another flight to safety. Actually its down again, off two bucks at 1641. Okay. The primaries. A great night for joe biden. He won nine states including texas. He now has more delegates than bernie. Sanders did win california, but late deciders swarmed to biden. Bernie might not have won california if the two million early voters had just waited. Bloomberg did very badly, only winning American Samoa. His campaign is quote, evaluating its future. One of my colleagues at fox said never had anyone spent so much to achieve so little. Elizabeth warren, ultimate disaster, third in her home state of massachusetts, fourth in her native st ....

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FBC Varney Company July 13, 2024

The market selloff continues and so does the search for a safe haven, the spreading virus is the main factor, dow industrials down 400 points at the opening bell, this is shaping up to be the worst week for the dow since the financial crisis of 2008. S p down 50, one. 5 or more and the nasdaq down 2 at the opening bell. The president has offered reassurance about the virus, quote, the risk to the American People remains very low. We are ready to do whatever we have to as the disease spreads. Now comes news of an unexplained case of the coronavirus in california. The patient did not travel to a virus hotspot and was not in contact with a known virus carrier. In other words it is here. Oversees dramatic action in japan. They closed all the schools until april. In italy, 528 cases at least, 12 that. Iran finally doing something. Having refused to quarantine towns or cities they suggested less unnecessary travel. Listen to what the p ....

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FBC Varney Company July 13, 2024

Economy some more and the dow will hit, wait for it, 32,000 this year. Thats optimism. Were at 29,000 right now. Then theres this, the New York Times issues its endorsement for the democrats nominee. The times is the bible of the Democrat Party and they split their decision. Theyve endorsed Amy Klobuchar and Elizabeth Warren. This is fascinating. Not biden, not bernie, not the former mayor of new york, bloomberg, no, left and far left is the times choice. Later today, the president flies off to the global elite get together known as davos. Picture this, please, the president fresh off trade wins and a growing prosperous economy, addressing over there while the trump haters over here try to impeach him. Im not keen on the expression but you cant make it up. Varney c ....

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