The following is a presentation of TFNN the morning market kickoff With your host Tommy O'Brien Good morning everybody. I'm Tommy O'Brien company live from TFNN 906 a.m. Thursday morning We got about 24 minutes to go until the start of trading and man quite a market coming off fed day yesterday Putting things on a 15 minute basis yesterday You come down to right near the lows of Tuesday and man You're talking about more than a hundred points. You're talking about almost a hundred and forty points You're talking about all-time highs this morning just prior to 7 a.m. Trading at forty seven forty three since then though You've had the S&P's give up about half a percent 22 points to the downside 47 20 from those highs still positive by about 20 points on the S&P's Nasdaq positive by 45 points this move in the Nasdaq man watch out Microsoft had some pretty magnificent moves Apple nearing the three trillion dollar mark yet again. We have the Nasdaq 100 yesterday Chairman Powell comes on 15,750 you trade up how about seven hundred points to the highs this morning sixteen thousand four fifty seven now You take a look sixteen thousand four fifty seven. You're talking about only about three hundred points You're talking about almost two percent We were away from the all-time highs in the Nasdaq 100 jump over to the Dow the Dow this morning makes it up Above thirty six thousand briefly to thirty six thousand ninety eight You're talking about less than one percent away from all-time highs in the Dow and the Russell's positive by 15 points Pretty far away from you talking about ten percent away from all-time highs in the Russell ten percent on the Russell Crew catching a bid this morning up 91 cents at seventy one fifty seven gold catching quite a bid as well We'll jump over to that in a moment. You got gold yesterday, man Watch out down to 1753 gold rose back to 1780 the uptrend continues to 1790 this morning in gold We jump to notes and bonds We're getting a little bit of higher price lower yield the yield on the tenure right now 1.45 percent 1.45 percent not bad in the tenure You're positive by nine ticks right now the third year is negative by nine ticks at one sixty one Fifteen and we jump around let's jump around to some of the fang stocks I talked about it yesterday this in terms of the action yesterday Microsoft my goodness. You're talking about a move man. Yesterday. You're down to three twenty four fifty and just like that We gained ten dollars on the shares of Microsoft quite the volatility to the downside and Microsoft almost gets it all back from Tuesday's action We jump over to Apple shares Apple was up above 181 this morning. I believe the price 182 86 I believe 182 86 Bottom line it makes it to 183 you got a three trillion dollar company in Apple. You're trading at 179 50 this morning That's gonna be up about 20 cents on the open We jump over to Tesla shares this morning Tesla just under a thousand quite the move this thing had yesterday as well down to 928 over a thousand briefly this morning trading at 991 Google shares this morning up as well Google man all of these moves are pretty remarkable gonna jump to Amazon next But Google trades from 2860 almost up a hundred dollars for the highs we had pre-market and Amazon did a hundred dollars I think they had a hundred and fifty bucks yesterday No, almost 200 bucks. Yeah, how about that from 3303? Yeah about a hundred and fifty point run from lows to highs yesterday in Amazon you had a print this morning of 34 93 a hundred and $90 on the price of Amazon from where we were yesterday at 1215 to where you were printing just this morning at 645 when you had the market at highs Now man, this one surprised me First the analysis was hawkish, right? We come over to the headlines fed doubles taper Signals three twenty twenty two hikes in inflation pivot in the market folks trades to all-time highs I found it most interesting the term dovish hawkish Maybe the maybe the fed chairman quite a balancing act when he can actually get called dovish hawkish Which is what some of my friends even we're calling it in the statement the press conference the press conference Excuse me and with the headline numbers in terms of three twenty two twenty twenty two rate hikes When you're talking about dot plots, etc. They're gonna double the taper. They're gonna accelerate that taper I listened to some of the press conference Chairman Powell saying basically When they got that CPI data that was kind of the nail in the coffin that he knew that there was there was a time to accelerate Things at the last meeting. They were really close to actually Increasing the pace of the taper but didn't quite go there waited for more data and man Did they get that data with CPI data coming in at 6.8 percent? But then he also went on to basically signal that they're gonna be in there for the long haul full employment Is probably a long way away that is their mandate full employment and price stability price stability Obviously in a little bit of flux right now But nonetheless pretty remarkable the acceleration there now jumping back to let's just see if we can put it on a five minute to See the the real acceleration because the first move was down at 2 o'clock the statement gets released The first move was down the hawkish tendency causing a little bit of fear in the market And then you just roared higher to the tune of a hundred and forty points above where you were a low of forty six oh two 141 points to be exact one forty one point two five quite a run from lows to highs yesterday And look where it bounces folks right on the lows intraday yesterday About forty six hundred a nice round number and there you accelerate higher in a big way to higher prices you go Gold really accelerating gold's been in struggling for a while yesterday the first time we really get a run in gold 1791 right up to the highs we had a Monday within a dollar of those highs actually 1792 you take a look at gold on a daily it's been chopping around man Bounces on that lower portion of where you might be now you back this up even further on gold You take a look at the full run we had during COVID okay from a low in last March of 1450 up to a high of 2089 seems like gold just finding some support there along that 50 percent retracement number whether it was back in June you bounce August you did get a dive lower briefly before you bounced back in late September early October right around that line And we bounce yet again at about that level of 1770 or about is where gold seems to find a little bit of a bid. We'll see where it goes from here Okay, what else we have going on? Weekly jobless claims 206,000 higher than expected and above pandemic low But man all things considered you're talking about quite a low number The four-week moving average declined to its lowest level since November 15th 1969 so taken a four-week average There's going to be some variance in the numbers you're getting on a weekly basis probably a more accurate reflection if you're taking a Moving average of some degree 206,000 you're talking about low low numbers in this economy 195 was the estimate and a gain of 18,000 from the previous weeks up really revised 188,000 you check it out on a chart though those are declining levels maybe in the last four weeks Reaching a lower level. I mean we are in a healthy economy It's important to remember that you have a churn of somewhere around 200 250,000 jobs on a weekly basis initial jobless claims The argument could be made that you can have less because of the tight labor market because of the amount of people that We're trying to get back into the workforce Maybe we should have less people right now Filing for an initial unemployment claim as we're trying to get those jobs back into the labor force But nonetheless pretty strong numbers and shown by the fact that on a four-week moving average you're talking about 203,750 the lowest level since 1969 And yeah, and let's see where else are we Yeah, weekly claims amazing 6.15 million the numbers during the pandemic continuing claims. There we go Now that's a week behind 1.845 million is the number for continuing claims and you see the trend there lower numbers on a continuing claim basis That is a one-week delay versus the initial claims number. Alright folks. Stay tuned. We'll be coming back We'll talk to our man Kevin Hicks from TD Ameritrade fast market. 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We have the s and p right now up 19 points just off the all-time highs We printed this morning of 47 43 you get the nasdaq up 40 dow up 140 right now Let's jump over to our man. Kevin hanks every trading day folks noon eastern time Kevin hanks tom white the team of tdm merit trade network fast market breaking down the day's market action walking you through hypothetical trade setups Kevin hanks quite a day yesterday in the market for that balancing act for the fed chairman. Good morning Good morning cameo brian. Yep drone pal did it again. He was able to pick up the pace of the taper and still uh Calm the markets by saying that there's even though they have a dot plot that shows 9% or 0.9 percent fed funds at the end of 2022 and 1.6 percent fed funds at the end of 23 He made it clear That is not a committee decision or not a committee plan And so even though dot plots he basically Did what he always does was say dot plots mean nothing So uh, I thought drone pal clearly differentiated between tapering and raising interest rates So and I think that's what the market at the end.  It was awesome It is cool, man. I was driving around. I I was here at 2 o'clock had to jump in the car right at 230 and I was like, this is the best car audio I can have man a fed chairman, uh press conference, right? One thing I found interesting to to speak to what you're kind of speaking to is there was a question To some degree about how you'll go forward etc as they're always trying to find out and he said the chairman said something to the tune of You know, we're looking for an estimation of maybe 4 gdp growth next year and that's what We're predicating maybe these rate Hikes on so if you get you don't get that type of economic action Then maybe we can pull back or not do what we're talking about and I you know just to speed It was pretty remarkable first. It comes out Market goes a little bit lower You talk about maybe some hawkish words in the actual statement during the press conference One of my friends kevin was using the term and I heard it used out there on tv I think last now at some point dovish hawkish talk about a balancing act when you can get called dovish and hawkish As you're putting out there that the rate hikes are accelerating I didn't think it was possible man in terms of the risk versus upside to downside moves And chairman powell gets it done 140 points to the upside just like that from where we are yesterday, man With that in mind kevin we got some stocks going on and you know beyond that the market action We got gold moving today. We have what a surprise Excuse me. I'm losing it. We had a surprise rate Uh, I'm losing it soon. Bay in bank of england surprises with a rate hike out there What are you guys going to be talking about on the show coming up today kevin? Yeah, so nathan peterson's on and we're gonna with tom white and I and we're going to look at square We're going to trade look discuss and trade square Then we're going to look at fed x and then in the in the b-block and then Like folio doing a presentation on that and then the last we'll trade dartin restaurants, which has earnings before the open tomorrow morning Nice. Yeah, pretty interesting Fed x the pullback they've had recently taken a look on the daily chart up to 320 down to 216 You're sitting at about 240. We jump over to the analyze tab. You jump over to the earnings They're looking at about a $14 move priced into the options about a $240 stock Uh, I'm going to jump over to gold real quick kevin because of the move that it is having today You know, uh, my dad. He's a big gold bug out there, of course Uh, but gold interesting action in light of what's going on finally actually catches a bid On the move yesterday. You got any opinions on that gold contract out here? It's been struggling lately, man Sure. I I can talk about gold the same way I can talk about silver Look at the move in silver this morning and that is a direct inverse relationship to this move in the u.s dollar I think that weakness in the dollar has got a bid in gold and a bid in silver this morning. Tommy Yeah, it's interesting how they all relate. I think it was it was something like 20 25 central banks this week alone, man Bank of england ecb our fed chair And we still got kevin a 10 year yield sitting right at about 1.45 percent right where we came into things Which is interesting for the 10 year. We've had some movements on that yield curve though, of course Well, kevin, we look forward to the conversation man. You're talking about few great stocks square fedx We'll look for those earnings estimates and we always enjoy how you break down the conversation break down those hypothetical trades, man Uh, you have a great day. We'll be watching at 12 noon eastern time today kevin Thanks for having me on tommy talk soon Always a pleasure man. Take care folks tune in every trading day 12 noon eastern time kevin hanks tom white They do an outstanding program folks. They really do Uh, I love the market commentary and the hypothetical trade setups the best way to learn options folks Um, even if you're not an options trader Just understanding it to understand the premiums of how options work as an equity trader is something that you should understand But maybe it's something you get into with the small portion of your portfolio In options one of the cool parts of options is that you can trade for pretty affordable numbers I mean in some trades you can put in there your risk in 50 dollars 150 bucks 250 bucks to find risk Which is the coolest part of trading options in my opinion with that in mind We jump over to the vex talk about sucking volatility out of this market There's a drop-off in volatility for you yesterday from 23 47. We dropped to 18 72 18 19 was the overnight low all of that volatility premium sucked into that Out of that market as this market just proceeds to trade higher going to be interesting to see how this open goes Not a lot of weakness out there folks and I would agree With kevin in terms of his assessment, you know, they changed the wording they upped the ante in terms of accelerating the taper But everything is up for grabs Basically, it's how chairman powell put it in my opinion in terms of talking about listen This is all predicated on some pretty rosy scenarios of growth coming forward into the next year Yes, they have to get inflation under control But growth is still there in a big way and that's allowing them to increase the taper and Three rate hikes next year followed by maybe a few more the year after that If we don't get that type of growth on gdp I'm not sure so sure that at least the message chairman powell was putting out Is that yes those rate hikes don't need to come if the economy is not accelerating in the way that he anticipates and the board anticipates Calm the markets a bit after that first pullback on The statement we jump back. I mean that was a short-lived pullback though by the end of the 205 bar You were already higher and by the time chairman powell came on though You can see we were still trading at about 16 26 So you're about five or 10 points aware you were when the statement came out It was all about the press conference man. You charged higher from 230 You closed at basically session highs at about 4700 and overnight you trade to a high print on the futures of 47 43 We're trading right now 47 22 bitcoin a little bit of volatility for bitcoin trading with the market as well Interesting that bitcoin now has such a parallel to the market. I mean look at it Really similar action to the stock market that bitcoin is trading with the market 48,805 this morning You're down 545 bucks technically on the session Natural gas talk about some volatility putting this thing on a daily been quite a pullback Finally looks to be chopping around in an area just under four bucks of 387 for natural gas There's your gold contract up 24 bucks 17 88. We put it on the five minute slight pullback from above 17 90 And as we mentioned notes and bonds We're continuing a little bit of higher price right now. We get the yield in the 10 year 1.45 percent All right, folks. Stay tuned. I'll be back in three minutes for the open We got the s and p's coming into that open up 22 points. You got the nasdaq 100 up 40 We got apple shares going to open at 179 25 You're talking about about three dollars and 50 cents away from all-time highs Microsoft on a tear yesterday up almost 10 bucks microsoft going to open higher yet again by about a dollar Stay tuned folks. 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We got markets open. We got the s&p app 20 points nasdaq 100 up about 33 dow up about 164 Let's jump around to some of those fang stocks amazon shares opening up about two tenths percent right now today Microsoft up four tenths. We jumped to the big dog apple apple actually in the red Blasphemy apple in the red down two tenths percent at 179. We jumped to tesla shares up 1.5 percent as mr Elong must continues to sell his shares. We jumped to gold right now up 24 dollars. All right jump it around to what else we have Pulling up the headlines. So just touching on it briefly bank of england surprises with first hike in crisis to curb inflation Follows a hawkish fed move as we've talked about most economists anticipated no change from the bank of england But nonetheless, they have a hike over in england Of course, you have the british pound us dollar moving on that news out there Always interesting when you get a little bit of a surprise and looks like they're a little bit worried about inflation The bank of england hikes rates with price gains at highest in a decade how used in a decade Come on in the u.s. We're breaking records for like 50 years out there But nonetheless, that's where they go over in england Okay jumping around to uh stocks. We got moving here delta forecast profit ahead as travel demand and fairs rise Despite omicron. Yeah, I think I heard for the first time in november. Maybe we had we're above 2019 levels in terms of travel. I think I heard that recently. I'm not sure if they have them here Let's see Business travel volume is about 60 percent of 2019 and the like will likely will stay in that range in the next couple of months Small business travel demand about 75 percent of pre-pandemic levels. Yeah retail travel is up But business travel never going back to where it were We'll jump over to delta in a moment. They are higher on this Fourth quarter revenue will likely commit at 26 percent below 2019 levels when it had 11.44 billion They expect a pre-tax profit of about 200 million for the last three months of the year We'll jump over to delta shares and these airlines have pulled them up yesterday They have been pummeled man, but maybe yesterday was a max paying situation. You're up 2.5 right now We pull up delta on the daily Yeah, be careful of this one, man You're bumping up against any time you have an area folks that was support, which is about about 38 39 dollars had been an area of support for delta You can see that it's already been an area of resistance once for delta going back to about eight days ago As we come into that level potentially facing some resistance as well. We jump over to united I imagine all the airlines are higher. Yeah, united's up about 1.5 right now We jump to american up 1.4 domestically jet blue airlines Up barely up eight tenths percent southwest airlines up about eight tenths percent as well We jump to the cruise ships talk about a max paying situation for cruise ships Barely positive for carnival with the market right now in norwegian actually in the red by about one percent so far this morning Okay jumping around to other stocks. We have going on making moves this morning. We talked about delta We'll jump past Accenture Regeneron Declining in the pre-market after it said its antibody cocktail loses potency against the omicron variant Regeneron did say the cocktail is effective against the delta variant regn constant updates, of course Still sitting right near all-time. I believe that's all-time highs, right? Ah pretty close remarkable how you got a triple top up there right where we're sitting at about 660 for Regeneron shares from the middle last year We make above that level in september right back at that level right now for Regeneron Yeah, linar out with their numbers 391 a share they missed the 415 estimate revenue also fell short of forecast hurt by higher lumber costs as well as increased labor cost and shortages of raw materials Dissulted and delayed home deliveries. I chuckle because that's like the trifecta, right higher input costs for for Goods higher input costs for labor and shortage of materials for supply chain issues Now here's the though the worrisome part about this that's going to be the truth from many companies Linar down 4.2 percent not that bad of a move considering where this equity has been We'll zoom in just on the last couple years you come into 2020 at about 77 bucks You were just trading at 117 all things consider though not bad sitting at 108 Uh They're probably dealing with some real issues in the housing market lumber costs. We've just seen it supply issues. My dad's talked about Getting things from china. He was just talking about on this program last night What a container costs when you're just renting it. I think he was paying 1750 as in $1750 pre-pandemic levels Then it was up to like $12,000 or something like that the email he got Yesterday or this week is up to like $19,000 for a container Uh That's just uh quite a price increase folks from under 2000 to almost $20,000 for a container and that's if you can get it here Let alone the delays you have linar down 4.1 percent. You're going to see a lot of companies though talk about Being an executive you almost have a get out of jail free card If you can spin it off on the public that if bad things are happening, of course, you're going to be Blaming it on basically rising costs of goods Uh, you're going to be blaming it on supply chain issues rising wages Etc to herd earnings, uh, that's going to be the theme It's your job as an investor and a trader to sort through when that's actual the reality and when some companies are faltering beyond The issues that other companies are having linar not that bad of a move Uh, Novartis new share buyback program They would be trading higher on that news visa announcing that it added 12 billion dollars in its buyback program Be careful folks when anyone of these companies just start trading higher by doing buybacks You got to be careful, but visa trading higher on that news as well. We'll jump over to visa shares Let's put it back to a short term time frame Was up much higher giving it back up about seven tenths percent right now for visa shares Yeah, AT&T upgraded Ed Morgan Stanley to overway from equal rate the recent slide in the stock creates an attractive risk reward profile The firm said there are several other key factors driving the upgrade Pending completion of the warner media discovery merger AT&T is positive on that but boy these these stocks man AT&T Well, there's a nice pop for you up 4.1 percent and maybe this is the low because man It's been searching for a low for the better part of seven months.  Here's what to consider though as a company like AT&T You start talking about the dividend, okay, you jump over the fundamentals tab You slide down and we're talking about, uh A dividend yield of 7.7 percent right now 7.7 for the dividend yield for this company, let alone a price appreciation on top of it Not bad when you have the 10-year yield sitting at 1.4 percent. Yes, you were subject To a possible decline in the share price, but man, you've been pummeled. I mean, what are we talking about? We're talking about a company now valued at 165 billion dollars for AT&T Verizon I'm biased my mom worked for Verizon. She has some Verizon shares still out of retirement But Verizon you're dealing with some yields as well. We'll pull up there Excuse me their chart in a moment But Verizon's talking about a dividend yield of 4.67 percent right now And you take a look at Verizon been quite a pullback as well Nothing to the degree long term that you're dealing with for the AT&T But Verizon on a five-year weekly, let's back it up even further for the monthly now Verizon It'll be interesting to see if this holds in terms of the uptrend We're back to Verizon in terms of where we were trading at basically in 2013 But when you're getting 4.6 percent on the dividend not bad in the rate environment that we're in Dividend stocks, especially maybe appealing, uh, if you're looking for fixed income I was reading recently, you know the the basic theory of a 60 40 split in your portfolio 60 percent equities 40% bonds Might not be the case going forward that that's the best case scenario a lot of uh investors saying maybe you add some dividend stocks in there through uh, because boy when you're investing 40 percent of your portfolio and fixed income at a level of the 10 year at 1.4 percent That might not be a recipe of uh maxing gains out Stay tuned folks. We got the s and p's up by 10. Nasdaq actually in the red now. We'll be right back Are you in the market for buying or selling real estate in the bay area? Including the surrounding st. 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We got the smps giving back some of those gains now positive by just six points Interesting that we drop off on the open right now. You get the nasdaq giving it back as well nasdaq 100 negative 60 points Trading at 16,225. There's a little bit of drop off for you now below the close We had yesterday in the red you get the dow up 107 the rustle up three Maybe the market actually adapting to the fact that the fed chairman Told the market that we were hiking rates faster than they thought Yesterday, uh, which was a hawkish statement thought that would hit maybe some of the tech stocks Maybe hitting a little bit today, uh in the negative down four tenths. Let's jump around some of those fang stocks apple Though still in the up nope still in the red, uh, excuse me now in the red was up to 181 Man apple these tech stocks the volatility that they've had recently I mean look at the open up to 181 and just like that We give back more than two dollars on apple shares you jump to microsoft shares Pretty similar action back into the red by two tenths amazon shares similar as well negative by about five tenths We jump over to fed x they have their earnings coming out tonight ahead of that you have fed x up about a tenth percent Now chatting with our man kevin hanks Ahead of fast market coming up at noon, uh, they're going to be talking about square Yeah, square it out with earnings, uh After the bell they will just be discussing though fed x though the one they are out with their numbers after the bell tonight You got about a 16 dollar move priced into their earnings after the bell All right, as I mentioned it this story out, uh, yesterday But it was talking about bitcoin traders have to be fed watchers just like everyone else now interestingly you have bitcoin I brought it up when we're looking at the charts bitcoin talk about volatility with the market You see the volatility it spikes lower on that fed statement that comes out You accelerate higher in a big way really pushed by the fed chairman's conference you traded up 1500 bucks So from when the chairman started talking at about 230 to where the market finished it for and again interesting They look at the low volatility that bitcoin has overnight Okay, and things of course pick back up when that's futures open But bitcoin does trade overnight, uh in many different markets. It's a worldwide instrument, of course Uh, but interesting you have bitcoin now trading with the market Didn't think that would be the case for the longest time. Uh, that would indicate it's becoming a real market asset class In its own right All right folks speaking of asset classes. How about tiger dollars? That's a good segue for you our tfnn holiday tiger dollar sale folks You got one week left. It's amazing Uh, that we wrap things up december 23rd, which is thursday the market closed for the full day on christmas eve this year because christmas falls on a saturday We're running the tfnn holiday tiger dollar sale through next thursday That's one week from today folks. We've doubled the bonuses So now you can get a 20 30 or a 40 bonus to spending on depending on what you spend We've had some great tiger dollar purchases coming in already folks fear current subscriber out there We had a subscriber out there this morning. Uh, he was a subscriber to basal chapman's opening call Okay, so what he has is he has the opening call at 149 a month what he decides to do He signs up he pays 500 he gets 600 tiger dollars He then changes his subscription from a month to a six month. He locks that in He'll end up paying an additional whatever you can always those 600 tiger dollars get used first anything extra can go to your credit card Folks, but you apply them once to your account. They're automatically used He decided to change from a monthly to a six month used his tiger dollars for that six month He's going to be all set for the opening call for the next six months If you're a new subscriber folks a current subscriber the new system We've been on Shopify now. That's a good segue to Shopify Shopify got an upgrade out there as well They're positive this morning. Uh, the tfnn website does run through Shopify. We use that platform We've used them for about three years, which is remarkable because man I was looking at the Shopify chart just yesterday Shopify up 2.3. They get an upgrade this morning, but I was just looking at it yesterday Shopify when tfnn came on that platform trained at about 117 dollars folks talk about an acceleration for this company We weren't the only ones signing up through Shopify. Now their business really accelerated during the pandemic small businesses like tfnn ourselves Take an advantage of the ability to build their own Storefront within the Shopify platform now for what we do subscriptions tiger tv special access to tigers den etc There is some level of programming that needs to be done Because of the cancellation process and everything involved with the subscription based platform like we have But if you're selling very simple items on Shopify, you don't need any programming at all folks It is an outstanding platform in a big way. They're up about 2.2 percent Uh, but getting back to tiger doll is the great thing about joining them Is that tiger dolls automatically used now folks you apply them once they're automatically used So encourage you to check it out. It's going to be the end of this sale before you know it Don't wait till next week as you're shopping for those last holiday presents Get in there get your tiger dolls while that sale is doubled For the next week. That's all all right jumping around to other news. How about music? How about bruce springsteen? How about half a billion dollars not bad man these music catalogs watch out So the rights of his music to sony music entertainment could be the biggest deal ever struck for a single artist's work Uh, the price tag may exceed 500 million said billboard citing people familiar with the term Um, now he has been I think with sony. I saw in here something like that for a while Yeah, but you have bob dillon selling his that number was not Released I believe the dillon one how much he got paid Uh, springsteen's been with columbia records a unit of sony For his entire career. So now sony buys that catalog off him public invest Announcement yet to be made but nonetheless 500 million bucks not bad for bruce springsteen cashing in there in a big way Okay, what else we have jumping around mcdonald's They claw back speaking of hundreds of millions 105 million bucks to settle the lawsuit Their ceo was ousted over relationships with subordinates Uh former ceo to return the cash equity awards and issued an apology 105 million bucks They went after that money and uh, they probably deserved it. Um, because he wasn't doing the things He was supposed to do mcdonald's had a very very clear policy when it came to bosses Um with subordinates and that's the thing folks you can complain about the stuff But I have no sympathy for somebody rounding a company like that when they have exact Details put into place that they know they're breaking Um and breaking that detail man, it cost this guy and he had done quite a job with mcdonald's too Which is a bummer on top of it now mcdonald's has done just fine since he's been gone. I'm not sure when's he went To 2019 he was gone. So sometime back in 2019. Maybe that was the drop off there probably when they found that out McDonald's was a 208 since then stocks up almost 30 percent in about two years Uh during the pandemic you're pushing all time highs on mcdonald's now We have some mcdonald's in my newsletter folks rocket equities and options I am going to have an update out for subscribers later this afternoon if you'd like to sign up You can check it out on the front page go over get some tiger dollars first folks get your tiger dollars applying to your account It's very simple to do you apply into your account once they get used for all future transactions Check out my newsletter rocket equities. Maybe you check out the gold report my dad's newsletter Um that's been rocking now when you sign up with tiger dollars folks You still get a 30 day money back guarantee. Okay, you're not happy We'll refund those tiger dollars right back to your account You can use them for another forward transaction going forward mcdonald's up six tenth percent. They're getting back 105 million dollars Um That they claw back from that lawsuit that let mcdonald's uh, yeah go after some of that pay Um for what he had been doing against what they were supposed to be doing Not the example you want to be setting in that position in that role. All right folks stay tuned We got three minutes left uh of the program. I'm going to come in back We'll be talking a little bit of markets talking about what else we have moving today Tech stocks in the red only index in the red right now bitcoin in the red as well. Stay tuned folks. I'll be right back Sharpening your skills as an investor is like getting better at playing a musical instrument You have to practice sure, but you also need excellent instruction from experts at tfnn You'll get advice and guidance from the authority and technical market analysis And it's not just dry tedious text either tfnn airs live financial content streamed live on tfnn.com and tfnn's youtube channel with tiger tv Live every market day from 8 30 a.m. To 4 p.m. Eastern or free Each host is an experienced trader and gives their take on the market while taking calls and questions live from around the world From the moment the market opens until the closing bell sounds tiger tv has eight different shows with expert hosts To help you make the right moves with your money watch online at tfnn.com or on tfnn's youtube channel And become the investor you were born to be tfnn educating investors You might think that if you want to be successful at trading in the stock market You're going to need a crystal ball after all it's impossible to predict the future, right? 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That's<PHONE_NUMBER> This segment is brought to you by thinkorswim For more information just click the thinkorswim banner on the front page of tfnn.com Welcome back folks. We get the s&p's right now negative by 10 points putting it on a one minute chart to see a little bit of Volatility you did trade higher from about 943 Not small moves here. You're talking about a 12 point pop in the s&p to the upside We give up 10 points just like that right now. You're positive by 12 points in the s&p's Nasdaq though giving it up back to a five minute just to see the context of yesterday's move Nasdaq we're talking about 220 points. We are off of the highs folks These moves pretty dramatic right now in both directions We get the vicks spiking back up to 19 from being at 18 19 early in this market As our man basil Chapman would say folks he's coming up next with the tiger technicians hour the day is young It sure is we're 25 minutes into the start of trading right now And you have the s&p. I mean folks we were up you're talking about 30 points now From where we were just trading at seven in the morning I was up early this morning about five in the morning getting some action done And man nothing nothing just to To let pass you by as in that is quite a move folks 30 points Uh, we touch all time highs and then we give it up just like that the dow holding on well though Dow up about a half a percent right at about 36 000 right now We jump over to that gold contract gold continuing to make new highs right now You get the gold contract up almost 30 bucks I say new highs as in session highs gold up 30 bucks up 1.6 percent. We take a look at the daily on gold And boy, I mean you rather you got some areas you got to break above Maybe 18 35 is the next area that you could see some resistance That's an area that we reached in september also in july late july and early july before trading lower But that's quite a move on gold and you're talking about from yesterday's low of 17 53 gold now adding 40 dollars 40 dollars to the price of that gold contract up 30 bucks this morning and watch out folks these markets They're not stopping s&p's now just up single digits the nasdaq 100 you're talking about 16 205 You've given up 250 points in the highs and folks That's a lot of red bars to start the trading day always exciting when you got a two-way market folks And man do we have a two-way market when you trade up you're talking about 140 points to the upside yesterday And just like that in the last two hours we're down about 35 points in the s&p's Thanks so much for starting your trading day with me folks. Stay tuned We've got basil up next larry live at 11 bass market at 12 Steve Rhodes Dave white tom o'brien this afternoon.  We'll be right back folks. Have a great thursday


I am very happy to be here and they have allowed me to share this and it is very, very difficult to discuss together the way of taking news, which is possibly within our tapestries. Any one of us has made things up, taking news is something that we cannot format, but finally we are glad. There are a bunch of digital platforms that are coming out to detect taking news, as media personnel, like all of us here who are from this magazine media, to correct ourselves before we put anything out there. So authenticity of the news, that's a long-standing debate around problems that have been around, that we can't really come back, but I think our panelists here would be able to tell us how exactly do we detect taking news in this day and age. In fact, news itself, in the larger sense, any possible news that we give out there, usually is amplified enough for it to either be called safe or credible. So how do you really differentiate, how do you differentiate between what's safe and what's exaggerated and what's real? What's credible.  Surya is Malik, Surya Malik is a program director moving to Sri Sri State and the GFKD network. Thank you so much, Surya. We also have a population Shukla, who is senior journalist, I'm going by the order of people. We also have Pratish Ranjan, who is a senior editor in Jhagran News Media and Dishwas News. We have Deniz Karne, who also is a content head and editor and Amar Jhalla Digital. We also have Mukesh Sharma, who is an editor with the history news history. And we also have Subhash Krishna, who runs the fake news muster team in India today. So in the media channels now finally have a section where you must fake news. So before putting news out there, usually media, now we should execute fake news, muster team. So that's very incredible. And we don't sound like rumors. I like it often. All right. So let's go ahead. Surya, why don't you tell us how do you really detect fake news? First of all, identify it as a crime news. It's a problem. Well, I think it isn't like a rocket science to sit back from fiction. There's a whole field of misinformation, you know, on different platforms that you access to gather news now. But like taking a moment to go back, you know, run through some basics checks, which we all are just laughing at myself for about a decade before I moved to this role, now taking back these daily efforts on verification. So it's not very difficult. It just takes about a couple of minutes of the time. If you take a break, you look back at what you have done then through your sound checks, and you will be able to find out what's the best. But you know what's difficult in this area when you're trying to be the first to put your news out there. So in that rush, in that rush, you usually put up not-so-credible news. So then how do you work it out? Well, again, you know, it takes credibility at stake. And when you do really know the repercussions that you end up putting in a wrong picture, or a wrong video on air, or online, or you know, publish that in your print, the repercussions that come your way. So to save yourself that, it's totally worth the one or two minutes or maybe a little time, a little time more that you report to Verify. Back now, again, sex is not a problem at all. I've had a lot of different people in different media, where we just went back to basics because I'm through, you know, a lot of friends and techniques are available, which a lot of international faculty have come on, where education was using, and we've been able to see what's going on. A lot of the funders here don't know how faculty and missionaries should come out after you, but I see that we do a fairly good job, you know, so we're also just going to do this together. But our media channels, especially television media, since I came from television, using Jimmy O'Clyde, which one was like you, because like I said, we're often running out there, on TV, getting used wherever we're going to sit up first is a better problem. That's the sounds I believe, you know, barely ever anybody takes that. That's the step up. It's a change. If you'd asked me this question about two years ago, I've been saying yes, if you've driven in samples, you've been reversing a lot of wrong views coming from your Netflix button. And now I'm very happy to say that New York Times, and I'm lucky to work with a lot of them in India, two financial useful investment of mine, two part-pervading sub-show programs, and then they're seeing results on top of them. They're also able to come up with particular verifying views, and, you know, totally do the right thing. All right, but I just want to know how do you really detect it? I think it's probably because I've been working with others, but I do have a faculty who's checking cell immediately, which is great, and you all know each other.  The first step is to identify what is a fake news, because fake news is such a generic term that so many things can be used for so many different kinds of news. Sometimes, a fake news is expected. So the first step is to differentiate whether something is a fact or something is an opinion. There is no harm in somebody's opinion. You might not agree to that opinion, but it is not a fake news. It might be somebody's opinion. The second thing is that there are different scenarios in which something which might be right in one context is put up in a different context, which totally alters the meaning. There are pictures from one place being used, like the Kodama incident, and you can see the media is connected with wrong pictures, which are pictures of some incidents, which happen somewhere back, and something else may be wrong. So the second thing is that there are different scenarios in which something which might be right in one context is being projected as it happened in the past. So what they do is that there is a general training, there is a fact check desk, which dedicatedly works for the fake news buses, and then there is a general training across the media to the news channel, where everybody is trained to look, to filter, to think over it, rather than whatever comes passing on to the air, and then there is a filter that if something looks suspicious, then apply your mind, if it looks something which is important, but suspicious, pass it on to the fact check team so that they can verify, and there is a clear reconstruction that if something looks suspicious, it will not hold air till the time it is right. Something looks suspicious, like how do you really know if that is, you know, what is the criteria that you really follow, that people know that you simply follow and this does not have this particular, you know, point there, it doesn't have a check there, because most people believe that the fake news is mostly on social media platforms, that is what really changes it, right? Most media channels pick up whatever is standing on social media and put it up as their main source, right? So, that there more, like how do you, what are your suggestions? Very good to share, that is a challenge that we have faced because the first step is to identify which is who is the source of this news, because something is very important and looks very sensational, then even the reporters are there who has passed it on to you. Are you confident about the source? If something is, somebody might have given you something saying that this is exclusive, but it might be cold, it might be a plan, so reporters have this to check, cross check, and at times if the news is very important, then they also cross check, ask somebody else to work on it, find out whether it is true or not. And then if you just have to, are the only reporters in their confidence that this might not be true, this must not be true, but we trust our reporters a hundred percent. Because everybody nowadays who has a mobile phone in his hand is a reporter, there is no doubt of their performance, but what differentiates between media organization and somebody else on social media is that there is accountability, there is a preparation to protect the credibility. That may be correct, may not be correct. So that is where the role comes for the media organization to check, apply credit cards. We should be a little more conscious, but for example what happened really just a few months ago, when this man was leached to debt, a bunch of them around Shivajnagar area, assumed that the man was a kidnapper, because there was some fake news about how there were two people which are trying to kidnap children in the city, and people assumed that he was a kidnapper and because he did not know the language he was from Rajasthan, he would not speak Canada, they agreed to debt and by the end of the day he was gone, so he managed to get repercussions, life changing repercussions that fake news had. So what if it turns a digital space, I think for print particularly, you have more space and time to be more active. I think that this discussion is very important. If you do not know this then I will tell you in detail. I do not know much but I will take a look. But we have a good evidence that we have come to know what happened in our addition area. In addition area, there is a lot of news about the situation, where the report is from from year to year, as I just told you, there is a lot of news about the situation in India and we have come to know about the situation in India. Please do not worry about it. The problem is that this news is from the beginning and some people have never answered the news and if it is made by mistake then there is a lot of news that is over. There are no more news and the answer is not there. The other problem that they had told us in India that we are talking about the big banner of BBC, Jharkhand, Google, we are facing a problem when we are spreading the news through these people and when the report is made we will know what is the problem. One minute we will talk about it in the JNM Junior Conference where we were asked why the problem is there. Why the problem is that what is the problem that you think mobile is the reason for the report. So as soon as all the components are not doctors the problem will be there. So the answer is that the problem will be there. The reason for sharing is that the problem is there. And we have to think when the problem is there in our newsroom and the problem will be there then who will see the problem. So sir, how we are dealing with people in power, active people in power themselves endorse a thing.  And she endorse it and many came down to apologize. Many of them are unapologizing. They don't even apologize. It has been happening in this society for long but why do we become addicted to what is happening if we get trapped and it is bound to happen. If we are trapped then it will happen. One is that you want to hide and you have a society that works well and the society won't be able to move forward. I will tell you in the second part from where it happened. Most of the social media on whatsapp, facebook and all other news have been leaked because the answers in the society started to spread and the truth started to spread. Some people thought what is happening on whatsapp and facebook was the truth. But the truth is it is more than what is happening in the society. If we do our job then it won't happen. What are your apologies to the survivors? Are you apologizing when you put out something that you see in your channel's door? No, definitely we should see. The rise of internet has actually opened up 38 companies. The brutal growth of social media in India has actually created a big problem for the internet city across the world. So that's a big problem. The answer is in one word. Very simple. The answer is verification. Are you guys verifying on your website? If you are doing it you are sorted. That's a problem. Actually if you are asked to verify then how do we verify? That's a problem. We don't detect fake news. What we do is do fact check. I don't care when conversation is coming from anywhere everywhere. My job is to do the fact check. I don't care. I don't take that. So that's a problem. The rise of social media we can't blame for social media platforms. So blame social media users. So you cannot blame technology. You blame the users. So how do you really weed out news at stake because it might be happening in some remote corner area where you won't even have access to it. Some stringers give you that information. So getting to that remote area and finding out whether it's true or false is enough. We will try our every possible channel to verify that. If we can't do, we are not as exposed to media process I cannot ask my team to go ahead with that. So whatever you need. It's possible to verify and verify it's not related to our role. But like every media there is a choice that is asked in India's first portal for dedicated fax check. So what we do there is we have a team here. We all are satisfied fax check thanks to Google and its project that we had last year. So in our team there are two who are satisfied fax check and our legal team actually went to the fax check training and we trained the entire industry the entire and he decided to launch a portal. So how do you sensitize the media? What do you say? I as a journalist have a reporter and I am for myself. I know very well what sources to bank on who are involved in the industry so when we verify with multiple different other reporters we should do it. So is that how you sensitize them or are there actual digital platforms that you are going to subscribe to for them to verify? Definitely. Like you go for any business that you want to adopt you always go for a second part. Like here also you verify and read very tight. You cross check it and double check it. So what has changed is that the entire industry how we now gather news create news and also consume news that is something we need to please tell us each one of us from there if we had that now we would not get this news from your regular sources they would have picked it from anywhere out there. So with conditions our mind we just see if it is a piece of information with a headline some text along that it would be a source just about someone sending it to you usually would say hey Michael send it to me and because he seems a kind of person because of which you are reading this news that is something we need to please so it is with change condition ourselves please tell that now we get news from different sources so we can apply the same technology to now verify where we are getting that information from. So back to some tools which are easy to go on you know there are some tech innovators coming up to say can we help you verify if you are very easy essentially what you do is go back and check the source go back and check again the same 5 Ws and 1s what you know but in the digital world so it is just a little more you know so technology has created that technology can give you this you just have to adapt it and be open to adapt it to your generation it is still pure yet what you do is check is whatever is going on in the digital world but what happened on ground that is always the I mean you can't like someone one of you giving example you know to our attack where how many of them is that he died he is channeling giving you a different number I should be one number if you don't have a full name then the name you have to know is channeling giving you a different number but the thing is that the statement in the bus is the whole thing is the assumption is you can think wrong then you can think wrong I will think wrong I will think wrong I will think wrong I will think wrong I will think wrong I will think wrong I will think wrong I will think wrong I will think wrong I will think wrong I will think wrong I will think wrong I will think wrong I will think wrong I will think wrong I will think wrong I will think wrong How would you feel in the world? See, what happened to you? When I joined, when I joined, I was very lucky. I went to one full month of training. That was the best thing that the audience should be able to do. And the basic lessons which were taught to us was, we are not in the ways of being taught. We are always in the ways that people can do. We see the same, you know, recognised as a criminal leader, only because we do not rush. Even if there is a bus accelerator, one of the sources says there are 10 deaths, and the other one says, oh, really, okay, you know, I dropped on a sensational approach and saying 10 people have died and if I am, you know, tomorrow, as a manager, I have to get back into the trap and say, oh, sorry, let me phone you tonight. That's my mistake. Well, as the head of the organisation, I would not be very comfortable. So, you know, you have to also train your judgments.  This is only the case being the number one or the credit leader. When you are credit leader, it's again important and important. You are going for credit, and I think probably you will be recognised as the number one channel. But if you just break it in, everyone will continue 20 seconds for everyone with big revenues. And you think everyone has time to see you do it first. No one cares about it. Any views, you can go to your channel and watch them all. So, you can take, you can share, you can subscribe. And what has to change, you know, the same views. News, it has to be true, right? But I think the people who have used the media channels are victimising your audience. But, ideally, the media channels are also victims to this. They are the ones who are actually victims to big years. We can play. You see, like, whatever the initiatives are happening, you know, the media channels are fine. So, if it's last year, what is trending on the news channels, right? They are not saying that. They are not saying that. It's what they are reporting. They are reporting fake news. They are reporting trending on the news. But it's right or wrong.  I don't believe it. But I don't need to release it. It's more dead. Or would you release the part of it that you believe is true, only that much? Definitely. There is nothing like that at all. If you have doubt, if you have a say that it's more of a doubt, you know, you have no need to do this. I need to say it. But now, you know, nobody is reporting fake news from the other way. We are looking to try to do this. We are looking to try to do this from the other way. I'm here. I'm here. But if you think about it for the first time, I'm going to leave this. I'm not going to leave this. I'm going to leave this. This is a big lie. I'm in this. I'm in this. You know, our educational system is really, really bad. We want to stop this. We're not going to stop this. So one month is basically presumptuous. You can also be quite honest. I am an interesting example. I am talking about the job-advances. For example, I was doing Facebook Live, but I didn't want to talk about it. And I thought that I would have to do a lot of good things on Facebook Live, and that I would have to do a lot of good things. And I saw that it was on Facebook Live, and it was on the 45th. So I told them that it was on the 45th. I told them that if there was a impulse, they would sell two hundred thousand. I told them that if there was an impulse, they would open the car. So I didn't even know how many moment it would take. I told them that it was so scary, because that impulse was so much. I had to take at least that much of the impulse. If they said two hundred thousand, they would have taken it. I couldn't take that much. Well, it was an honest lie. It was the 75th. And I think part of the party is also taking on this, right? And you think you report against another party, they will claim it to be fake news.  That's a big point because when we're talking about the topic, there's also a section that says it's responsible. We also need to talk about the responsibilities. Normally, there are factories. We reported on it, there are factories which are running great news, who have got their agenda. It happens when your thinking or your belief matches the agenda and you start believing in it and you start having to think in all you can believe and forward it, that's when it all starts. When we did the research last year, what we found out, it was qualitative research.  If, you know, if you're getting a foreign message from their relative or someone who has some influence, people do not even, you know, think twice before just forwarding it. If they've seen that there's a shock factor, they immediately forward it. Now, they do not want to cross check because someone from authority has forwarded it, so they will also forward it. And the next thing we saw, you know, I mean, what's the case with this teacher of, okay, we'll respect the forward, and if there's a forward message, we'll see that there's a forward. But, I mean, how do we actually care about that forward reading under the message? People are not, that's what our research also said. People are not, whether the changes of forwarded message is equal to false. No, it has come from my own. It can come from, you know, one of the real people whom I own, whom I trust, I'll just forward it. Luckily, in the last social media platforms have making initiatives. Like WhatsApp has now limited its forward and limited it to just five users. You don't sell it bit better than the others. I like what they said, that there are certain kinds of fake news that we want to believe. I mean this is a challenge that we face because as this happens mostly in case of political news because I am a BJP supporter somebody sends me a news, a fact check news which is against BJP so I think no this is fake news. So if I am a Congress supporter I do want to believe that whatever is against Congress is right and whatever is a perception, so a confirmation bias is there. So then this is also a challenge that we face every day, most in cases of political news that people tend to believe they have a certain inclination for believing something which matches to their lighting, to their ideology and if you think that this is, if anything, any views, how general it is, if it goes against their belief or their ideology then I think no this is fake, I shouldn't believe this. But the other side, this is also a challenge that we face. Absolutely, I think it all comes down to you said who is responsible and then once you find who is responsible, what is the punishment? There should be some implications to those setting the rules. What kind of punishment? Can you do that? Before punishment, you should not believe others that can't believe you. So how could you say that I think you can't believe that you know, that's the question but if you will be tied by this, then you know a full running website minus time. It's very easy to start a website you know and just very small amount of people like 1,500, 1,500, 1,500, 1,500, you know to start a new site and start up the content and putting out a website and then you will look up on a piece of paper and you will look up a whole page and you know a website, there is no regulation. See that all the traditional new channels or media, they have some non-vehicle, they have some procedures, everything should have time but if you want to start a website you can start anyway and there is no regulation. Do some kind of regulation. Do some kind of regulation. But there is no regulation. I am just saying I am not any government but it is helpful the government to expect action with the victims and the government. There is no regulation. I will give you an example. You have said that in 1400 people don't register and the website opens. But now you are seeing half of the people who don't register. All the big websites are closed. All the big websites are closed. All the big websites are closed. There is a difference. There should be a sense of opportunity. I think our social media platforms now like your Facebook and Twitter are reporting people putting out fake news there. So that's a good recognition for us yet. So any more points that you want to add before I get tossed over to our audience there. Any more people who have questions here on fake news? I have no questions. I have no points but one written to the whole audience. Please do not forward blindly. Let's start from here. Please do not forward any message blindly. If you do not believe or you do not have any surety about the message, please hold on to it. We have not been out of all that we've been doing in the last two years. The media has seen so much. We have seen so many things in the last two years. We have seen so many things in the last two years. We have seen so many things in the last two years. That's what we need to learn each month first. We take that as a joint. We do not have to do more than that. You can do more than that because Google is healthy. Because the moment you do that, the fact that the story is correct will continue. Google and their surety are different. In fact, it is true that they are marked by correct operations. You don't need to say that they are part of your story. But I would say that Google is the safest thing to do. There are many tools now. I think you have to do that because that's what we need to do. So this is our last project verified. It will take us a lot of time.


Hefyd ymydd o'r gwahodd hon sydd y teulu i fi'r duodd o'r gweithredig yw'r gwahodd byddai iawn diwrnod yn ddefnyddio i'r ffordd ar y cyfrif, yn y gyfer hefyd i'r Bandwys. Yr pethau'r gweithredig yr ystyried cyrraedd y byddai iawn yr ystyried gyfrif i wath yn Lerwych â'r segund ar feirio gwahodd, ar gyfer hefyd ar gyfer hefyd ni, ar gyfer hefyd y cyfrif gyfrif, d灾 regrets y flin, a fyddwn yn mae'r hawleredd mewn parysur, hamdodd wrth where Mor signolióa tamag y gwbi NSP. Tad Max will datblygu o'r ddalun cy例hion wrth eich tref장 iaf hynna i'r ffau Shelgor a Gwair frodd, nid oes na wneud am McLif 성 i mae wedi gwrthwil yn y tir argyffref i gerch featuredd wedi'u unigio'i trniadau, gweithre industria sy'n hawl à cymdeilog若 maeilad hyn y ladw i. yn y dysgwnt ymgyrchyniadol yn 40%-50% gyda y start y 2016. Mae cyfnodol yn y ffrindiau roedd o unrhyw o'r mwyloedd ymgyrch yn ei ddweud. Mike MacKenzie. I want to thank the cabinet secretary for that answer. Does he agree with me that the plans for a forthcoming Ireland Act offer a very significant opportunity for all of Scotland's island communities and offers the hope of ending the regional disadvantage that they have suffered for generations? The establishment of the working group led by a minister with responsibility for the islands has demonstrated, I think, the Scottish Government's strong commitment to tackling the challenges that Mike Mackenzie has just highlighted. The work of the group has taken forward since 2013 has included focusing on listening to the island councils and their communities and working with them in partnership to identify opportunities to support economic growth, job creation and improving services and connectivity. The Government's consultation seeks views on provisions for a future islands bill that was undertaken towards the end of last year. That consultation received over 190 responses. All the views expressed will help to inform the future development of a draft islands bill, and such a bill will be a key way of drawing together the various workstreams of the ministerial group and channeling our focus to ensure that we provide real change for our island communities with lasting benefits for generations to come. The cabinet secretary will be aware that all the island councils want the full management powers over the sea bed to devolve to those areas that are most affected and preferably without any delay. Does the Government support that position? There are a number of provisions that are still the subject of discussion in terms of the proposed Scotland Act, so those are discussions not just between the Scottish Government and the island councils that are mentioned by Tavish Scott but also with the UK Government. We have to await the final conclusions of that before we can say that we will further take on those powers to devolve them where possible to island communities. That issue is still in question, to some extent. Of course, the process of the Crown Estates assets being transferred to the Scottish Government has not been a straightforward one. There still remains disagreement between the two Governments, but I am happy to keep Tavish Scott updated or ensure that Derek Mackay, the Minister for the Islands, keeps Tavish Scott updated on the progress on that issue. 2. Jackson Carlaw To ask the Scottish Government when it will make a final decision on a deposit return scheme for beverage containers. I announced on 30 December the further work that would be undertaken following Zero Waste Scotland's call for evidence to consider the important issues that were raised in that call for evidence. Those issues include the implications for small stores, cost retailers and changes in customer behaviour where a deposit return scheme has been in place. Jackson Carlaw I thank the cabinet secretary for that response. Reports suggest that the proposed bottle tax could cost consumers £155 million a year—£65 per household, or if I were to express it in terms of council tax, bans A, B and C in East Renfisher, that would be an increase of 8.6 per cent, 7.4 per cent and 6.5 per cent but of a reining on the Jamboree parade yesterday. Given that the vast majority of organisations responding to the zero waste consultation were opposed to a DRS scheme in Scotland, will the cabinet secretary, who is a man with a reputation for having a pungshaw for embracing lovely ideas, ensure that practical concerns expressed by wholesalers and others are at the centre of any final decision that is made on this proposal? Jackson Carlaw has taken scaremongering at a whole new level in this Parliament, because of course the point of a deposit return as you pay the deposit, you get it back and you return your bottle or item to a store of our location? In terms of the way forward, clearly we had our feasibility study. This is something that works in other countries. It is very effective in tackling litter and improving recycling rates. Of course this is Scotland who has to ensure that any scheme that we are to be brought forward in this country is suitable to Scottish circumstances. That is why we are taking further evidence and investigating some of the issues that have arisen due to concerns expressed by the retail sector and packaging sector and other sectors to see how this could potentially work in Scotland before we take a final decision. However, there is a lot of support for this way forward. It works in other countries and Jackson Carlaw should recognise that other things that work in other countries can work in Scotland as well in some cases. Question 3, Stewart Stevenson. To ask the Scottish Government what support it is providing to tourism in Aberdeenshire. Minister, Fergus Ewing. We work closely with a range of public bodies, including Visit Scotland, Scottish Enterprise, Natural Heritage, Skills Development Scotland and Historic Environment Scotland and with industry to increase tourism throughout the country, including in Aberdeenshire. I thank the minister for that substantial support that is being given to tourism's delivery in Aberdeenshire. In particular, I invite him to join me in welcoming the formation of the Aberdeen and Aberdeenshire Tourism Company, which is consolidating what had been a fragmented approach to tourism in Aberdeenshire. Over £1 million of initial funding looks set to deliver much more for Aberdeenshire in this important economic area. Fergus Ewing. Yes, in 2014, the total visitor spend in Aberdeen city and Shire region was £351 million, with £1.25 million trip. Plainly, there is a great deal of success already, but the establishment of the Aberdeen and Aberdeenshire Tourism Company represents an opportunity for even further success. I am delighted that there has been such support from all parties, including Sir Ian Wood's one initiative, to further build on the success of tourism in Mr Stevenson's part of the world. Alex Johnson. The minister will be fully aware of the potential impact on tourism in the Royal D-Side area, in particular after the flooding during the winter. Is there anything that the minister can do to assist directly those who have had their businesses impacted? In particular, is there any flexibility available so that those who are unable to let holiday accommodation might make it available to those who have been displaced as a result of flooding without being impacted by the changes in private rented tenure regulations? I think that Mr Johnson is entirely correct that this area, particularly Ballotau, has been extremely badly hit and I have been in contact with some of the businesses there that have been most affected by that. I am advised that there has been support of flood hit businesses of a certain extent, as the member will know, but of course we are willing to look to see what else, if possible, can be done to support all possible businesses that have been affected so badly, and especially the Caravan park in Ballotau, with whom I have been in contact. I am happy to look at that matter further and meet with Mr Johnson if he so wishes. Neil Findlay. To ask the Scottish Government what its position is on fracking. The Scottish Government is taking a precautionary and evidence-led approach to unconventional oil and gas, including hydraulic fracturing. In January 2015, we introduced a moratorium on unconventional oil and gas developments. In October last year, we announced details of an extensive programme of research into the potential impacts of this industry and the timetable for a full and comprehensive public consultation. Neil Findlay. Thank you very much. We know that there is a moratorium on fracking in place and that conveniently, and I am sure that it will, totally coincidentally, report after the election, but is the minister responsible for the policy? In the spirit of new, open and transparent politics, do the voters deserve to know what the minister's position is on fracking prior to the election? Come on, minister.  The approach of openness and transparency, the member says, is new. Well, as far as I'm concerned, it's old. I've always been open and transparent, as members in this chamber know. So consistent with that spirit of openness that I hope I have followed for the last 16 years as a member of this place, I entirely support the Scottish Government policy of pursuing on the basis of the evidence. That was the approach that Scotland bequested to the world through the great thinkers of the Scottish Enlightenment. If it was good enough for them, it's good enough for me. Even the Liberal Democrats have seen sense on the question of fracking. Isn't it time that the minister was true to his own instincts and just joined the growing consensus that we should get on with fracking in, of course, a properly controlled and regulated fashion? Minister. Well, I'm absolutely determined that the people of Scotland should have the benefit of the most substantial corpus of evidence that has been produced in relation to how hydraulic fracturing may impact on Scotland. That is precisely why we have commissioned the most substantial series of pieces of research into all of the relevant aspects. Now, I thought that Mr Fraser was a reasonable chap, Presiding Officer. Therefore, well, I did. Maybe that was a mistake. Should he, as a lawyer like myself, not be willing to look at the evidence first and make his conclusions afterwards, because that's what we are committed to do and that's what we all do. Thank you, Presiding Officer. In light of the openness and transparency that the minister has outlined, could the minister give us some transparency in relation to the community organisations that are being consulted as part of the consultation exercise? After several attempts, I'm still waiting on the answer from the minister. Minister? Well, the process of consultation that we have committed to, that we have expounded, that we have explicitly stated in many public utterances, including parliamentary answers, is that there will be a full national consultation after the evidence, and that will involve everybody. So I would have thought that Mr Wilson would be deliriously happy about that. Question 5, Margaret Mitchell. To ask the Scottish Government what its position is on Professor Neil McEachney's statement, the Police Scotland's decision to issue on-the-spot recorded warnings for the possession of cannabis rather than report people to prosecutors, is a massive white flag to Scotland's drug problem. Recorded police warnings allow police to deal more quickly and efficiently with a range of offences that already commonly result in non-court disposals. The types of crime covered by the scheme are a matter for the Lord Advocate as part of his independent role as head of the system of prosecution. Those offences will still appear in official statistics on recorded crime. The system provides a mechanism that is timely and proportionate, avoids a need for the preparation and submission of a standard police report and enables the procurator Fiscal and Court to focus on more serious crimes while giving police the range of powers they need to respond quickly and appropriately to less serious offences. Those offences are still recorded as crimes. As the member will be aware, the classification of drugs is currently reserved to Westminster. However, it should even be game responsibility for the issue. We have no plans to legalise or decriminalise drugs. The Scottish Government and our partners place a high priority on education in Scotland's young people on the dangers posed by drugs and continue to invest in treatment services and delivery of recovery services for those affected by drugs. We will always seek to disrupt and prosecute those supplying the drugs that destroy the lives of individuals. Margaret Mitchell The minister will be aware that, since March 2015, police in England and Wales have been using roadside drug testing kits to detect and deter those driving under the influence of drugs. Can he confirm that those will be made available for police to use these in Scotland and, if so, when? What has been the hold-up so far in introducing these kits? The use of such techniques is obviously an operational matter for Police Scotland and, indeed, for prosecuting authorities. I will happily write to the member on the position that there is in Scotland. However, what we are trying to set out today is that we remain robust in terms of our response to the prevalence of drugs in Scotland. Thankfully, the prevalence of drugs is not at its highest level. It has been reducing over recent years and we will continue to focus on tackling the supply of drugs that is destroying the lives of individuals and their families and, indeed, communities. Is the minister able to confirm whether there are targets for such warnings? I can confirm that there are no such targets. It is a matter that is used by Police Scotland to deal appropriately with matters as they arise. As I said in my original answer, it allows the police to release resources to tackle the more serious offences that occur in our society. Question 6, from Anne McTaggart, has not been lodged. The member has provided me with an explanation. To ask the Scottish Government what impact the 2016-17 local government settlement will have on communities. Officially, the 2016-17 settlement funding package for local government, agreed by Parliament on 25 February, is firmly focused on the delivery of our joint priorities to deliver sustainable economic growth, protect front-line services and support the most vulnerable in our communities. Those shared priorities will improve outcomes for local people. We are protecting the council tax freeze for a ninth year, which will provide much needed financial relief, particularly to vulnerable groups, investing £250 million in integrating health and social care services and improving educational attainment by maintaining the pupil-teacher ratio in Scotland schools. Does the cabinet secretary agree with me that, even in spite of yesterday's massive U-turn by the SNP on the council tax, the effect of this coming year's local government settlement will mean millions of pounds of cuts in school, teacher and pupil support budgets, driving a stake at the heart of Scotland's communities and thwarting efforts to promote investment in education? It is no surprise that I do not agree with the member that the overall impact on local authority expenditure budgets is a cut of under 1 per cent. Any local authority who has to cut into their education expenditure as a result of a reduction of less than 1 per cent in their overall budget is not managing their money very well indeed. When I look at councils such as North Lanarkshire, where the amount of waste in some of the things that they do, I am absolutely sure that they can save a lot of money and reinvest that in education. Thank you for asking the Scottish Government how it will take forward the recommendations of the working group on consumer and competition policy for Scotland. I established the independent working group for consumer and competition policy for Scotland to consider how new consumer and competition powers that are to be devolved to the Scottish Parliament under the Scotland Bill could be put to best effect. The working group's report published at the end of October last year included 46 recommendations. We are considering those carefully and we will issue our response shortly. On the back of the group's report, I have come pleased for the Scottish Government to use the powers in the Scotland Bill around consumer advocacy and advice to contribute to tackling the menace of nuisance calls. Can I ask the cabinet secretary how the Government considers those powers might be best to deploy around this issue and whether he will work with Westminster on this important matter? The specific point that Mr Day makes about nuisance calls is an issue that is reserved to the United Kingdom Parliament and will not change as a consequence of the Scotland Bill. Therefore, the responsibilities that are transferred to us around consumer advocacy will be important that we utilise those powers in a way that can support individuals who are troubled by the persistence of nuisance calls. There is a lot of good research that has been undertaken on the subject by the organisation in which we have co-operated with which, in many respects, around the design of consumer and competition policy in Scotland. We look forward to continuing that dialogue and to working with the United Kingdom Government on this question. To ask the Scottish Government when it will make a decision regarding the possible electrification of the North Glasgow Suburban railway line. Elitification of the North Glasgow Suburban railway line will be considered as part of the Scottish Government's next high-level output specification for control period 6 due in July 2017. The Scottish Government remains committed to a substantial rolling programme of electrification that will bring significant economic, social and environmental benefits, providing Scotland with a sustainable world-class transport system. I thank the cabinet secretary for that answer, but he will be aware that those passengers who travel on this particular railway line have in recent times suffered severe disruption from a number of causes, one from Egypt and one from problems with the fourth road bridge, all of which are perhaps understandable, but they will now also have 20 weeks of considerable disruption, as journey times are likely to increase substantially during the period of works to the tunnels and other parts of the railway outside Queen Street station. I wonder whether he could perhaps consider making an early announcement about the electrification of this particular line so that we can bring that line into the same situation as all the other suburban lines in Glasgow. It would be extremely helpful if he could. I think that one of the things that I say to Patricia Ferguson is that one of the delays or disruption causes, of course, is the Egypt process itself, which is bringing substantial benefits to Glasgow. I think that there is more electrification happening in and around Glasgow than in any other part of the country. As to an earlier announcement, I think that these things are best considered when all the different options are considered together. There are other parts of Scotland that are very interested in seeing roll-out of electrification to their areas, and we have to consider it against the resources that we expect to have available at that time. For that reason, I do not think that it would be right to bring it forward, but it is worth saying that, in addition to Egypt, and also to Ayrgyr Bathgate in the Paysley corridor, there is a substantial amount of electrification, but it is also committed, as we previously said, to 100km per year of further electrification beyond Egypt. Of course, it is in that context that we will consider our announcement on Mary Hill.