on this side of the atlantic, we have asml, the number two spot taken by asml when it comes to europeanompanies. again, the a.i., the chip semiconductor space is very important. that is why you are seeing gains with the daix dax higher. the stoxx 600 in record territory as we have seen recently. let's get to the impact and not far from the 2.5 month high that it touched on tuesday at 108.76 is where we are right now. we have the fed and the bank of japan putting out their rate decisions next week, but it will all be about what the future holds in terms of rate cuts in europe. this is likely to move because of that. here are the european yield stories. yields tumbling this week in line with what is anticipated out of the ecb which is the cut then in interest rates. the ten-year bund at 2.52. slightly higher. two basis points to the good on the italian paper of 3.82. silvia is following the story for us in london. annette does join us in frankfort. this is a pivotal time for the ecb as well, annette, as it will become very important for them as well. >> reporter: exactly. today's rate cut

asml on the rise now. the second most valuable company in europe a murder mystery at an online encyclopedia. novelist stephen harrison and a 26 year old entrepreneur takes on airbnb. plus, a team creates a digital human to play games alongside you. that's this week on press here. good morning everyone. i'm scott mcgrew. a company called asml just became the second most valuable company in europe. now, you've heard of the most valuable novo nordisk, because you may take one of its products, including ozempic, and you've almost certainly heard of the third biggest, lvmh. although if that doesn't sound familiar, it's brands will sephora, moet and chandon, louis vuitton, among others. which leaves us with asml. it makes things that make chips, specifically lithography. the etching of patterns on silicon wafers. and though the company has a thousand employees in silicon valley, it happens worldwide, worldwide, rather, ralph howell is a vice president of research and development for the company. so this is the s

a dutch company called asml now the second most valuable company in europe, asml, does chip lithography. so putting light to print on silicon, it beat out luxury goods maker lvmh for the second spot. that's the company that sells like louis vuitton and dom perignon. now they couldn't quite beat out the most valuable company in europe, novo nordisk, because that makes ozempic. now, this weekend on our program press, here, we talk with an asml leader about the growth of the company in silicon valley. this is the second most valuable company in europe. i believe it's a dutch company, right. but i don't think most people, rafe, have ever heard of it. right. so we like to think of ourselves as the most important technology company that you have never heard of. but indeed, we are a multinational company. we're headquartered in the netherlands. but sites worldwide, including here in the states. so that'll be sunday morning at nine, right after meet the press on nbc bay area. the company says, yeah, we don't care if nobody knows who we are. we're we're practically printing money. and they've go

the government support to, i guess you could say, pressure the big chip equipment makers, talking asml in holland and tokyo electron in japan to tighten their export controls. they have enlisted the support of those companies on the big extreme ultraviolet lithography -- lithography machines and exports to china. one thing japan and the netherlands have been less stringent is on the servicing of those multimillion dollar machines, which need constant servicing to operate. in particular, this sources telling us that the focus will be on hbm memory chips, high-bandwidth memory chips, which the machinery is made by asml, tokyo electron as well. they are the memory chips bundled with the ai accelerators from the likes of nvidia. those ai accelerators do not work without hbm memory. he gets a little bit technical, but this is a big geopolitical issue with the united states trying to enlist the support of allies like the netherlands and japan on those further curbs of access by china to advance machinery. paul: there will be new legislation that could further the semiconductor industry, what

for instance, looking at the performance in the equity session in europe, asml is down 2.2%.imilar with asmi. infineon is tracking lower at 2.3%and over in france, we have the stock down 2.7%. some of the investors here are clearly looking at what's happening stateside and also trying to position themselves when it comes to the outlook for some of the chipmakers also on the continent. let's discuss what is happening in the market in more detail with the head of the portfolio management at lombard. good morning. >> good morning. >> first and foremost, i would like to look at what is happening in the tech space and try to understand, really, whether this is likely to be short lived or whether there is a significant rotation about to happen. >> i think the rotation of things is currently happening. it is a very bad sign that the tech sector at the moment is starting to suffer. that was one of the favorite plays of investors so far and the rise of the european risk was the natural push outside toward the u.s. where you would find u.s. tech as the sector. the fact we are seeing ri

you are saying 30% of the stoxx 600 moves this year has been on the back of asml.hat play is still significant. as we made note of, micron, things are not equal. is that the worry for europe? because things are not equal across the board, asml and st micro not able to take on the significant gains that you are seeing globally for the likes of nvidia and all the other tech players. >> if you look at the tech versus the u.s., the weight is lower. we have more exposure to banks and more exposure to oil and gas and other sectors. those sectors play quite a role. short term, i'm worried we won't catch up. we have so many uncertainties in the market. you mentioned quite a few this morning. we have the u.s. debate later today. we have pmi late last week which was disappointing. we have the french elections, number one and two and uk next week. short term, u.s. and europe, i'm cautious on the short term. as soon as one month out, it will look brighter. you have earnings season starting which is a good starting point. in europe, we are quite co convinced we have strong beat

if asml does not move higher in the semiconductor or a.i.rade, then you see that fall off across the european market. that very interesting to look at. overall here, the european market picture with a bit of green. the french market is down more than .50% so far. we are heading into the first round of elections happening this weekend. that is the key focal point this weekend. is there nervousness and continued sense of worry and fear that things would move in a totally different direction for france. of course, you may have that ultimately difference of opinion in who stands here and now getting a prime minister in place as well is possible as well. all of those permutations we'll unpack for you in just a bit. it is the nervousness impacting the cac 40. year to date, quickly, i just made note of the stoxx 600 moving up .20% on the three-month basis. this is really the gains you see across the board for the ftse 100. more than 6% higher there. significant upside there. of course, it did follow on from the news we got from the mining sector. t

switching to dutch equipment maker asml, tcmc would receive new asml equipment this year.use this is worth over $350 million. several 18 wheelers to just deliver and not only are they getting new equipment, but barclays analysts say the firm could actually hit $170 a share as more advanced chips drive growth. now on your screen, applied materials in qrla, barclays upgraded from increased spending from china and of course aggressive cap-x plans in the united states as everybody builds out their fabs. >> all right. >> thank you. kristina partsinevelos. >> turn back to you as we approach the close again. looking at closing highs for the s&p and for the nasdaq. how about this goldman trading desk note. love your opinion on this. best days of the year are coming up. they talk about that wall of money. those are their words, coming in in the start of the third quarter. and start of the second half. >> everything you look at in terms of anticipated flows and how the market has already performed whether the first 100 days, basically lees you in a position of saying, don't fight th

a dutch chip company called asml is now the second most valuable company in europe.y do chip lithography using light to print on silicon. now it beat out luxury maker lvmh for that second spot on the list. that's the company that sells, like louis vuitton and dom perignon. they couldn't quite beat out the most valuable company in europe because that's novo nordisk. you know what they make ozempic. well, this weekend on our program press here, i'm going to talk with an asml leader about the growth of the company here in silicon valley. this is the second most valuable company in europe. i believe it's a dutch company. right. but i don't think most people rafe, have ever heard of it. right. so we like to think of ourselves as the most important technology company that you have never heard of. but indeed, we are a multinational company. we're headquartered in the netherlands. but sites worldwide, including here in the states, we'll take a deeper look at that on press here right after meet the press sunday morning at nine on nbc bay area. we'll also talk to a mystery wri

brought to you locally on nbc by asml. changing the world one nanometer at a time.s is what data security looks like today. complex, siloed and not connected. imagine a world where security works as one security that's integrated, centralized, and data threats are visible across your entire enterprise. talis and imperva have joined forces securing applications, data and identities together as one one global cybersecurity leader, securing what matters most for a future we can all trust. hey, what's up john? john cena. today on asian pacific america, an encore interview with new york times food host and best selling author of prius kitchen adventures, priya krishna. then a conversation with bay area congressman ro khanna.

asml is also moving higher as well.ur own jim cramer on "mad money" raving about how investors cannot underestimate the effect the one company has on the entire stock market. >> the company mentioned nvidia ten times on the call. always about being in line with jensen. getting it right with jensen. hp is right with jensen. once hp clarified things -- first of all hyper scalers. micron, worldcom, taiwan semiconductor. cleaner utilities with spare power. data centers consume electricity. arm holdings. applied materials. aided by the upgrade from sell to hold for the first two. i have rarely, if ever, seen the kind of pin action like we're getting through here. >> sound effects and the whole s s shebang. let's get the latest from silvana henao. >>> it is not just nvidia, but lululemon rallying and issuing positive full-year guidance. shares are up 9% in pre-market after reporting flat comparable sales as growth in the americas slows. the company also says it is buying back an additional $1 billion in shares and working to

tsmc is up, as well, but it is a bit more affordable, or even european ones, like asml, the second largestompany by market cap in europe, but they tend to be a bit more affordable than nvidia. paul: let's move to europe. i would like to talk about the ecb. we have that meeting later today, 25 basis point cut seemingly nailed on, but what is your view on the timing and the signaling that has happened ahead of it? are you confident inflation has been sufficiently slated in europe? kaia: i think lagarde is patting herself on the back that she is moving ahead of the fed. not something we have seen from the ecb in a long, long time. the euro zone struggles with the same problems as most other large economies with fairly sticky inflation. it is an services, now it is moving into goods, inflation, but also wage growth. the main problem is the different dynamics of the different member countries, and this is something that mark alluded to earlier, as well. and the euro zone is it like the u.s. countries are still independent. they can even vote to exit european union and vote the euro zone, as we

asml, applied research, nvidia, lam research, we've been talking. nvidia has been in and out.s beyond chips that are poised to benefit from a.i. but also a subsector of the chip world. joining me now lpl financial chief financial strategist, quincy krosby. $1.12 trillion under management. put out chip-related names you like at the moment? >> absolutely. we look at hp enterprises, how well they did today. liz: record. >> also in terms of cybersecurity you mentioned that a.i. is helping to enhance cybersecurity and you know, microsoft just to give you an example, is an investor in a company that came public at the end of april, rubric. i'm keeping my eye on that. the share price is down but the analysts are looking at that company and saying this one is going to be an important cybersecurity name going forward. the ipo market has pipeline of cybersecurity names coming out. you know what? for companies, for american companies, global companies, cybersecurity is no longer a discretionary need. it is an essential and they are spending more and more money to keep their information s

l asml is 1.5% to the good. let's unpack the market with thomas watson at aberdeen.homas, what did you think of may? everybody talks about sell in may and go away. does that still have sflegs. >> legs? >> i think the bull market might fade away. we have a lot of data that did not give us a clear sign. the pce figures on friday, there is a bit of something for everyone there. the consumer spending is falling versus service inflation being persistent. prices will remain high for a longer period of time. we will have cap on with the spending falling. that could lead to a few more roadin readings where you see a sideways movement. you saw fed futures with the fed at 48% the cut would cut in september. after that data, it was 53%. it shows market did not know what to do with the data and it is difficult to get a head or tailwind. >> the data is actually not necessarily sure, but whatever the fed then says is going to determine what the market this. >> it seems that way. it has been most of this year, anyway. when we came through in 2023 and 2024, it was all about the fed

>> there is a supplier to tsmc that makes extreme ultraviolet equipment called asml that is become quiteown but a few years ago was not. there are companies that make them ask blanks used -- make the mask blanks used to attach them to the waivers and then we have the waiver space. those tend to be well known and yet they are very present in the supply chain and great beneficiaries. caroline: have you got to trait and actively trade this market or just sit and wait for valuations to rise? >> we think this has been a great buy and hold space. right now sentiment is very buoyant. look back two or three years ago, everyone was extremely depressed. the geopolitics were weighing heavily. it is a wonderful space to be a long-term buy and hold investor with the ability when you are brave to buy more when the sentiment is down. caroline: are you buying more right now? you said sentiment is up so i suppose not. it is great to have you here. come back. laure negiar talking all things tech. that does it for this edition of "bloomberg technology." don't forget to check out our podcast. this is "bloom

. >> asml. if you think the market is going to bounce here, that has a lot of juice in it. if you don't, don't buy it. >> josh brown, what you got? >> pfizer breaking above its 50-day moving average for the first time in 18 months. pay attention. >> thank you for that. we will certainly pay attention to these markets, and i will take you through the last hour. "the exchange" is now. ♪ ♪ >> thank you very much, scott. welcome to "the exchange." i'm kelly evans, and here's what's ahead. ism jolts this morning. atlanta gdp look at yields and oil, all flashing slowdown signals as we count down to the jobs report this friday. is the market right to brace for bad news or is it pricing it in just in case? our guests are still bullish in the short term. we'll talk about where they're finding opportunities. and optioning to cash in, may come down to his options on hand. we'll explain what trade he could make to avoid regulatory scrutiny and how much he stands to make. and our analyst has a direct but underappreciated beneficiary of ai. he just upped his price target by 50% in the la

asml with the gains of 8%. we check in on the futures right now.oking to build on the upside of yesterday . ftse 100 futures with a commodity rally up. s&p futures flat after that record of yesterday. nasdaq futures looking to add a 10th of a percent. that's what the board across assets. yields dropped four basis points yesterday. private jobs data, pointing to a better calling around the late market. the benchmark 10 year at 4:29. euro-dollar on a massive day. 108, up a 10th of a percent. brent at $78 a barrel. bitcoin back below 71,000 at 70,008 hundred 70. let's go to the european central bank. ecb poised to start lowering interest rates from record highs today. confident that inflation is sufficiently contained to ease the burden on that economy. that's go to bloomberg's lizzy burden, who remains on the ground for us in frankfurt. what are we expecting? >> christine lagarde is in the building. she's arrived and she has been telegraphing this decision for a long time. we are expecting a great cat today to 3.75 percent fully priced by markets. it

let's talk at asml getting a boost as bank of america raises its price target on the chip equipment maker 1.5% rally in the shares. five below hitting a 52-week low after the discount retailer cut sales guidance for the year. hit by an oversupply of squish mellows. a wipeout, it's even worse if you take a look also down after the social media management company cut its forecast for the year. the news prompting a number of wall street downgrades. coming up we did -- we do have bloomberg technology with caroline hyde and ed ludlow but that does it for bloomberg markets. i'm katie greifeld and this is bloomberg. ♪ the future is not just going to happen. you have to make it. and if you want a successful business, all it takes is an idea, and now becomes the future where you grew a dream into a reality. the all new godaddy airo. put your business online in minutes with the power of ai. >> in the heart of her innovation, money and power collide in silicon valley and beyond. this is bloomberg technology with caroline hyde and ed ludlow. caroline: i'm caroline hyde at bloomberg world headquarters

netherlands dominate the semiconductor equipment industry with companies like lamb, applied materials, asml in the netherlands and tokyo electron in japan and chinese equipment makers have taken a pretty significant hit over the past couple of years because of u.s.-led export controls on their ability to get high-end semiconductor manufacturing tools and the chips themselves. but they have made some significant progress and they're beginning to pitch u.s. companies on using their tools. some companies have been entertaining those early stage conversations we are told, perhaps more as a way to impose some pricing pressure on the u.s. firms that currently supply those. but lawmakers see this as a growing threat not just at the advanced edge, but also some tools that are designed to create more older generation chips. caroline: we keep an eye on how geopolitics effects some of these technology companies and ones that are getting federal funding. brilliant story, thank you very much for bringing it to us. look, chip stocks do continue to power high today. you're looking at the stocks, for examp

asml is up 85 bucks today, today! >> just became the second largest in the efy today, lvmh.harles: then of course the majority is in the financial sector, industrials and technology. those seem to be the places you want to be anyway? >> especially over in europe. remember our economy, at the margin is surprised to the downside. their economy is surprising to the upside. the ecb will cut rates this is week. that is good for financials, good for consumers, good for consumers. this is is e-fa is another one for folks listening at home. who need the symbol. >> this is up 8% year-to-date. if you strip nvidia out much, the s&p is up 8%. charles: someone say if you strip novo out, we don't want to play that game. you obviously see really great -- i did like this idea too. >> yeah. charles: talk about this, io, obviously we know all of the names here, microsofts, apples, nvidias, amazons of the world. 39, 40% technology. you okay with that weighting for right now? >> here is my thesis here. a.i. is very good but also very expensive. if you look at the earning picture, vast majority

nasdaq winners ors, crowdstrike, asml hold, zscaler is up there.ld on the 10-year treasury down to 4.13. checking the price of gold, $2,3661. bitcoin almost $711,000. 71,000. the price of oil, $72 a barrel with right now, nat gas with at a $2.if 67. regular gas, $3.50. diesel down a couple of cents, actually, at $3.84. >>> can and coming up, president biden landed in france early this morning and he's already called a lid, so we won't hear or see him for the rest of the day. how will that look on the world stage? dhs secretary alejandro mayorkas seemed confused when trying to explain if biden's new border executive orders. roll it. >> if, in fact, the number of encounters thereafter is 25000 or more -- 250 to 90 on average for 7 consecutive days, we have the authority to, again, implement this bar. stuart: you got that? how exactly is it going to work? hunter biden's ex-wife expected to testify in his gun trial today. should hunter plead guilty before it goes to the jury? former acting attorney general matthew whitaker on that next. ♪ fourth stuart

liz: two of the names,asml is chart of this, huge dutch chip maker in the net they are lands -- netherlandsmuch the basket as much as the individual names. we're trying to figure out a way to play those themes, but not chasing momentum at the tippy-top of this market. looking at 10 stocks at top of this market, it has been a incredible run with nvidia at top of it. the fact of the matter, look at nvidia's biggest clients? who are they? other nine names, google, microsoft, apple. there is connection there. we're trying to spread out from that a little bit so we're not so concentrated through the rest of the year. liz: speaking of nvidia, just turned positive. i don't know if we pick up a intraday picture of nvidia. it was lagging down 1.2%. even as the company had its big annual shareholder meeting. now it has just turned positive by a fraction. it shows that there is real resiliency in some of these names. let's completely shift the narrative to another area that you like, that is gold, why? >> we like gold for quite a while. i was on the show in october when it was much lower, thinking thi

you talk about dmrakso, and roche, and asml and novo nor disk, and you have in sap in terms of software and you have a chance for europe's fiepting back in terms where they didn't have the exciting growth stories. you look at companies that are big, global companies paying high divs. i'm with an etm called idif vo d they find stocks that are defensive of the cash flow profile and europe which has underperformed for such a long time started to show some outperformance over the last six to 12 months. it's been sideways and it's certainly been keeping pace and these types of investments are not swinging for investments and it's getting high-grade companies. >> i was thinking you should go with muesli. on india, what do you think of the idea that there's still outperformance to be gained if that's how you describe it if you invest in the market now. >> i would, seema nailed it as she does. india is expensive and it's been the substitution for china and it's the demographic profile you want in asia. you have the demo, you have the growth and the leader who has proven to be very, very market

the exciting part of that story has been names like nova and asml.ng to continue. i don think it has to be runaway, but part of that is a function of the crowding out of this market is going to help that market. >> i would agree. i think we've seen such underperformance there, it's persist end, and because of that, we have a relatively oversold status for european equities largely. and the ratios, bgk versus spx has come down to support level. reversed off that level, showing better momentum, and the markets have really participated in europe. there are some signs of long-term exhaustion, because those are shared by the u.s., and i would argue that the french stock market appears overdone on the downside in the near term. >> what was your -- what was the thinking behind that question, guy? >> i think that's -- it seems as though the world is headed in that direction. >> the populist far right? >> all good, i mean, people vote -- it's fine. but it's inflationary as hell, and i think, again, tim, i think, believes in in terms of rate, i think yields ar

stuart: the nasdaq, by the way, is at a new all-time record high, and look at the winners, asml holdingsthis, first, there was quiet quitting. now there's a new workplace if trend, busy bragging. okay, ashley. explain what -- [laughter] busy bragging is. ashley: yes. it means oversharing your workload with office colleagues and managers. busy brag withers apparently tout their career accomplishments whether big or small, well, to appear more professional. career coaches say it all a stems from worker not feeling valued or recognized for their work. oh, dear. but, beware, busy bragging could negatively affect a person's relationships with colleagues. some social media users agreed, with one saying, quote, watch out. it doesn't impress people. it makes them think you're incompetent and unlikable and decreases the likelihood that they will help you out. i'd like to tell you more, but i'm too busy. [laughter] stuart: oh, very good, ashley. lou and lauren, what do you think about busy bragging? >> cry me a deliver, we're all a busy. i've dealt with this recently with an executive. we all are.

dutch chipmaker asml surpassing luxury giants lvmh to become europe's second-biggest listed company.fter asml confirmed deliveries of its high-powered chipmaking machines to its largest client. each machine cost 350 million euros apiece or just over $380 million. as for lvmh, shares have fallen over the past month on concerns of a slowdown in luxury sales. u.s. regulators are investigating whether a deal microsoft struck with ai startup inflection may have been structured to avoid scrutiny. that is according to the wall street journal. in march microsoft agreed to pay the start of $650 million to license its ai software. this coming after the u.s. company moved to higher much of inflection staff. the wall street journal saying the ftc is now seeking information about how the tech giant negotiated that partnership. new york governor kathy hochul pausing the states first in the nation can jesting pricing plan indefinitely. it is a stunning reversal for kathy hochul who just weeks ago tout of the plan as a way to reduce traffic. the program is set to roll out later this month with almos

asml on the rise now.elist stephen harrison and a 26 year oldtr

we mentioned broadcom and asml. don't forget, you can catch us any time, anywhere.e "squawk on the street: opening bell" podcast. (subway noises) ♪ ("tosca, act ii: vissi d'arte" by maria callas) ♪ ♪ (orchestra del teatro alla scala, milano) ♪ ♪♪ ♪♪ ♪♪ (cat meowing) ♪ ("huge beats" by louis perez) ♪ ♪♪ ♪♪ the all new godaddy airo helps you get your business online in minutes with the power of ai... ...with a perfect name, a great logo, and a beautiful website. just start with a domain, a few clicks, and you're in business. make now the future at godaddy.com/airo >> announcer: the opening bell is brought to you by ncuveen, a leader in income, alternatives, and responsible investing. >>> grappling with a sales slump and a stock down double digits this year, starbucks looking to win back some customers by offering discounts, including buy one, get one free deals. just weeks ago, the company did launch a $5 value menu. according to t"the journal," starbucks ran promotions for about half the month of may. we mentioned mcdonald's yesterday. "journal's" got a piece about g

there are only so many devices made by asml. they can only produce so many of those a year. that interns means the likes of a tsm -- its foundry ventures -- b usiness. it's really supply that seems to be the biggest constraint. lisa: i was looking out a profit margins. there is something like 76%, which is unheard of for most businesses. when do people start pushing back, if they are most concerned about getting a hold of the chips? do you see any pushback from some of the big tech layers trying to develop their own offerings? alex: interestingly, we did see what looked like a little bit of pushback about a month ago, when it was reported amazon was cutting back spending on some of these chips. and it transpired this was not necessarily to do with seeking more pricing power, it was actually because they want to get the next generation. as long as nvidia keeps innovating and continues to be sort of the only show in town, it is hard to see how others will manage to compete effectively. that is why we are seeing many of these same

in europe, we have asml. they supply chipmaking equipment to tsmc.e unsung catalyst for bold. what straps bold to a rocket and hurtles it into space? boring does. boring makes vacations happen, early retirements possible, and startups start up. because it's smart, dependable, and steady. all words you want from your bank. for nearly 160 years, pnc bank has been brilliantly boring so you can be happily fulfilled... which is pretty un-boring if you think about it. - after military service, you bring a lot back to civilian life. leadership skills. technical ability. and a drive to serve in new ways. syracuse university's d'aniello institute for veterans and military families has empowered more than 200,000 veterans to serve their communities and their careers. from professional certifications, to job training, to help navigating programs and services, we give veterans access to support from anywhere in the world. her uncle's unhappy. we i'm sensing an acunderlying issue. it's t-mobile. it started when we tried to get him under a new plan. but they they