micron rising in tandem, up by 5.5%.making the products that make those products, those microchips. 500 a look at the s&p information-technology index. these ups and downs in the last i've days. -- five days. we did hit a session low or weekly low on thursday, but we are on track to rise the most in almost seven months. another screen i wanted to show 20, when thel information-technology s&p sector was at its high for the year. now, it is down 4%. this has to do with the route in the major brands, apple down 11%. down 7%, microsoft down 10%, intel down 5%. david: coming up, the question of whether uber's best days are behind it. we explain, next. ♪ david: this is "bloomberg markets." calling off the proposed offering her shares of -- four shares of -- for shares of uber. there will be viewers who say this is the biggest unicorn out there. how could there be a lack of interest? emily: i believe it is the biggest unit worn out there if you are determining that on evaluation -- valuations. there are investors who would like

there was a social media alert for micron on the bloomberg. traders are tweeting about the increased need for memory demand for memory chips with the iphone 7. that appears to be helping give micron a boost. western digital and brocade are also higher. prices have gone down from highs. an unexpected build in inventories at a time when supply was assumed to be constrained, especially with those wildfires in canada. finally, a look at gold and copper, which have been weakening today in the face of a rising dollar. gold off about 4/10 of 1%. copper down about 7/10 of 1%. mark b.: metals declining means -- this is the chart i wanted to show you earlier. better late than never. the stoxx 600, all the industry groups were at a high. we are awaiting the minutes from the latest fed meeting. we have gone almost a month without the stoxx 600 registering a gain of 1%. there don't seem to be any triggers right now to boost shares. will that change after the minutes of the latest fed meeting? let's look at sab miller. they were saddled with charges related

micron baird goes to outperform on a better margin story, cost structure story.ore of what we've been hearing about and that is price stabilization within chips at large. >> yeah, seems to me the micron call is obviously, you know, kind of a beaten up value name in a relatively strong group. it's not exactly their area of semis that have been strong, but semis in general have in fact if anything gotten a little overbarred here and look like kind of a strong group within tech. >> brings to mind this story in nikkei today about apple where we have like a full refresh every two years, the 6, the 6s and the 7, nikkei argues they'll graduate to a full year refresh and that the 7 this fall will not have a complete makeover. better camera maybe, better battery. >> it's interesting. and seems like maybe if that's true an acknowledgment by apple that, look, there's just not a whole lot left to do, we're already kind of at that point where the features are what they are at least for the foreseeable -- i actually looked back at this date in 2014 ahead of the iphone 6 launch

the new price target is $18 per share on micron. this is a very bullish turn.interesting considering there is a down turn. it's a will is for two reasons. it is starting to reverse. the stock is moving above that trend line. that tells us that buyers are interested. it could climb back above the average. the last time this happened was in 2012. bullishuld be some action ahead. betty: thank you. abigail doolittle at the nasdaq. taylor riggs has more from the newsroom. taylor: they are looking at ways to have planes live stream more data. that would mean investigators would have to rely so much on the recovery black box recorders like the ones in the egyptair crash. jets do stream some data back to airlines. the german unemployment weight is the lowest since reunification. it is now 6.1%. unemployment for all of the eurozone held at 10.2% last month. see ificials meet to they have done enough to sustain an economic recovery. we can't step talking about brexit. supporters of the european union lead those who want to leave. the or be pulled for the daily telegraph

cost of the machine, but the cost per part, and because we can print parts 10 times faster, and 21 micronsis 10 times the size of a human hair, and half of the cost, is it is going to be breakthroughs for the short production runs. >> talk to me about the so software. when we think of printers, and what really got the desktop publishing going s the word processing software, and the photoshop, and things for people to express their kree creativitd digital cameras, and scanners, and things that translated the world into the technology, and we don't have that many 3d printing tools, and how long before the tools are relevant in the hands of everyday people? we are working with a great ecosystem of patter ins, a thapd i have been working on the 3d printing for a long time. we have been working with siemens and others who are so wildly known as well. and it is a open platform that we have created and you can make parts yourselves. our printer prints the parts itself, and this is one of the parts at the jet fusion printers and 70% of the parts inside of the printer are printed by the multi jet f

abigail: some of the top percentage performers in the nasdaq 100 include dollar tree, micron, and westernal. the best of those three is dollar tree. year earnings forecast raised by 7%. on this strength, the stock hit a record high, really taking out the selling pressure. it appears that strength just could be sustainable for the shares of dollar tree. shery: abigail doolittle at the nasdaq. with two otherg pharma companies, disclosed it received subpoenas aligned with the federal probe into the industry's relationship with charities to help people afford their products to -- products. toid: ben, it's good to talk you again. get us up to speed. what's happening since the last time we talked about this? ben: basically several pharma companies have disclosed they have been subpoenaed for documents relating to their relationship with these co-pay to charities who they themselves are funding. it is clear the feds are widening a probe into this area. shery: explain to us how all these charities get their money. ben: these are charities that have doled out a billion dollars in contributions bac

>> my question to you is micron. >> listen, i'm no longer putting the hate on it. enough is enough. it is okay. john in california. >> it is the best place to live in your car if you're living in your car. for the record. >> i know they did the hepatitis thing with success and now they're working on the zika virus. >> they have to do an acquisition. get some growth away from hepc. otherwise i can't go buy buy buy. >> i want to get your thoughts. >> there's only one company for genomics. the all time high today. dan, what's up? i'm in bulldog country. i want to know, wells fargo or sun trust? >> do i prefer wells fargo. the bank of buffett. i think it can go much higher. don in texas. >> caller: thank you for taking my call i want to ask but a stock amd. >> i'm no longer negative on them. it's too low. in a tech rally i even endorse it. wow. okay. let's to go connor in indiana. >> caller: i was wondering your thoughts on petroleum. >> it has the assets. my favorite is occidental. my travel trust owns that. one more. nick? >> caller: what if apple doesn't work out? >> you'll never not

all this is leading to the possibility that amd and micron, both of which have some flashes, might beoing better, even though they're burdened with weaker commodity chips. again, we don't know which semiconductor maker of implied materials is getting flashes from. meanwhile, qualcomm gave a bullish interview this weekend. emphasizing excellence for the new chip set. along with the resolution of their chinese licensing disputes. very visible positive story, it's been down for ages. then this morning, they upgraded microsoft. saying the company's cloud base initiative and the utility that is windows seemed to be better. it's incredibly important for tech. microsoft was a major driver of the decline in the tech complex after it reported a sub optimal quarter a month ago. where they weren't transitioning fast enough. microsoft might be back to leading this group higher again. >> we learned midday, zylinx received a buyout. can you imagine what would happen if we see the ink on that one? hewlett-packard enterprises announced a good quarter, said it was merging its enterprise service segmen

trade right now, or the beta names off of that, some of these chip names, broadcom, or going towards micron right now, or going toward something like a sirrus logic. >> amazing story. a name we talked about in the show a couple weeks back when the stock was beaten down. look, if apple actually truly does put oleg screen in every phone in '17, it's a massive opportunity. we highlighted this in the last upgrade, $150 price target on the stock. what's interesting about today's action with the suppliers is it was all short covering. that's all we saw was short covering on the desk in the supply chain. you've seen a lot of derisking by hedge funds. it was short covering primarily not really long, or adding to positions in these particular -- >> does it matter? does it matter if the rally, or if this rise begins with a short covering rally? >> not to me. no. i don't think it does. >> i don't think it does either. it's been right to be negative since the beginning of last year. here's a stock that went from 130 down to 90. along the way, and it's happened a couple times now, you've had significant

micron, tsm, skyworks and apple closed to a one-month high on hopes the iphone 7, they will make a lot western digital also up 2% this morning. it's up 13.5% over the past week. interesting move by some of these storage names that had been in a sense left for dead for awhile. >> worth pointing out london club up 10.5% today. reports it hired [ inaudible ] to find buyers. without those they don't have a business model. >>> let's get to headquarters. scott wapner and "the half." >>> welcome to "the halftime report." i'm scott wapner. our top trade this hour, the great rate debate as yet another fed head says a june hike is now likely. with us for the hour today, joe terranova, john and pete najarian and michael santolli. let's kick it off with the markets and those comments from san francisco fed president john williams who said today two to three rate hikes are appropriate this year. raises the question of whether a steep summer sell-off will b

micron technology down in the summer. and down half the time. yahoo! also falling around 12%.only trades up 20% at the time. sansdisk trades higher more often than yahoo! does. auto desk trades more positively than yahoo! but loses over 7% in the barbecue season. a look at the tech names in the hot season. >> thank you very much. apple is interesting. seasonally, that makes sense. because it lines up with the fall launch of a new phone. >> right. this year, are we going to have the same type of tailwind? i don't think so. i think everybody's out of the stock on that one. what this comes down to is you're talking about momentum here. if the market has changed over the last 12 or 18 months, then this may be the time. most of those were 70% of the days up or something like that. this may be the summer that doesn't work. >> which names stand out to you? >> in the tech space, the apple effect is also one of these things you have a very good december quarter obviously the big quarter for apple. this is something that i think is one of the reasons you get a bit of a tradeoff in the s

. >> we've got the micron and camera so let's start over here. i haven't seen you in a little while. s it on? ust slide that up. can we get another microphone? let's get it over here real quick. >> ok can everybody see me? thank you, mr. secretary, for coming in and presenting your case as far as improving veterans care and access. two things -- one is the appeals process that you're working on and one man who is 99 years old has been waiting to have his appeal approved and i will sure -- i will be sure to have ms the question as to where that is today. it's about identifying himself as someone who fought during world war ii. my other topic i will address to you is accessibility and availability of resources to include outsourcing -- i'm sorry, out reaching to veterans. i am an aarp ambassador in caregiving and the v.a. had a caregiving program post-9/11, almost 500 million, 20,000 have supported that so far. it's the only program that provides stipends to caregivers. there is 43 million caregivers in the united states today which takes about $50

guys in the control room, if you can bring up micron, skyworks, western dig, you will see them on the move big time. >> they had a great week last week. they have been moving for awhile now. we started to see a little bit of paper flowing into the options in a lot of these various names. last week late in the week we saw qualcomm paper as well. there's a lot going on and it's not just an apple story. it's the suppliers getting involved. >> do we think buffett or his guys, however you want to believe -- >> whether buffett or his guys. >> berkshire, to be accurate, forced people to reassess apple straight as a value stock? >> no. >> the merits of apple as a value stock? >> buffett had absolutely nothing to do with it. >> okay. the two guys who did it, forget buffett, you think berkshire's purchase of it forced people to reassess it as a value stock? >> no. >> if the stock reacted positively since then, why not? tell me why it's not the case. >> because why can't i look at what david tepper is doing and carl icahn is doing in exiting the stock? we have three dynamics here. one is getting

is smh, and some of the best have been chip names and applied research, and lam a materials, and micronamong the week's biggest gainers, and another one n the s&p 500 tech sector, by and far away, the best performing chip stock is nvidia. >> so we mentioned it in the top of the show, the pick up significantly in tech, and if it keeps up the momentum in chips is what? >> well, it is speaking to the v value trade we have been talking about a lot this year, and it is coming back in vogue, and the dividends, and if you believe that the stock market is stuck with the low earnings, and fed that is going to be keeping a ceiling on things, then you want the dividend, and the chip stocks will pump it out. >> any that you like better? >> intel. i know that is a rasis a sarat he h was talking about, but the data and the intel spending, and that is where they want to be. >> and we know that one that we like, and josh hates is qualcomm, and if you look at the chart up to 55 and here is another space if the consumer comes back, and you want to be part of the semiconductor space. and the ones that dom

let's start with micron which is rising again on an analyst upgrade.n the stock, up another 4% today. robert w baird is upgrading the stock from a neutral looking at improving gross margins and a price stabilization in d-ram which is a memory chip that they make in a positive flash outlook for the rest of the year. thes curious to look at analyst sentiment because we have these two upgrades over the past week or so. here's the stock price and here's the target price and here you can look at the bars to see and theres and sells has been an uptick in the buys but not significant in terms of changing sentiment. ato, let's take a look cliffs natural resources. that stock is up the most ever in a single a, 39%. j.p. morgan chase raised its recommendation. the company announced an agreement to supply iron ore pellets through 2026 which is lifting the stock. some of the analysts who have commented on that deal as well as the j.p. morgan chase upgrade have said the company's price estimates for steel are with a lag so it still doing business though steel is lo

micron falling on memory chip prices.d gold under pressure as we also see some of the commodities under pressure today. alix: the other story has to do with brazil. julie: that's right, dilma rousseff has been suspended and there is a new acting president, finance minister in brazil, so investors are trying to figure out what to make of all of this. right now, the brazilian stock market is up 1.25%, but there has been a lot of bouncing around as people try to assess the interim president michel temer in what has been a difficult situation. the currency has also seen some volatility. we saw the dollar climbed versus the real and then came back to some extent. also want to look at bond yields. we are looking at a one-your chart. we had seen a round-trip. bond yields have come back down so there is still some buying of bonds going on the midst of this very much evolving political situation. scarlet: thank you so much. alix: let's check in on first word news with mark crumpton from the newsroom. mark: julie hyman just spoke a

individually, the winners on the like you see companies dollar tree which reported earnings, micron has rise as well, and hewlett-packard enterprise pulling back this week, signet jewelers. that companies numbers missed estimates. and marathon petroleum also lower on the week. alix: what about away from stocks? julie: looking at the asset classes in the lead up to janet yellen's talk today, here's a look at oil and gold, both of them trading down oil. gold on a days long losing streak here as we have seen more of her rotation back into risk assets. let's take a look at the 10 year as well. we will be watching this closely in the wake of her comments, if she does comments on monetary policy. , and the u.s. dollar has been gaining a little bit of steam today, the bloomberg dollar spot index of .25%. julie hyman, giving us the set up as we await janet yellen speech. a number of after fed officials indicated they were open to a rate increase as early as june. beyond the fed lineup of officials speaking and giving this dovish tone, there are plenty of voices cautioning. alix: they expected d

. >> we've got the micron and camera so let's start over here.'t seen you in a little while. is it on? just slide that up. can we get another microphone? let's get it over here real quick. >> ok can everybody see me? , mr. secretary, for coming in and presenting your case as far as improving veterans care and access. two things -- one is the appeals process that you're working on and one man who is 99 years old has been waiting to have his appeal approved and i will sure -- i will be sure to have ms the question as to where that is today. it's about identifying himself as someone who fought during world war ii. i will address to you is accessibility and availability of resources to include outsourcing -- i'm sorry, out reaching to veterans. aarp ambassador in caregiving and the v.a. had a caregiving program post-9/11, almost 500 million, 20,000 have supported that so far. it's the only program that provides stipends to caregivers. there is 43 million caregivers in the united states today which takes about $500 billion of their own funds to provid

less one person promise to be of your this is her when your birthday party on a sample she said okay micronwatched them and give you a chance. >> dave: good morning we clear skies of the golden gate 10 minutes before 10 and temperature is upper 50s at work 61 hayward of fairfield the warm spot in antioch 68 the notice below is moving through out of the see no. flow with windy conditions led to very much pronounced as a warm-up not so much today business as usual and the way and then of the rfa cool down mild with a lot of sixties on the board bigtime happening tomorrow and also in to wednesday before things change. chemical off with showers by a week and lower middle '70s most of the east bay shoreline the are the '90s 75 by thursday things turn traffic as early thinned out by the bay bridge toll plaza. a 80 over crossing the span 15 minute drive time and staff francisco. this is our problems bought all morning long you can see a live picture here at the limit now from hayward over to the 11 split the goal. the gate bridge villeins reconfigured on either side south or north. >> mark: gettin

i believe that's micron in number two spot. lam, broadcom. more on the rally in the chips. chips aren't down. the chips are up. we'll have more on that later in the show. brian? >>> news alert for the energy market. it oes time for the weekly rig counts and the counts coming in unchanged compared to a week ago. 318 rigs. the first time in nine weeks by the way that oil rig counts have not fallen. we are still, though, down 341 compared to a year ago and lost last couple of weeks and we had 1,851 rigs gas and oil, 1,500 in 80 two years ago. >> now what? >> 40 to 50 jobs associated with each rig. those are jobs coming off. >> in a year. >> lowest ever recorded data basically. >> wow. >>> still ahead, hitting housing. we have new numbers showing that the spring selling season is in full bloom. plus, do you want a brand spanking new tesla model 3? all you got to do is go to work for a north carolina-based company and they'll give you one. you're going to hear from that entreprene entrepreneur. why he is doing it when "power lunch" rolls on. >>> welcome back. i'm tyler matheson.

micron, active igs, blizzard, applied materials, they make the stuff that makes computer chips.a, video game publisher, video game con soles, those guys really led the way higher for technology in recent weeks here. and check this out here. of course, we have to mention one tech stock that everyone wants to talk about, apple. we know that it had a rough time the past couple weeks post earnings. check out what is happening over the past month, up 2%. apple starting to make a move higher. we'll see if it keeps up going into the summer months. >> thank you, dom chu. >> so which tech stock should you keep an eye on this summer? let's bring in a chief investment officer of hartland management. guys, great to you have with us. i think there is a larger question as we have listened to janet yellen and digesting the notion of a june or july rate hike, is now time for a market rotation? that's what we've been seeing the past couple weeks. a move in technology and out of the very crowded trades, yield trades of consumer staples and utilities. michael, i'll start with you. is this a great

all members are positive in today's session with corvo, micron and skyworks leading higher.s tracking for the fifth upday in the past seven, up 4% in the past few days. >> thank you very much. so here's what is ahead on "power lunch." obamacare sticker sho. new rates set to be unveiled. find out what you may be paying ahead. plus, voting every year to pick your company's ceo. it's a thing. is it crazy smart or just crazy? you're going to meet a company doing just. that. >>> and searching for the next janet yellen or ben bernanke, they are best and brightest in the economic world. by the way, they're only in high school. you're going to meet them coming up. billions are spent to confuse and, dare i say it, flummox the american public. "save 16% on car insurance." "switch now..." well at compare.com, we say enough's enough. so we constantly scrutinize millions of rates... answering the question once and for all, who has the lowest. just go to compare.com and get up to 50 free quotes. choose the lowest, and hit purchase. so you can get back to whatever it is you civilians do wh