those shares so from qualcomm micron saw substantial losses here in the 3rd trading on the upside if you want to put it this way companies like cisco for example could fill in the blank and the stock of cisco was by far the biggest winner in the dow jones industrial average but without those u.s. components the entire your way organization would be in jeopardy so an even tougher line from the u.s. on wall way how could this play into the trade talks that are either going on or not going on we're never sure it's certainly increases the pressure and what the news agency bloomberg was actually writing is that washington might pull the nuclear option having that said we've seen that here was another chinese. company. they had a similar ban and then at the end washington decided to give special licenses to some u.s. corporations so that by the end they still could supply as e.t.e. and something similar also could happen with your wise so not all is lost to put it this way and there certainly and clearly could be some exceptions in support of there from new york with the latest thank you a

. >> qualcomm, micron, skyworks. those stocks have not had a great week a lot of the damage has been done today, quint, as a result of this executive order. >> yeah, we have some micron it's not a fun day for that position but i think this is -- this is going to be interesting because exactly what we're talking about happening in the whole market is happening in this space. that is investors are jumping to the conclusion that now china will, for example, in micron'scation get their dramm from somebody different. they reply 56% on revenue from china and investors are hitting the sell button saying that's over, this company is toast. i don't know we don't know. we have a stop in place. it's still far below it's a painful day for that position but i'm not willing to say yes, they're going to get dramm from somebody else and that is over. >> we can show you the intraday for apple, for example, we were pointing out not long ago it was negative and turned positive i think a little bit first on the belief if there's retalia

skyworks,king qualcomm, micron after the president and the congress -- commerce department put huawei on a blacklist. we will examine the ratifications of that move. i want to point out cisco is one of the exceptions, doing well after earnings of more than 5%. there are several other companies we will talk about that are doing well, including walmart. later this hour, wells fargo security and senior bank analyst joins us. you do not want to miss that. david: looking forward to that conversation. looking forward to that conversation. markets do seem to be taking it badly. it does not feel like a risk off kind of session. we have 90 minutes to go until europe closes. we are up by .7%. it has been turbulent, but we are making gains. is a factor in all of this, stocks like nokia are making gains. i want to highlight what is happening with the british pound. he continues to go down. we are five days down now against the u.s. dollar. nine days down against the euro. we will talk to nikki morgan later from the treasury select committee. to reinforce the risk on kind of day motive we are seei

intel's unchanged, but qualcomm, micron and seagate are down a percent or more. turn now back to the markets and your money and investments. futures indicating the dow may be likely to rise slightly at the open stocks really scratching and clawing to make a come back from monday's rout. the nasdaq and s&p one percent away from being higher on the weak frayed nerves and tension over iran have also brought buyers back into bonds in a big way the benchmark, 3.2% this morning. it will bring down borrowing costs and mortgage costs and make stocks more attractive. the yield on bonds not enough to get anybody's attention. right around the world, a similar trend as we've been seeing in asia china's rise has been a little bit surprising lately, because we've got new data out yesterday that shows people have been dumping chinese stocks the iif said about $2.5 billion came out of chinese equities last week. this morning, europe mostly in the red today, but don't tell anybody. europe has been pretty hot, we're down fractionally right now, but the german market is up 7% in th

qualcomm micron intel have gone down in chairs on the van and they will get up to 90 days to finish taking business and make arrangements for the future. it is seen as a bit of thawing in trade relations with china. they need all the help they can get. let's go to the big board and see how we are doing so far. the dow is up by about 125 and the nasdaq gaining 65 in the s&p is up 18 points. department store stocks are struggling after a number of very weak earnings reports coming in. shares are down 12% for calls, down 7% for jcpenney. back to you. spoke jason brooks and k cbs radio. >> thank you. >> cities across the bay area have battled with electric scooter companies about permits and parking and the piles of scooters on all of those sidewalks. spend now one california lawmaker wants there to be a blanket law statewide for all companies and users. the law, if passed would require electric bike and scooter companies to get permits from cities and agree to rules for parking and maintenance and safety with the cities before operation. >> i think that is totally reasonable. >> i think that

companies are falling on this news, we are talking about companies like qualcomm and micron, debt supplythese telecom companies with chips and networking gear. is this the right call by the trump administration? >> i think it is. the authority the president provided in his emergency declaration is a broad authority, but can be taken apart with a scalpel. they are at the ntia, and they will use the tool very carefully. -- emily: what is the threat that they really pose? they say there is no evidence, they are anchored by this decision. are they wrong? >> i think so. the national security institute, which i run, put out a report by the intelligence community that demonstrates threats companies like huawei and zte pose. the reality is that they spend a lot of time -- on the back of no interest loans, so they are not really competing in the economic marketplace, either. that is a real problem, also. emily: what is the evidence that huawei could be involved in espionage and be a threat to national security? of course, we know the case by the justice department about the violating sanctions on

system is are more closely tied to china and trade than any other industry many companies like qualcomm and micron get a substantial part from china as much as 64% in qualcomm's case we've heard recently from semiconductor groups and texas instruments, intel, qualcomm and texas instruments demand continues to slow across most markets with no second-half recovery and the similar story was intel and they said no second-half recovery and qualcomm also expects to be lower this year for their earnings and semiconductor exports have also been down and there have been reports of high semiconductor inventories and finally, the chip companies aren't cheap many names trade 20 to 30 times forward earnings and these trade typically at ten times earnings and that's when i say they're not cheap. only intel, in my opinion is looking cheap after dropping 25%. a lot of flashing lights, in my opinion. >> thank you, bob pisani bob mentioned intel and maybe it's trading down because it warned a couple of times where do you stand on chips with these trade tensions >> they're right square in the bull's-eye of everythin

new sanctions on huawei has chip makers lower again today co r6789 vo skyworks, qualcomm, micron consumer names as bob mentioned not feeling that pain. >> let's send it over to rick at the cme for today's bond report. rick >> 10-year neelds up two basis points and two-year's up about four a little bit of a flattening bias but in the end look at a three-year chart of 10 here's what you need to know 2.37's the low close for the year and if we take that out we drop back to may of -- or excuse me, 2017 but the thing is we haven't closed there although intraday we violated it the dollar index having a huge day. a third of a cent away from two-year highs which would take you back to may of 2017. and finally, it's all about china. there's a mid february chart of the dollar versus the yuan you notice the flat area in the middle of the chart. that's the month of march. and that's the information we garnered yesterday where they sold over 20 billion u.s. treasuries it certainly didn't have an impact on the foreign exchange market i don't think there was malicious intent i think we're selling like j

qualcomm, micron, semiconductor firms, ones that some say may be hurt the most.ienced but these american farms are really caught in the crossfire. huawei has been quick to point out that the u.s. government decisions are hurting these u.s. firms. i will read part of huawei's company statement. this decision is in no interest, it will do significant economic harm to the american companies with which huawei does business, it will affect tens of thousands of american jobs and disrupt the current collaboration and mutual trust that exists on the global supply chain. the nikkei asian review reported that huawei was essentially prepared for something like this. in fact, the company apparently told its suppliers six months ago, so these are the u.s. companies, that it wanted to build up a year's worth of inventory in anticipation of an escalation of the u.s./china trade war. one unknown, though, is the form of retaliation that china will take against suppliers with exposure to china, and some analysts here citing qualcomm as among the companies that has the most risk in

hurt in today's trade and what's been obviously a rough month for that sector names like qualcomm, broadcom, microne downside although the dow's repaired losses down 51 at mercedes-benz, we make every vehicle to be eye-catchingly beautiful. we make them to be exhilaratingly agile. we make them to be meticulously engineered. and for the cla, we also made it for this. the 2019 cla. lease the cla 250 coupe for just $299 a month at your local mercedes-benz dealer. mercedes-benz. the best or nothing. >>> here is what is coming up top of the hour. with big name chip stocks getting hammered, which if any are worth buying? >>> plus our call of the day and tesla at a turning point we'll debate where that stock could go all coming up top of the hour. that means we're on at noon. >>> and you mentioned tesla. thinking about elon musk's tweet, the stock thousand down at around 200 bucks a share, on pace for its ninth negative day in ten meantime the dow coming off its fourth straight week in the red. here are some stocks taking a toll on the index this morning nike, intel, apple ♪ you guys be good i'll see you

. >>> semis the big movers today qualcomm, skyworks, micron all up around 2% to 3% apple also up. you see it there doing better this morning after a steep drop this morning. guys, christopher, first on the chips, how much of this is just up a bit because they were down a lot? does this 90 day reprieve for some companies really mean anything >> yeah, i think that the 90 day reprieve is just kind of openings door to perhaps more negotiations in this area where otherwise as of the call last wednesday night, that door was really closed. so this is just a bit of a relief after what was a pretty bloody couple of days. >> and tom, apple probably the biggest stock with china exposure that lot of people understand and you acknowledge that there is china exposure, but you think the selling in apple is still overdone price target would be 30% up side from here why? >> so i think what investors are overlooking is apple's ability to mitigate china related risks. you think about on the tariff side, they were able to successfully lobby to have some of their products taken off the list for tariff

businesses that export to china like apple, qualcomm and micron and wynn resorts, they will feel it and it will hit our 401(k) plans. we're going to feel it as consumers. that's inflagran -- inflation. this is single most important issue, not of the year, not of the election cycle but for an entire generation. we have to get this right. >> neil: thank you both. sorry with the breaking news developments. want to pass that the china delegation including vice premier, the second most power official in china will be meeting with the president. they will be having dinner we're told as well, the delegation will with their american counter parts, this is a last dash grab at avoiding problems here. if tariffs go into effect and i cannot repeat enough, the governments don't pay them, you do. businesses that sell stuff do. in the past, they have gotten that stuff to eat the costs. they can't absorb these. so this will impact you, not your government. more on this and the former dow chemical ceo says more than dow chemical and fortune 500 companies are on the line. we all are. ancestry is celebrat

day was the open for virtually all the semiconductors including intel, texas instruments, qualcomm, nvidia, micron most were down about 4% in the first few minutes of trading and closed with losses only about half of that so here's the bigger question. why is this semiconductor etf more than 30% this year? many chip companies get more than 60% of their revenue from china. the smh which is a basket of the top 25 semiconductors in etf, it is rallying even as commentary about the china business has been very cautious here. so the bulls have been saying, semiconductors and stocks in general, they've been rallying because earnings have been not as bad as feared all right. that's true. but the semiconductor commentary doesn't reflect the consensus that weakness in china bottomed. take a look at this texas instruments, for example, weakness in sales will likely continue in china intel noted acute deceleration that is their word, in demand for chips in china lamb research that makes the machines and chips said that a spending correction from its clients continues. and qualcomm said the weaker revenue guid

we'll wait to see that >> chips though obviously on the bright side, xilinx is up and qualcomm and micronole back buy story, people are pointing to the whole pattern of selling over night futures and you have some strength during the day. now that it got widely noticed, the pattern was broken over night. >> s&p is up about .6% apple is out pacing that for one in the first time in a while technology is doing fairly well. apple share is up 1.3% after earnings of course the market cap climbs above a trillion dollars and now it fell down about $850 billion. you lost well over $150 billion in market value at apple over these last couple of weeks on fears of the renewed tension of china and what it would mean for the company. it is still up 17% >> yeah, it is still weighing down relative to the highs of last year. i don't want to call it a trillion dollars curve none of the companies held it long h you had microsoft and amazon and now you have three stocks in the 900. right. amazon is not far in below in terms of the nines anyway. >> a couple of comments on uber today as ups out with a note say

exposure fact ahmanson incomplete net alphabet apple biggest lowers premarket semiconductor qualcomm, micronshowing that apple is exaggerating how long phones operate between he charges, joining me to break it down fox business dagen mcdowell, pcw partner mitch roschelle, lindsey bell. >> what the president said tleend to increase strifz on 200 billion dollars of imports, to 25% by friday, he said the talks going too slowly but he also hints the rest of chinese imports could be taxed is that correct. dagen: 325 billion dollars, in additional chinese goods come into united states, every year, and 25% tariffs shortly unquote. that is the that is the danger i think that is probably what caught investors off guard this morning, but, again, do you have to sit back, and given the volume of tweets on a whole host of subjects over the weekend, that the president was pouring out liked like he may be was raining on the golf course perhaps, or -- part of the week, i mean tweeting about about kentucky derby, i think the later in the day, that investors were going to sit back, this is just might be a tri

qualcomm, broadcom, skyworks i cannot believe it. this is tough. huawei is a giant company and a lot of our companies sell into them this does cut numbers instantly. >> you would be watching micronqualcomm >> yeah. >> they all sell qualcomm has a large deal. it's an important customer for them they're still in the midst of renegotiating with them, of course, al terms of a new agreement. jim, i mean, this is with one hand sort of reaching out to say let's get back to talks. the other taking a baseball bat and whacking them around the back >> yeah. i got to tell you -- >> if you recall zte, how we had that company conceivably on the precipice of failure as a result of similar kind of a ban for a while, that gives you a sense here of the importance of this potentially for huawei it doesn't mean it happened as of yet, but it could they rely on u.s. technology at this point the chip sets that we mentioned from a number of u.s. providers to power a lot of what they're planning on doing. this is more than a shot across the bow, isn't it? >> this is much bigger than tariffs. this says we're stopping the 5g leadership we will not let our technology companies make them be ahead of us in 5

charles: stocks under pressure with micron, intel, qualcomm, wynn, apple those stocks you buy on a dipor exposure to china? >> industrials and semis ones that have to import or a lot of sales. anybody that has a lot of sales or has to import a lot from china. i would say those are much safer bets in the u.s. you take that, once the trade war is on -- charles: i want to ask both you guys, last week was such a consequential week, powell, he threw things off a little bit. we had the productivity number that blue everyone away and jobs report blew everyone away. that was a green light for this market to go substantially higher based on the underlying fundamentals of our economy. >> last week was sort of a boom week with economic reports. positive gdp and wage growth, everything just perfect. that is why trump, i think, trump also might be willing to take risk in negotiations when you have so many data points saying the economy is on a good footing. charles: even those theirs is up than ours, china is all-time high. beyond the economic trend do we auger for a much higher stock market. >> i

course, in the technology stocks generally speaking, but chip stocks the focus exile yix, qualcomm, nxp, micronhuge part of the story with regard to technology companies, specifically chips. so chip stocks ones to watch in the premarket. >> on deutsch -- i'm thinking of doug braunstein, the activist who went after them a couple months ago -- how much has that stock come down? >> we're flirting around record lows right now for deutsche bank shares the whole idea is that these guys need to find some kind of a partner. that's the thesis for many traders out there. it was going to be commerce bank, maybe. right now it's maybe -- is it uni credito in italy could it be somebody else? the idea is that they don't stand alone, so if somebody buys them out or they merge with guyt stand alone. >> how much do you think this is a reaction to the news and donald trump the bank is not filing on the governor on him and cushnjus jad kushner. >> they level a lot of what's happening with the interest rates and environments yes, the deutsche story focuses on donald trump at some point. i am not sure if that's the

think of the likes of qualcomm, salesgets 66% of from china. same with micron% of sales from china. so chopping some of that off, the companies have to think about where else they will do business and make up for this. emily: we will continue to follow the story. sarah ponczek, sarah mcgregor, thank you so much for those updates. meantime, we continue to see the fallout of the u.s. government blacklisting huawei, as sarah mentioned. microsoft has removed the chinese tech giants from one of its websites offering cloud gear. qualcomm and broadcom have told employees they won't supply huawei until further notice, and google will not provide crucial software to future huawei smartphones. for more, i want to go to our guest, in boston. would you say that a tech cold war is already happening? roger: we are certainly in the opening stages here where the battle lines are being drawn. emily: well, have the battle lines already been drawn? you could argue in china for example, facebook was blocked long ago, twitter was blocked long ago, google was sort of forced out of t

terms of how it affects the market we looked at trade as and stocks this morning slightly down, micron and qualcomme, slightly down. 3m is positive though. that's one of the reasons the dow is moving up sector is still a little weak. materials flat, and energy have gone positive. you see this is a much better open than we have yesterday. still a lot of uncertainty it is obvious. the mark is totally confused what does it mean? the front month future contract. the second one there, 18.50. that means traders -- think things would be crazy the next two weeks. it is very unusual often associated with market bottom they don't know what the outcome is going to be it is hard to gain what's going to happen with trade talks that's part of the issue is figuring out the outcome the three basic outcomes that everybody talks about. one, you get the trade deal and everybody gets home and be happy and the second is no trade deal and no tariff increase and negotiations continue. and the third is no trade deal and tariffs increase and everybody goes home unhappy. ugh s you can see why everybody is confused and the v

micron is down about 21% and qualcomm, the worst-performing stock in this etf down 23% or so driven lower in large part by that federal judge ruling that it acted with an anti-competitive manner with how it charged licensing fees to certain customers and an honorable mention on its stock search today as some traders get optimistic and bullish about amd's latest chip offerings, the move means amd is the only stock in this etf that is positive on that month to date basis just one final point with regard to the negativity in technology. apple not a straight story about u.s.-china trade, but it still becomes a proxy on the headlines since its intra-day high and apple, chips, china trade and it's all one big clump back over to you >> it's one big clump that's been compressed inside the bag dominic chu, karen finerman, let's trade this any reason to own this group >> fundamentally don't get to the technicals in a second >> well, you've got to really believe in the trade deal. you have to believe in a trade deal soon, actually. so, i don't know that seems -- that could happen. i think there are

and the number two handset maker by volume the impact is broad so look at qualcomm, intel, broadcom, western digital and micron, all among huawei's biggest suppliers and among tech's notable losers in today's session. you can see there qualcomm, broadcom, western digital all down more than 5%. huawei getting squeezed on the software and service side as well here with google saying it will no longer directly supply huawei phones with the latest android software that's likely to have the biggest impact on huawei's smartphone business in europe where it had been gaining share rapidly, guys. >> jon, to that point, though, google allows certain manufacturers to enhance android and specialize it to their specific brands. huawei can still use the normal version of android explain to us exactly what's happened there >> part of android is really open source. and so that they will continue to have access to. huawei in its domestic market of china already does its own specific enhancements. but access to overall android updates that are pushed out from google and the google app suite that comes with the own version that

micron technology, 51%. qualcomm, 65%. you get the drill here. with google. there are other factors at play there. it is dealing with a lot of political and other issues including trying to limit online tracking. easier said than done. robert gray is at the google developer conference going on and how that's all sorting out. robert? reporter: hey, neil. the keynote has been under way for about a half hour so far. we heard from sandar pichai and he was talking about they wanted to make products based on a foundation of privacy but we haven't really heard him filling in the blanks a whole lot. hoor here's a little snippet of what he said. >> our goal is to build a more helpful google for everyone. when we say helpful, we mean giving you the tools to increase your knowledge, success, health and happiness. reporter: so they have unveiled so far 3d and augmented reality effects for mobile search, some translation and other interesting augmented reality features for the phone, letting you book rental cars and movie tickets using ai instead of having to

depend on china for a huge amount of their revenue, so we're seeing a big skid here, qualcomm down let's call it 3 2/ 3%, micron technology, nvidia down 4.5% it just gets worse advanced micro devices down nearly 5%, so our opinion echoed across the pacific as u.s. listed chinese firms tumbled including the heaviest of the heavyweights, alibaba, jd .com, all are getting crushed under the weight of increasing tensions and it's not so much anything that specifically happened. it's that nothing is happening. there is no meeting on the table , so is this a classic case of sell in may and run away or is it something merky at work to the floor show and we bring in our traders to phil flynn because oil is the story at the very moment. can you tell me when you see a 6 % fall in the price of crude, whose getting killed here? anybody losing their shirts at the moment? >> you know, i mean, obviously, anybody that has exposure we have traders that are getting beat up here, oil companies of course are getting beat up, shell producers are really going to get hurt with this price drop , but i think we have to really put it in

micron, down 4%. nvidia down 6%. intel, world's largest chip maker, down 3.25%. qualcomm also down 2.5%., as you look at all of these names, you do realize, i know your trader talk is probably circling and swirling around this, the sentiment around these technology stocks, because you can pick up chips and you can sell them. those are goods like what goldman was saying. >> exactly right. if you look at the nasdaq, you just went through some of the semiconductor names, this is as a group the biggest weight on the nasdaq. if you look at all 11 groups that comprise the s&p 500, the weakest one, technology. followed not surprisingly by industrials and consumer discretionary. consumer discretionary interesting, especially given some of the conversations i have had here, people reminding us what we do know, we are paying for the tariffs, american companies are paying for the tariffs and there is some concern just how long this goes on before the u.s. consumer feels it and begins to spend less. you are seeing that show up in the markets as well. let's take a look at some of the dow's biggest mo

micron's falling from 43 to 44 that's a popular stock 318 to 272 that was red hot from 119 to 101. texas instruments, 117 to 104. qualcomm, 176. analog devices 116 to 97 and sky works solutions, a great company, from 91 to 68 that is an astonishing amount of pain to inflict on u.s. companies in order to make a statement that we're not going to let huawei get ahead of us in the race for 5g. some of these chip makers get 5 to 15% of their sales from huawei this is a big deal to shut them down from this account hard to believe huawei can continue to be the fastest growing cell phone maker in the world without android. not a good news for alpha either speaking of 5g, the fcc is going to bless t-mobile's merger with split even though a merger is inherently anticompetitive because it's the only way the wireless competitors can compete the in 5g. the deal needs approval from justice department it's possible it will be blocked because even with both companies promising not to raise mergers for three years, it's a tough sale if justice disdoes it, it's because the president wants to dominate in 5g it is so important to him, stran

micron, skyworks, nvidia. the fallout effect is clear. neil, there is bullish case, bearish case to be made about qualcomm itself.cally this company will have tough sledding ahead for a long time. others say you know what? qualcomm is important to building out 5g. that is something that president trump and the administration cares about. so it will be protected in the long term. in the meantime, neil, back to you. neil: in the meantime a messy ride. thank you very much, deirdre. >>> latest between t-mobile and sprint whether the two will get together, enter the justice department as a gate crasher here. charlie gasparino with more breaking news. >> another messy situation. earlier there were reports that the justice department staff, the staff of the doj antitrust has decided they will oppose the deal. they recommended a lawsuit to block it. here is what we know as of now. that doesn't mean it will not change later in the day, as of now, from what we understand, that is the staff, the policy guys. the makan delrahims of the world, head of the antitrust division, his immediate staff makes the decision whether to g

micron all down between 2% and 4% today. other names in the tech and chip spaces also taking a leg lower included intel, qualcomm, and nvidia all down under 3%. just an hour ahead of the close, guys we'll be back with more. back over to you >> great stuff thanks very much for that. meantime, some breaking news on the fed. let's get to steve liesman with that hi, steve. >> the federal reserve out with its new financial 125b89 repost report the fed saying asset valuations are high relative to historical ranges and investors are showing a high appetite for risk equity market prices somewhat elevated but real estate cap rates, that is the price, the rents relative to the price of the real estate at historically low levels borrowing by businesses historically high relative to gdp. the fed not too concerned with household borrowing saying it remains modest relative to incomes. and the thing the fed is most worried-b the largest u.s. banks, the fed says they remain strongly capitalized along with broker dealer leverage substantially below precrisis levels funding in the financial system are low. european stresses pose some risk to