micron's ceo sanjay mehrotra joins us next week to discuss in more detail. >>> investors continue to monitor what's been a volatile housing market, yields taking a breather >> about a half hour into trading on the first day of the quarter, the dow is up 99, ism manufacturing for june came in new orders, contracts, 49.2. employment contracts keep an eye on that, as you see stocks come in construction spending is also down let's bring in art cashin to talk about the data, the impact on the market, certainly yields this morning, art. good to see you. happy friday what do you make of the seemingly quick shift to now focusing on growth >> yeah, i think the market is sensing some surprises it's been a very frustrating week, carl as you may recall, the end of quarter rebalancing was going to give us at least mild plus tech closes, and we didn't accomplish that at all. and we had to struggle to get to the -- so i think the market is trying to interpret things i'm concerned about the dip in yields here. you know, it would be great if, as everybody said, commodities are going down, a hint that

. >> sanjay mehrotra, we got a good taste of what you're talking to those lawmakers about. thank you very much for joining us today >> thank you, sara >> the ceo of micron in d.c. today. >>> we'll talk more about the chips act and how quickly it can get through congress when we are joined by commerce secretary gina raimondo. plus the nasdaq 100 has been on a hot streak up more than 12% from its lows of the year. a closer look at the names that are driving this rally and the stocks that are sitting it out check out some of today's top searched tickers netflix today takes the -- unseats the ten year yield amazing. i don't think we've seen that in months netflix rallying 6.4% off less worse subscriber numbers than reported but the ten year is number two and we are above 3% we're seeing another sell-off with yields pushing higher tesla ahead of earnings is rallying a little, 1.3%. that's coming after the bell apple and the s&p 500, which is now up three quarters of a percent, building on the gains in this final hour of trade. medium latte, half-caff, no foam. quite the personal

, you get that up to 60, 70, i know -- and then you're absolutely right, and you have to buy, sanjay mehrotraf micron. you were much more positive here than on the conference call. i tend to make you see positive, but i think that was a good run-through, and i thank you so much. >> thank you, jim, thank you >>> the dow is down -- the long bond, 3.05, haven't seen a dip below -- micron one of the dozen or so s&p names, only one dow name is green. that's nikes we'll be right back >>> we have the dow down almost 600, all the sectors on the s&p are red. energy down about 2 1/2. about 3752, we are right at friday's intraday low, about a half hour into the trade we're back in a moment >>> jim, what's on mad tonight >> best and worst for the first half, obviously well dominated, i wouldn't be surprised if oil doesn't find a level, but not today. today is just a day of despair, a little despair. >> nowhere near the may lows. >> no, no, but -- >> you're taking this very hard. >> we have a lot of people who want the stock market higher and feel there's no hope. >> hope is not lost. >> crypto is lost, b

. >>> micron shares picking up this morning, but ceo sanjay mehrotra is bullish, saying he expects a pickup >> micron is taking concrete actions in terms of limiting our supply and bringing the return to the demand and supply environment sometime in fiscal year '23 the long-term demand trends are holding. we just delivered a record quarter and we are on our way to deliver a record fiscal year >> it's been a rough first half for chip stocks and supply chain issues have weighed on the sector the smh now 40% off the highs of the years, headed a bit lower today as nvidia, devices amd, a lot of other names hit 52-week lows, carl all kind of relative, though, right, because they have been soaring so high in the past. and a lot of this is out of sync with the commentary that we've heard from marvell, from qualcomm, sharing in the cloud >> as john says, the broadbased weakness in semis, but the researches in the amax >> they are looking for the long term and switched to what he called high value solutions, some of those sectors that will see growth in the years ahead. also focusing on how qu