seagate became the biggest manufacturer of disk drives in 20 years.e were the center for disk drives. we never looked back. the other side of the coin, i came up with the idea that people would come here and explore the region. it is a dangerous region with pestilence, malaria, typhoid. here in singapore, we will create a first world oasis out of this island. it was a third world island. we will create a first world condition. charlie: from first world to first? lee kuan yew: yes. so that they can base camp here and venture out. when they are sick they can come back. so we had first world standards of infrastructure, roads, airports, seaports communications, health schooling, personal and public security. later on, we added concepts, but the basic was first world. that was easy. the hardware. the difficult part was getting the population behaving like a third world to start behaving like the first world. charlie: that is what i want to know. how did you do that? lee kuan yew: people use to make fun of us because foreign correspondents used to watch us

some of the big drags on the nasdaq has been micron hp and seagate down 18% to date.ogy is weighing on the nasdaq although it was just last week when the nasdaq broke 5,000. so we'll continue to keep an eye on it. the focus has been on the out performance of european equities. some encouraging data coming out of the euro zone today. investors taking a breather. zetra dax down 48 points. italian markets trading flat at the moment. >> of course a focus has been on the currency space. the euro dollar trade catching the attention of traders right now at 106. gaining a bit of ground against the u.s. dollar. we should point out the year to date chart. you can see the euro continues to weaken against the dollar. you can see it down about 12% against the dollar. so far this year aggressive ecb action and that's pushing the euro down. that's supposed to help bring inflation up at some point. that's what the ecb is hoping. we'll see if that pans out. for now wilfred over to you. >> thank you very much. do you think the euro will hit parity with the dollar. if we do see it when?

bypass taiwan, hong kong they came to singapore, texas instruments, hewlett packard they all came seagate and it became the biggest manufacturer of disk drives in 20 years we were the center for disk drives and computer parts and computer peripherals. we never looked back. then as we corroborated that, the other side of the coin i came up with the idea, look, people are going to come here and explore the region, and it is a dangerous region, i mean pestilence, malaria typhoid. here in singapore, we will create a first world oasis out of this 89, it was a third world island, but we will create a first world condition. >> rose: third world to first? >> yes. so that they will base their, they will make camp here and then venture out and when they are sick they will come back and -- will be left here. so you had first world standards of infrastructure, roads, airports seaports, communications, health schooling, personal and public security. we added concepts, but the basic was first world. that was easy, the hardware. the difficult part was getting the population as behaving like a third worl

same with western digital and seagate. they're all down for the year. many down double digits and they're flashing red for the whole personal computer component sector. does this mean they're finished? that there's some sort of secular decline? hardly. it just means these particular companies are into the personal computer. and not the revolution connectivity which is the most powerful trend today. it's about as strong as i can ever seen it. a fantastic leadership cohort. it's dominating all tech at a time when software hardware and the internet and some clock stocks are churning. first and foremost i like sky work solutions. a dom thants parts maker for cell phone which is is the main way we get our information. sky works run by david aldridge is all that's good in the semi world and can be found in smart homes, smart cars t the wearables, these are the frontier of the future. if there are going to be 70 billion connect devices by 2020 it's probably the best place to profit from the revolution. sure it could be like a bio he tech but you have to buy it

kla-tencor, seagate. also micron. micron in particular has come into play here.hese were down, four, five, 6% throughout the week. mike con people watching it lose market share to samsung. analysts say they need to spend more on technology to beef it up. down arrows for the group in particular and down arrows for the week. back to you. liz: nicole, thank you very much. david: good news and bad news in the jobs front. unemployment is down, that's good but wage growth is essentially flat. how does this work out on the ground floor with the job creators? let's ask some of them. we have carlos. he is sergio's family restaurant ceo. maury taylor, titan international chairman and ceo, and chris mcfarland, master g ceo. gentlemen, good to see you. mahre are you, let me go to you first. what do you make of these numbers overall? >> well you want to keep your doctor? you want, to you know, i don't believe them that is the first thing. david: you don't believe the numbers at all this personally, are you hiring, are you firing, keeping it flat or what? >> no. we, we've had

seagate provides the equipment that will help companies in terms of storing massive amount of data. we're seeing more and more streaming services. that means more data. seseagate provides the high density disk the crisidrivesfor that market. the company has great cash return to shareholder policy. the company is buying back shares and it yields 4% right now. very attractive. >> just to show i can argue any side of an argument if need be. after arguing that interest rates will be hiked up, let's talk about what's happening to overall interest rates. we have the ten-year down below 2% again. it looks like the markets are betting on no rate hike. correct? >> yeah, i would say that is the case. and, you know, when you look at what's going on in the treasury markets over the last 15 months or so or since the beginning of 2014. will them everyone came into the beginning of next year thinking rates will be rising. they've been doing anything, but that. the exact opposite. a lot of that isn't just what's going on in the us with our central bank, but it's artificially suppressed rates specif

seagate down earlier and has been trading to the upside all throughout the morning.or the glass half full today. carl? >> i'll take it from there, bob. thanks. up next more than ever are streaming their content on-line and a lot of that is thanks to the birth of one service in particular. seven years ago today. we'll explain in a moment. first rick santelli, what are you watching today? >> jon, i'll tell you what i'm watching. weak retail sales up 196 on the dow we will talk about that and talk about the fed, kind of like a small aircraft trying to land and take off with the wind instead of against the wind and last but not least, the main event, is going to be growth versus jobs. where's the disconnect. all after the break. yoyour friends have your back. your dog's definitely got your back. but who's got your back when you need legal help? we do. we're legalzoom, and over the last 10 years, we've helped millions of people protect their families and run their businesses. we have the right people on-hand to answer your questions, backed by a trusted network of attorne

tech, big names, pc the storage space like seagate ulall to the downside.oints. >> news we got yesterday, of course, made the deal that valeant has to acquire salix more interesting. of course, put it in some question. talking about the news out yesterday that endofarm sus cals, though participated in the auction of salix and bid 150 a share, most in stock, decided after not winning the day, because valeant paid 158 in cash decides to come back and did so yesterday in a letter it sent to salix's board of directors offering $175 a share, 75% of that in stock, endostock the rest in cash. it does have bank of america signing confident letters saying it will be there for the financing. one would not doubt that would be the case. they haven't paid for financing at of yet. this may have the impact of certainly how forcing valeant to have to raise its bid. that would seem to be something at least at this point, given they have a tender offer out there. a stock trading at 168. tenor's at 158. they haven't gotten heart scott antitrust approval yet but that is expect

how about intel chip micron chip, microsoft software, seagate drive. there was a pujdzer of products. would i never take a chainsaw to apple because that would be horrendous, but what you -- everything is proprietary in apple. there's nothing that is anything anybody else has. >> you can't mimic it. >> that's the greatness. it's a proprietary system. samsung will do something to kind of say, wow, you know it's -- and samsung chips are in a lot of apple -- in the end apple is an ecosystem. there was no dell ecosystem. there was just a box. >> what dell had was replicatable by others. >> yes. >> as was their manufacturing approach, which was at the time a break through. >> you can't knock this thing off. it's very very hard to knock off and to get something that mimics an apple and they're not doing it in china and not doing it here. >> certainly one of the big questions with the apple watch is whether or not it will actually help all wearable devices because it will bring it so much into the mainstream because of the must have things that you carry arou

i'm concerned, merrill starts western digital and seagate with sells.s is pc-related versus nxpi. what is that? your wallet, that's your auto. those are insect secular increase. as it relates to best buy, they managed to get margins up and sales up. >> good job. >> feel comfortable enough with some capital distribution right? stability? >> congratulations to them. >> generating cash. returning cash to shareholders. >> i asked you whether i felt that whether the bubble would happen. a couple of articles, both in "wall street journal" and "new york times," the consumer isn't spending. it's the consumer minus -- who is 45,000 and below is spending but the best buy number made me think go pack to charlie scharf find out what these big credit card companies, whether seeing the binge. >> you said last week it was an important number at best buy to gauge the consumer. give me your -- >> positive. >> positive? >> just positive. >> good number. >> just a really good number. i just was gratified. i think that they're -- they've made a big comeback. hand it to the

there's tech, i want to show you, intel, seagate, western digital, down yesterday.onally today. world markets, very important week here. look at this germany, up almost 2% near historic highs. italy at historic high. japan, you guys were talking about that 15-year high. china near 2008 highs, up 4% this week. so, the real action is occurring outside the united states in terms of price gains. finally, want to note on the retails, some good news bad news. aeropostale had a wider than expected loss mall traffic, the forecast is disappointing. so aeropostale is on the downside. a couple of other names on the upside. ann taylor had a decent number. and ulta salon, fantastic number, excellent same-store sales. both of those stocks ulta and ann, trading to the upside now. dow's down 65 points coming off the lows. back to you. >> thanks a lot. bob pisani. over to the bond pits. rick santelli at the cme. good morning, rick. >> good morning, carl. we all know that the data on inflation probably was not offense but defense, probably deflation might be the word people would use

seagate getting some negative analyst coverage. disappointing results from mylan labs.techs are also being sold off except for some of the diet drugmakers. back to you. dark chocolate all the way. that is millennial food. always and forever. >> talking snacks all day here on "closing bell." you know nasdaq 5,000 has us looking back to the dotcom boom and before there was the nasdaq before there was the tech boom there was prodigy. there's a name i haven't heard in forever. a dial-up service. it was the start of the future. i remember they asked me to do a chat on prodigy probably 1993 '92. i had no idea what that meant. i had no idea what was going on but we did a chat with cnbc viewers on prodigy. >> it reminds me of that katie couric bryant gumble commercial that aired during the super bowl. >> and then about.com sprung up. >> it was eventually sold to "the new york times" but founder scott kurnit the marn behind about.com and prodigy became a serial tech starter-upper it says here. he joins us to talk about nasdaq's return to 5,000 and the state of the tech economy t