seagate down 7.6% right now. intel above the already expected range. mobile eye on the nasdaq -- that's a cool new graphic. mobileeye having a nice day. look at that, plus 30% and visa is leading the dow after the profit beat as payments volumes surge, and people tend to like the guidance halliburton higher after wells fargo upgraded the stack to overweight, raised their price target to $52 a share. stock up 36.5. so they expect continued research growth despite an extremely tight market right now why have stocks suddenly popped. some will say it's the recent sort of flattening or down move in interest rates. others say, no, no, no it's earnings and guidance, others, meaning this guy, thinks maybe it's a little end of fiscal-year window dressing from mutual funds so which is it we've got colonel bob pisani at the nyse let us start by you. make the case for rates being the real market mover. >> you've made a very good synopsis there, because the end of the fiscal year for many large institutional funds is a big deal, but i certainly do think that as you

seagate, net 5 networks, two of the worst performers on the s&p 500. both with weaker outlooks and questions ultimately, contessa, about demand. >> brian, meta is arguably the biggest earning after the bell alphabet reported an unexpected slowdown spotify, also reporting slowing ad growth which followed snap's poor sales performances as companies cut their marketing budgets. wpp defied the downturn and raised the growth target so is there a storm underway in the digital ad market? how can investors play that? what are they going to listen for from meta? let's ask experts evelyn mitchell, emarketer analyst and ed lee, "new york times" media reporter and cnbc contributor. great to see you both today. first of all, evelyn, how worried should investors around meta be about what we've seen from other companies reporting their ad sales >> yes so things are a little tough in the digital ad market right now. it's reckoning with a host of chal loengs including evolving consumer behaviors, difficult macro economic conditions and ongoing effects of apple's privac

supply and demand will reach an equilibrium and they will stay profitable, now is the time you buy seagate. so they should earn about $5 a share next year, trading about ten times earnings if i'm a little bit wrong, they have a very long history of keeping up their earnings through thick and thin so while you see the stock price go like this, the dividend goes like this and you can kind of count on it, you're buying it over 50% from its high it certainly deserves in the long-term to be a lot higher now. >> would you say the same for western digital? >> except they don't have a dividend anymore my goal was to create a 5% dividend stream on a portfolio so i really have a narrow -- >> we're going to talk semis after the break. the semis have soared this week but now a major warning this time from amd. is the worst still not over for thisro e investment committee weighs in that's coming up next on half time we're back in two minutes. municipal bonds don't usually get the media coverage the stock market does. in fact, most people don't find them all that exciting. but, if you're looking for the

. >> we are talking to craig seagate. our program ends at 10:00. if you are in the time zones, it is -- eastern time zones, "washington journal" continues. --(202) 748-8001 --(202) 748-8000. if you have been impacted by hurricane ian, it is (202) 748-8002. guest: i get asked this question, why do we have to wait for a disaster to find how bad it will be? machine learning is used to have a better understanding on how disasters impact. how does it affect the infrastructure? we look at the function versus the building and go, -- earthquakes and high winds, how are they impacted and as we saw florida with the extreme rainfall, one of the things we looked at is how do you forecast the impact of extreme rainfall that goes beyond the flood insurance rate reps -- rates maps. places that have never flood it will flood and can we identify that and look at hospitals and other infrastructure. host: you mentioned the flood insurance program. that program has a borrowing authority of a $30 billion limits but it is a rope and that is often in -- program that is o

senator warren doesn't like it, seagate technology.ess demand, softening demand and they came out after disappointing earnings and said we are cutting 8% of our workforce which is 3000 jobs so softer business conditions and they see a lot as they provide data storage. >> the supreme court ruled vaccine mandate for new york city's sanitation workers in this unconstitutional. madison allworth on staten island, this is a good start, fill it out for us, what does it mean for all city workers who have been fired for not getting the jab. >> this would mean all public city workers in new york fired for not getting the vaccine will be given the opportunity to get their jobs back so that would be huge, sanitation workers decision is far from over. it will be heard in the appellate ct. in new york. we spoke to a lawyer who represented dozens of cases pro bono related to vaccine mandates. he is claims why sanitation workers and other public workers who have not gotten their job back despite this decision, take a listen. >> the city and all its el

. >> this goes exactly to our conversation last week when i i bought seagate the stocks have already bottomed and that gets into this -- i can't even speak today -- this a s symmetrical experience we're having i do not think you should just buy spiders today. if we're going to talk software i do not think you should buy software, i do not think you should buy semis you can find individual companies, and so you can always buy those now. and if your point is correct that it's going to be long, which i think it is and we're in the bottoming process you don't need to rush to do it. you can actually your take time and do your research where for the past five years you've had to scramble. >> you're sort of walking where i wanted to go with steph, because you added to broadcom. it's taking a look around and it's the second, fourth time you've added to this position you've had and have liked in a space that's challenged. even in an uncertain macro why now? >> the trade is at 11 times earnings and yields about 7% i have confidence in the earnings in the "e" which is what you're asking about b

. >> okay, thank you seagate must be yours?ng about hard and soft landings i think that those are happening asymmetrically and asynchronously i think some things have already bottomed and this is one that i think have bottomed. we have 5% dividend yield, you get to buy it cheaper than i did last week, 11 times in a business that just has insatiable demand for hard disc drive storage. >> that's to your point earlier, you might be able to get things a few dollars cheaper, but if you're a long-term investor, it's not going to make much of a difference see you later on today, everybody. "the exchange" now >> welcome to "the exchange. inflation does not seem to be going anywhere just yet. the consumer price index rising more than expected consumer prices, the big one that's due out tomorrow. all while signs here point to more than fed tightening as the bank of england still easing, trying to pump more money into the system we'll examine the fallout and try to connect the dots. the nasdaq once again underperforming, but trying to sna

cupertino based seagate technology has announced. it's cutting about 3000 jobs 8% of its workforce, according to the bay area news group. it's part of a restructuring plan that's aimed at reducing costs due to less demand and buyers of technology cutting orders and amid fears of a worsening economy. sea gate is a data storage company. fired you rebates on tuesday night last night in several key states, where racist for senate and governor are getting close and closer. but as molly henneberg reports from washington, with many people having already voted , the question now is whether these debates will make a difference. in the pennsylvania senate race between democratic lieutenant governor john fetterman and republican dr mehmet oz much of the analysis after this sole debate was focused on letterman's ability to handle the fast paced back and forth after he suffered a stroke right before the democratic primary in may. camp said he had a quote. great debate. john spoke better tonight than he did in the primary team, said federman is to

craig seagate, you've got coming on. host: 40 minutes.st: he was a state emergency manager before he started running fema. host: he was in florida. guest: not a lot a better places to prepare. those state emergency managers, there is a training ground -- a step before you get to something like fema. the state make these plans for hurricane response, i was talking to the king county executive, where seattle is. i was talking to them about earthquakes. earthquakes are a big deal in the pacific northwest. the big one is what everybody fears out there. these mayors, county executives and governors sit down with each other and do the tabletop exercises to prepare. where do they need to pre-position the supplies they are going to rebuild? that happens everywhere across the country. it happens in areas prone to hurricanes, areas prone to floods or earthquakes, anything like that. the first people that are going to be there when ian hits, it is not fema, and is not the feds, it is your local police department, or state troopers paid through the s

seagate technology holdings says it will cut 3000 jobs.appening. is it too soon to say that we will not see those broad-based tech cutbacks? neil: i think you are seeing those cutbacks but there is also lots of job openings. those people are transitioning relatively ugly -- quickly to new implement opportunities. the median spell for unemployment is very low. maybe less than 10 weeks. i think a lot of those people may be getting layoffs. not to say the news is fake, but the fact that continuing claims remains low, tells you that those people are transitioning into new jobs pretty quickly. jonathan: what do you make of this step down argument? 75, 50, 25? neil: i think that is implicit in the fed's dot plot. every time they hint at a mini pivot, the market rips, breakeven rates go up 10 points. that's a problem and makes the pivot less likely. i do think the risk is that they end up doing more than what they have already signaled in the dot plot. i wouldn't be surprised to see a fed funds rate well north of 5%. i think we are on a glide pat

. >>> check out shares of seagate technology they are taking a hit after missing estimates on top andnow separately we should say sea gate had been warned by the government they had violated export control laws by selling disk drives to unauthorized buyers buyer, china's huawei technology so it's going to be a case perhaps to keep our eye on there. joe? >> haircut this morning. coming up, a former t.d. ameritrade chairman, joe moglia. ♪♪ age before beauty? why not both? visibly diminish wrinkled skin in just two days. new crepe corrector lotion only from gold bond. champion your skin. our internet isn't ideal. my dad made the brillant move to get us t-mobile home internet. -which... we have to share our signal with the entire neighborhood. yeah, now we do some weird things to get our speeds. well... i'm up. -c'mon kids. this sucks. well if you just switch maybe you don't have to be vampires. whoa... -okay, yikes. oh sorry, i wasn't thinking. we, uh, don't really use the v word. that's kind of insensitive. we prefer pro-lunar. yes, much better. >>> welcome back to "squawk box. new this