Ark Invest CEO Cathie Wood on Inflation, Crypto & Tesla 10/4/22

TechCheck

CNBC

Faang, Investing, Management, Disruptors, Cnbc, Tech, Business, Technology

4.5 • 66 Ratings

🗓️ 4 October 2022

⏱️ 45 minutes

🔗️ Recording | iTunes | RSS

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Summary

Our anchors start today’s show with NYU Stern School of Business Professor Aswath Damodaran offering his outlook for valuations at current levels, and CNBC’s Leslie Picker reports on the state of the IPO market in Q3. Then, Ark Invest Founder & CEO Cathie Wood offers her outlook for inflation, cryptocurrency and her recent major investment in Tesla. Later, our Julia Boorstin reports on a series of new tools and formats unveiled by Meta, and Citi Managing Director Ron Josey weighs in on potential Q4 challenges for Amazon. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Transcript

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0:00.0	I'm Carl Kintanilla. You're listening to CNBC's Tech Check. Our show is live weekdays at 11 a.m. Eastern. Listen in.
0:09.0	Good Tuesday morning. Welcome to Tech Check. I'm Carl Kintanio with Deirdre Bosa and John Ford.
0:13.1	Today, markets are once again in rally mode. The bull is trying to make it two very big days in a row.
0:18.6	How should investors be thinking about this bounce? What are the reasons? The Dean of Valuation, Aswatra, Demodin is going to join us. Plus, what can Amazon tell us about Q4 and the overall market? We'll take a look at what they're seeing in terms of cloud, contracts, enterprise, inventories for retail, and more. Finally, you're not going to want to miss our exclusive with Arc Invest's
0:37.9	Kathy Wood coming up in about 15 minutes, buying more Tesla after that 8.5% drop yesterday, John.
0:44.6	Yeah, we got to continue talking about this rally we're seeing this morning. Semiconductors
0:50.0	outperforming once again, WCL Wisdom Tree, cloud computing ETF on pace for its best day since early
0:56.2	August meanwhile fang remember that up big as well but amazon the largest mega cap winner but
1:03.3	d this is a rally of the risky that's what's leading it stitch fix is up 14 percent a firm in peloton
1:10.7	up 12 block and Shopify, up 11.
1:14.1	And Bitcoin above 20K, you know, up 3%. No question that what's leading this is the stuff that investors over the past couple months, several weeks, have gotten very queasy about.
1:28.7	Yeah, those macro themes is what you're pointing to.
1:30.9	So rally of the risky, rally of the unprofitable, rally of the growth, whatever you want to call it.
1:35.3	It's those beaten down names that are higher today.
1:37.9	And just against that macro backdrop, I mean, you've got the 10-year yield down below 3.6,
1:42.4	the two-year getting closer to four. Those job openings
1:45.5	this morning, Carl, at the Fed, isn't quite focused on inflation as much as it is the job
1:51.7	market for their next moves. Some positive signs here, but we were here before, right? Remember
1:56.7	the beginning of the summer earnings? They weren't as bad as some were expecting. There was a
2:00.7	relief rally, but we hit new lows after that. So it's a good day to have Kathy Wood, Carl,
2:05.9	who has actually been buying in this environment. She continues on the dip. So we'll see what
2:10.7	she has to say about it. Yeah. Well, Bank of Australia cutting or hiking not as much,
	...

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