Breaking Down the Growth Rally, The Bull Case for Software and Semis & Tether CTO Paolo Ardoino on the Stablecoin Ecosystem 7/8/22

TechCheck

CNBC

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

4.5 • 66 Ratings

🗓️ 8 July 2022

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Our anchors begin today’s show breaking down the rally in growth stocks with CNBC’s Dom Chu, and Goldman Sachs Asset Management Portfolio Manager Brook Dane joins with his bull case for software and semiconductors. Then, Former Square Executive Chairman Jackie Reses offers her outlook for fintech, and CNBC’s Steve Kovach highlights the week’s gains for mega-cap tech names. Next, CNBC’s Steve Liesman covers recent comments from Fed Governor Lael Brainard on the crypto space, and stablecoin Tether Chief Technology Officer Paolo Ardoino shares his insight amid the broader turbulence hitting digital currencies. Later, our Julia Boorstin recaps her interview with Liberty Media CEO Greg Maffei from the Sun Valley conference, covering M&A, the expansion of Formula 1 and more. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Transcript

Click on a timestamp to play from that location

0:00.0	I'm Julia Borsden, and you're listening to CNBC's Tech Check. Our show is live weekdays at 11 a.m. Eastern, listen in.
0:07.9	Good Friday morning. Welcome to Tech Check. I'm Carl Kintania with John Fort and Dear Grubosa.
0:12.3	Today, growth stocks rebounding as investors weigh this relatively strong jobs number.
0:17.3	Got the S&P working on five straight gains. We'll talk about how it's impacting expectations
0:21.8	for rates and tech this hour. And then a closer look at Fang, specifically on this strong week.
0:27.3	Have we seen a bottom for names like Apple and Alphabet? And how will we know? Finally, call it
0:32.6	deja vu, the latest on the meme trade and why Musk's deal for Twitter is, quote, imperiledy.
0:38.7	Deja Vu all over again. We're going to kick off today's feed with that growth rally.
0:43.0	Investors weighing the likelihood of more rate hikes ahead given today's better than expected
0:47.1	jobs number. Tech stocks, they did take a leg lower at the open. We are seeing them move higher
0:52.5	just over the last hour. Kathy Woods's Arc Innovation Fund, take a look.
0:56.0	Now up 2%.
0:57.5	Domchu joins us with more on the action.
0:59.5	Dom, walk us through this.
1:00.9	That hotter than expected number wasn't supposed to be a good thing because it means more
1:04.6	rate hikes.
1:05.4	So the initial thought was that exactly, because we saw 10-year yields move up to that 307 309 range we're covering
1:12.5	we're currently hovering just around there right now this idea if you have a hotter jobs
1:17.1	number inflation is still part of the story interest rates go higher that means valuation should
1:21.8	theoretically be lower we did see that in the beginning but to your point in just the last
1:26.3	hour or so we've seen a bid come to the markets, especially in some of those tech stocks. Now, if you take a look at this through the lens of ETFs, we'll look at the QQQ, that particular ETF that we just showed you. It was going to show you that we were just around near the 50-day average price that we had for that particular ETF. So if we're kind of bumping
1:45.2	up against there now, some of the stocks that matter the most to the marketplace are actually
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from CNBC, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of CNBC and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.