Nasdaq Falls to Lowest Levels Since July 2020, Meta Launches New VR Headset & PagerDuty CEO Jennifer Tejada on Women in Leadership 10/11/22

TechCheck

CNBC

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

4.5 • 66 Ratings

🗓️ 11 October 2022

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Our anchors begin today’s show with CNBC’s Steve Liesman sharing data from the New York Fed showing a sharp decline in one-year inflation expectations, and CNBC’s Mike Santoli breaks down the Nasdaq falling to its lowest levels since July 2020. Next, Madrona Venture Group Managing Partner Matt McIlwain offers his outlook for e-commerce, and our Julia Boorstin joins as she launches her new book – “When Women Lead” – on the advantages of female leaders. Then, Wall Street Journal Senior Personal Technology Columnist Joanna Stern previews what to expect from Meta’s upcoming high-end VR headset, and CNBC’s Robert Frank reports on Meta CEO Mark Zuckerberg’s massive wealth losses on the year. Later, CNBC’s Contessa Brewer also reports live from the Global Gaming Expo in Las Vegas, and our Julia Boorstin returns for a conversation with one of the leaders profiled in “When Women Lead,” PagerDuty CEO Jennifer Tejada. 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 Dear Joe Roboza, and you're listening to CNBC's Tech Check.
0:03.5	Our show is live weekdays at 11 a.m. Eastern. Listen in.
0:07.9	Good Tuesday morning. Welcome to Tech Check. I'm Carl Cantonea with John Fort and Dear Debosa.
0:11.8	Today, tech stocks hitting multi-year lows as the pain continues.
0:16.2	And those June lows shift into the rear view. How much farther can things fall? We'll talk about it.
0:20.7	Plus, from hardware to sales events, big techs, betting big on the consumer. But with meta down,
0:26.1	almost 5% and Amazon not far behind, is that a good thing? And then finally more on the biggest
0:31.1	movers of the day as Uber and Lyft slump on these regulation fears. Bernstein presses pause on
0:36.3	Roblox. Kathy Wood making a big new buy.
0:40.3	We'll get to all of that first, though. Some fresh eco data hitting the tape. Steve Leesman's got it.
0:44.6	Hey, Steve.
0:46.5	Hey, Carl, yeah, the New York Fed's Derbett Consumer Expectations, which has been recently followed closely for what it says about inflation expectations.
0:53.9	And some good news here.
0:55.2	The one year inflation expectations falling sharply to 5.4%. That is down three ticks in the lowest
1:01.5	readings in September 2021. On the other hand, the three year and five year numbers, which the Fed actually
1:07.5	is more interested in, a three year to 2.9 percent and the five year rising to 2.2
1:14.2	up 0.2. So that's going to have to be watched to see if that's a change because the Fed's been
1:18.9	following that. Now, expectations for home prices declining 2%. It's declining 2% down 110th.
1:25.4	That's the lowest reading since June of 2020.
1:28.2	Inflation expectations rose for gas, food, education, and rent.
1:32.4	And maybe the big headline here, spending expectations falling sharply to 6% growth over the next year.
1:39.0	That is down 1.8 and the steepest decline we've seen since the survey began and the lowest reading
	...

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