Nasdaq Sets Longest Losing Streak Since 2019, HashiCorp CEO Dave McJannet on Results & Binance to Stop Supporting Rival USD Coin 9/6/22

TechCheck

CNBC

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

4.5 • 66 Ratings

🗓️ 6 September 2022

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Our anchors begin today’s show with CNBC’s Mike Santoli analyzing the Nasdaq’s longest losing streak since 2019, and Fundstrat Global Advisors Managing Partner Tom Lee breaks down his expectations for the second half of the year. Then, our Julia Boorstin reports on Ireland’s data privacy regulator issuing a $400 million fine against Instagram, and Puck News Founding Partner Bill Cohan discusses why the buyout of Citrix might be the most important deal of 2022. Next, CNBC’s Courtney Reagan reports on the death of Bed Bath and Beyond CFO Gustavo Arnal, and HashiCorp CEO Dave McJannet discusses the software company’s latest results. Later, CNBC’s Kate Rooney covers crypto exchange Binance’s plans to stop supporting three rival stablecoins. 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 Carl Kintanilla. You're listening to CNBC's Tech Check. Our show is live weekdays at 11 a.m. Eastern.
0:05.9	Listen in.
0:08.5	Good Tuesday morning. Welcome to Tech Check. I'm Carl Kintania with Dear Drabosa, John Ford, and Julia Borsden.
0:13.9	Today, the end of summer slump continues. NASDAQ has seen its longest losing streak since the pandemic began,
0:20.3	although the S&P and Dow have turned around.
0:22.5	Where tech goes from here, why Tom Lee is still bullish.
0:25.6	Plus the biggest deal of the year?
0:27.3	Probably not your first guest, why one of our guests says to keep an eye on private equity this hour.
0:32.3	And finally, investors looking for the next read on tech demand.
0:35.8	Look no further.
0:36.7	The latest ahead of a big product event for Apple tomorrow.
0:40.3	And even more when we go to Code with the CEOs of Apple, Amazon, and Alphabet all set to speak this week, John.
0:46.7	Yeah, Carl, but let's kick it off.
0:48.9	Today's feed with the NASDAQ in the red yet, as the index sees its longest losing streak since 2019.
0:56.4	Senior markets commentator Mike Santoli joins us now to help break down the action.
1:00.9	Mike?
1:01.7	Yeah, John, and the macro pressures remain, as we know, across the market,
1:05.8	hitting tech and high valuation growth most profoundly.
1:10.0	Take a look this year at the U.S. Dollar Index compared to the S&P tech sector.
1:14.7	Pretty consistent inverse correlation. Obviously, the dollar index moves are less dramatic,
1:19.3	but not only do you see them being mirror images, but even in the shorter terms, when you see
1:25.1	dollar index hitting a new high and then going on a new
	...

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.