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TechCheck

Recapping Apple’s Product Launch Event, President Biden’s Executive Order on Crypto & Space Force Chief of Space Operations John Raymond on the Russia-Ukraine Conflict

TechCheck

CNBC

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

4.566 Ratings

🗓️ 9 March 2022

⏱️ 44 minutes

🧾️ Download transcript

Summary

Our anchors start today’s show with CNBC’s Dom Chu breaking down the last volatile few days in tech trading, and Daring Fireball blogger John Gruber joins to recap Apple’s recent product launch event. Next, Wall Street Journal reporter Dave Michaels discusses his latest article on a federal probe into trades by entertainment moguls Barry Diller and David Geffen surrounding Microsoft’s acquisition of video game publisher Activision. Then, Sequoia Capital Partner Shaun Maguire talks crypto after President Biden signed an executive order addressing the regulation of digital assets, and CNBC’s Morgan Brennan interviews Space Force Chief of Space Operations Gen. John Raymond for his insight on the Russia-Ukraine conflict. Later, former VMware COO Sanjay Poonen weighs in on the performance of several cloud and software names, and our Julia Boorstin covers Disney employees and shareholders criticizing CEO Bob Chapek for the company’s response to Florida’s “Don’t Say Gay” Bill.

Transcript

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0:00.0

I'm John Fort. You're listening to CNVC's Tech Check. Our show is live weekdays at 11 a.m. Eastern. Listen in.

0:27.6

Good Wednesday morning. Welcome to Tech Check. I'm Carl Kintania with John Ford and Dear Durbosa.

0:36.4

Today, locked out of the walled garden. Apple introduces Friday night baseball, of course, without baseball, more on what's next for the company and the stock.

0:38.3

Then very dealers in a bit of a pickle. The.s investigates possible insider trading on this activation microsoft trade the author

0:43.5

who uncovered the scoop is going to join us this hour later on this executive order on crypto

0:48.0

has prices higher the president and bitcoin coming up next deep we're going to start with tech and what a rebound it is currently on the NASDAQ.

0:56.7

It's up over 3% more than 400 points.

0:59.2

Domchu has more and what has been and continues to be a very volatile week for tech.

1:03.5

Yet we continue to talk about this idea and use the words barren market because we are

1:08.8

still in close proximity to that pullback of 20%

1:11.6

or more from the record highs that we've seen. So for the NASDAQ overall, and specifically

1:16.2

the NASDAQ 100, the biggest companies in the NASDAQ, it has been a story of maybe not just

1:21.8

in the medium term. You can see there the downtrend. If we could talk about maybe it being more

1:26.3

of a one step forward, two steps back,

1:28.2

but the volatility has been so severe. It's been like two steps forward and four steps back.

1:33.3

That's how volatile it's been for the NASDAQ overall. And this particular ETF that tracks

1:37.4

the NASDAQ 100 kind of demonstrates that. Broadly speaking, the S&P 500 volatility index,

1:42.9

which tracks just how relatively volatile things are for the broader markets using options prices, is again, pulling back today, it's at 32.

1:51.0

But remember, we got to a high of around 37 during the Russia invasion, and then just kind of if you keep it in context here, the level 20 is more like the long-term average that we

2:02.8

are seeing here for the CBOE volatility index. So it's still very elevated compared to what

2:07.3

has been over the last 200 or so days. Within the industry groups that we are watching closely

2:12.3

for some of the volatility, you have to take a look at some of the more tech and tech-adjacent

...

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