Tracking the Nasdaq Sell-Off, U.S. Investigates Tesla’s Autopilot System & Blade CEO on the Quarter

TechCheck

CNBC

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

4.5 • 66 Ratings

🗓️ 16 August 2021

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Our anchors start off the show with CNBC’s Dom Chu comparing the tech and communication sectors as the major indexes come off record highs. Then, Plexo Capital’s Lo Toney joins to share his take on the market and where he sees opportunity in the tech sector after strong second quarter earnings. We also have Evercore ISI’s Mark Mahaney on why Uber is taking Amazon’s spot for their top mega cap pick. Next, we have CNBC’s Lora Kolodny with the details on the U.S. investigating Tesla’s autopilot system. Plus, Wedbush Securities Analyst Matthew Bryson joins to kick off our new series ‘reality check’ and share his bear case on Intel. Later, Rocket Companies CEO Jay Farner is here to speak about the company’s latest quarter and expansion into solar. Plus, Blade CEO Robert Wiesenthal joins live from the NYSE following the company’s latest earnings report.

Transcript

Click on a timestamp to play from that location

0:00.0	I'm John Ford.
0:00.8	You're listening to CNBC's Tech Check.
0:02.9	Our show is live weekdays at 11 a.m. Eastern.
0:05.9	Listen in.
0:37.7	Good Monday morning. Welcome to Tech Check. I'm Carl Kintanio and Dear Grubosa. John Ford has the morning off. Today, a sell-off in tech stocks to be bullish on today amid this drop-off. Plus, the U.S. government opens a probe into Tesla's autopilot system. We're watching Elon's Twitter,
0:44.1	of course. Later on, Uber over Amazon, why one analyst is changing his top buy on the street,
0:44.3	Dee.
0:51.7	Carl, we start with stocks after a week of record hides for the S&P and NASDAQ. Stocks are largely in the red today, led lower by selloff in the NASDAQ.
0:55.1	It was down about 1% last I checked.
0:58.3	Wall Street, though, continues to remain bullish on tech.
1:01.8	And if you miss the hottest names in that sector on the way up, well, today might be your second chance to get in.
1:06.4	Dom Chu has a look at those stocks and where there might be some opportunity, Dom.
1:10.1	All right.
1:10.4	So a lot of the opportunity has come in some of the parts of the market that have not participated
1:15.1	as much in the upside within technology and within communication services, Deirdre Carle.
1:21.0	The reason why we want to show you this is because if you look at the relative performance
1:24.3	of the S&P 500 technology and communication services sectors.
1:29.3	Technology has been a market performer.
1:31.2	You can see here roughly the same amount as the overall market on a year-to-date basis.
1:35.3	Communication services is a decent amount of outperformance by about 4%, 400 basis points worth of that.
1:40.7	But near historic highs, these two sectors are key because they represent such a
1:45.1	large part of the overall market. Now, there are roughly 100 stocks in those two sectors combined.
	...

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.