Cathie Wood’s ARKK ETF Heads for Best Day Ever as Risk Assets Surge
- ARKK, TARK and other Cathie Wood funds surge following report
- ‘This is a very highly skewed buy-day,’ says CEO of Webull
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Cathie Wood’s flagship fund clocked its best session on Thursday as riskier assets bounce following a softer-than-expected inflation report.
The ARK Innovation ETF (ticker ARKK) surged 15%, the most on record, after data showed that prices rose slower than forecast, which fueled bets that the Federal Reserve could dial back its aggressive tightening efforts. That’s good news for riskier assets that have been weighed down by the central bank’s rate-hiking efforts.