UPDATE: ARK Innovation, Dr. Burry, the Yield/Equity Push-Pull and Monkeypox

By Staff Reporters

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Cathie Wood’s ARK Innovation fund composed of high-growth tech stocks is up 17% since hitting rock bottom on May 11th compared to the S&P’s 4.4% gain over the same period.

Americans are burning through their savings and might virtually exhaust them within months. Colleague Michael Burry MD warned the US economy could suffer once consumers empty out their savings accounts. “The Big Short” investor expects rising debt and reduced savings to hit growth and company profits.

The push and pull between bond yields and equities continue with stock gains kept in check by a drop in Treasuries that pushed a swath of rates above 3%.

The CDC raised its alert level for Monkeypox to level 2 recommending that travelers wear masks, among other health measures.

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