'In our view, more price deflation and lower interest rates will activate coiled equities,' Wood said in an X post.
Ark Invest CEO Cathie Wood believes stocks are ready to spring upward with easing price pressures and lower interest rates on the horizon. "In the fourth quarter, as the Fed's dot plot began pointing to much lower interest rates, the bull market in equities broadened dramatically," Wood said in an X post Thursday evening. "This far this year, the opposite has happened. In our view, more price deflation and lower interest rates will activate coiled equities.
There have been some incremental signs of progress on inflation lately, as the consumer price index for April showed inflation running at a 3.4% annual rate, slightly below the March level. Excluding food and energy, the core CPI came in at 3.6%, the lowest since April 2021. Wood's performance has been disappointing over the past few years. Her flagship Ark Innovation ETF tumbled 67% in 2022, then rebounded nearly 68% in 2023. Year to date, the fund is down about 17%.
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