. >>> after the break, the ceo of wisdomtree is with us. its cloud computing etf losing nearly half this year. we'll dive into the state of the cloud and talk a new fund hitting the market stay with us >>> welcome back to "tech check. we continue to watch the intraday tape on the nasdaq on this final day of september and the quarter, putting together some gains of better than 1% in just a moment, we'll talk with the ceo of wisdomtree as they debut a new fund. first a news update with frank holland. >> ukraine is seeking to join nate to. president zelenskyy said he submitted an accelerated application after russia started the process of illegally annexing ukraine the u.s. is sanctioning more than 1,000 people and businesses connected to the russian invasion president biden said russia is showing contempt for peaceful nations everywhere with its phony claim of annexing ukrainian territory. >>> in moscow, putin signed a ceremony to sign the annexation treaties he said he would use all available means to protect the annexed parts of ukraine. >>

that stock down 10%, software getting rocked zillionth wisdomtree cloud computing etf down 6%.uys, a big part of this is encapsulating what tom siebel said, that is that customers are scrutinizing large deals, maybe more now than ever before. >> they are, sale cycles lengthening, something we also heard from bill mcdermott at service now several weeks ago. but first of all it's not all the same i want to note nutanix which had earnings, up almost 30%, almost. outperforming there. but, you know, some of these companies have individual challenges, problems, you look at okta, and, you know, integration of an acquisition, not managing the salesforce in the best way, c3 ai is switching to a consumption-based model and dealing with the sales cycles. but i think overall the macroenvironment is having more of an impact on the enterprise, at least at certain levels, than investors were hoping. so now i think part of what we're going to be talking about today overall is this recalibration of rip tides as things change quickly. >> how big is that >> you mentioned servicenow. saying that s

look at the cloud stocks, not so much they're being hit hard the wisdomtree fund on pace for its worstin june okta, the identity software company reporting better than expected quarterly results, but did warn it is re-evaluating some of its longer term targets because of unexpected problems integrating a recent acquisition. earlier on "tech check" the ceo discussed the impact the macro environment is having on that business listen. >> we are seeing a little bit of macro change, a little lengthening of sales cycles. but i think big picture-wise that's a very small part of our mixed results. we have a lot of corrective actions we're taking that will yield to positive momentum in the future. >> jon fortt joins us. after that nterview, jon, what is your big takeaway on okta and the cascade it's having across software >> well, sara, on okta they are arguing that the macro is just a little piece of it it's really their sales execution and how they weren't able to integrated this other company well enough and partly because of the macro environment, because the labor market is so tight, their

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. >> although we have a guest who might take issue with that, jon, focusing on software, the wisdomtree cloud computing a sharp drop this week, leaving some to wonder is now a good time to start buying in. joining us today wolf research director, talked about that exact topic. great to have you. are we in a period where companies are going to lean in to productivity, and hence rely on software, or is the trouble just beginning in tech >> we believe that there's definitely a drive towards productivity, and it's something that's been very important in the pipe labor market if the labor market does become a little bit looser we do feel that there will be cuts across the budget the first thing that goes is usually nice to have, rather than something that's day-to-day, important to your day-to-day job with. >> that sort of points to what tom siebel said, both on the call and on our air yesterday, that his consumer base is starting to run for the hills and scrutinize, at least large deals in ways that they have not in several years. >> absolutely. anything that's got long sales cycles, anythi

that stock down 10%, software getting rocked zillionth wisdomtree cloud computing etf