Cathie Wood's flagship ARK Innovation ETF (ARKK  ) staged an impressive rally on Thursday, with the fund posting its best day ever as growth stocks benefited from encouraging inflation data.

ARKK jumped 15% on the day, marking its biggest daily gain since its launch in 2014, after October's consumer price index (CPI) showed inflation had moderated on both a monthly and annual basis.

Thursday's CPI report fueled optimism that the Federal Reserve will begin to ease its aggressive rate hiking campaign as prices begin to stabilize in response to the central bank's tightening efforts.

That positive sentiment fueled a rally amongst growth stocks, which include ARKK's biggest holdings Zoom Video (ZM  ), Tesla (TSLA  ), Exact Sciences Corp. (EXAS  ) rising 14%, 7.4% and 9.2%, respectively. These three companies make up more than a quarter of ARKK's portfolio. Other stocks in ARKK's holdings like Unity Software (U  ), Invitae (NVTA  ) and Pacific Biosciences all rose at least 20% on the day.

ARKK's rally also boosted other exchange-traded funds in Wood's portfolio, with the leveraged AXS 2X Innovation ETF (TARK  )--which seeks to return at least twice of ARKK's gains-- jumped over 28% higher. The ARK Next Generation Internet ETF (ARKW  ) also rose nearly 14% to almost match ARKK's gains and the ARK Fintech Innovation ETF (ARKF  ) climbed 12%.

While the day's rally is impressive, ARKK is still down 58% year-to-date and bounced off a five-year low on Wednesday after the collapse of cryptocurrency exchange FTX and its failed deal with Binance.

That low seemed to be a buying opportunity for Wood, however, with the innovation investor buying up shares of her favorite companies like Zoom and Tesla on Wednesday. Wood also added to her Coinbase (COIN  ) and Robinhood Markets (HOOD  ) stakes amid the fallout of competitor FTX on bets that it may attract jilted crypto investors.