Here are the top news, trends, and analysis investors need to get their trading day started:
1. Stocks expected to bounce back after Biden capital gains hit Wall Street
Trader on the New York Stock Exchange.
Source: NYSEa
2. Bitcoin and other cryptos are sinking, saving US $ 200 billion from the world market
A visual representation of the cryptocurrency Bitcoin on November 21, 2020 in London, England.
Jordan Mansfield | Getty Images
Bitcoin and other cryptocurrencies plummeted Friday as concerns over Biden’s raising U.S. capital gains taxes on the rich sparked a sell-off. Bitcoin, which hit an all-time high of $ 65,000 on April 14, fell 6.5% to below $ 50,000. That’s a 23% drop in just over a week. The crypto market value, half of which is Bitcoin, fell $ 200 billion in one day. Bitcoin fell below $ 1 trillion when the global crypto universe slipped below $ 2 trillion, according to price tracking website CoinMarketCap.
3. Intel shares fall as sales, earnings slightly year over year
Pat Gelsinger, CEO of Intel, speaks in a photo taken as CEO of VMware on March 9, 2017 in Santa Monica, California.
Patrick T. Fallon | Bloomberg | Getty Images
Intel posted essentially flat first-quarter sales and a decline in earnings in its first earnings report late Thursday under new CEO Pat Gelsinger. Dow shares were down more than 2% in premarket trading, despite Intel’s earnings and sales per share beating estimates. Gelsinger, who took over the company in February, announced a plan earlier this month to invest $ 20 billion in new microchip manufacturing facilities. The Dow components American Express and Honeywell delivered quarterly results on Friday morning. Amex beat slightly in profit but missed out on sales. Honeywell hit both of them.
4. The CDC is considering two more cases while the advisory panel on the paused J&J vaccine meets
Johnson & Johnson’s Janssen COVID-19 vaccine will be stored in Chicago, Illinois for use with United Airlines employees at the United Clinic at O’Hare International Airport on March 9, 2021.
Scott Olson | Getty Images
The CDC Vaccination Advisory Board will meet on Friday to clarify whether to lift the hiatus on Johnson & Johnson’s one-shot Covid vaccine. In addition to six women who had rare but severe blood clotting problems after receiving the vaccine, the CDC is investigating two other possible cases: a deceased woman from Oregon and a hospitalized woman from Texas. Of the original six, one died and one became seriously ill. According to CDC data, over 8 million people in the US have received the J&J vaccine
5. SpaceX launches its third crew in less than a year and flies a reused rocket
A SpaceX Falcon 9 rocket carrying the astronauts from the Crew 2 mission will launch on April 23, 2021 at the Kennedy Space Center in Florida from Launch Complex 39A.
GREGG NEWTON | AFP | Getty Images
SpaceX launched four astronauts from NASA’s Kennedy Space Center in Florida on Friday morning using a recycled rocket and capsule. It is the third crewed flight in less than a year for Elon Musk’s privately owned space company. The astronauts from the US, Japan and France were scheduled to arrive at the International Space Station early Saturday after a 23-hour journey in the same capsule used by the SpaceX debut crew last May.
– Reuters and The Associated Press contributed to this story. Follow all market action like a pro on CNBC Pro. With CNBC’s coronavirus coverage, you’ll get the latest information on the pandemic.
