Morning After the Sell-off: Capital Gains Tax Hike Fears, Bitcoin Tumbles Below $50K, Intel and the Chip Shortage -- Stock Falls Despite Q1 Beat, and Wrapping Up The Week's Earnings Parade
Carl Quintanilla, Jim Cramer and David Faber discussed what's next for stocks after Thursday's sell-off, sparked by fears about President Biden's plan to hike the capital gains tax rate to 39.6% for those Americans earning more than $1-million. They also talked about a note out of Goldman Sachs that says the final capital gains tax increase likely will be much less than Wall Street fears. Those tax fears playing a role in Bitcoin tumbling below $50,000 for the first time since early March. Intel also seeing its stock slide despite first-quarter earnings that beat analyst estimates. The anchors reacted to what CEO Pat Gelsinger told Jim Cramer about the global chip shortage. Other earnings movers in focus: American Express (especially on the travel spending front), Honeywell, Snap, Mattel and Kimberly-Clark -- what do their results tell us about the recovery?
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