division after it, so, i am hoping, i'm hoping that at some point we can all come together and realize we're americans first and let's focus on what makes us the same versus what makes us different. charles: beverly halgerg, winner s and losers i appreciate it as i pass it over to migrate friend ashley webster in for liz claman, you've got a friday rally, my man, what are you going to do with it? ashley: i do, i'm going to take it to the finish line, charles payne, he says hopefully, thank you very much, charles, appreciate it. wall street indeed doing an about-face after yesterday's capital gains tax temper tantrum is what we're calling it markets bouncing back as business activity expands at a record pace this month, the s&p 500 by the way, just points away from a record close, it needs about 51 points to do the trick and guess what? it is up 51 points. we are right there. new home sales also giving the bulls a reason to run. marseilles hitting its highest

level since 2006, so we'll find out what's really happening on the ground, when we talk to the ceo of coldwell banker, ryan gor man. the emergency meeting at the cdc over johnson & johnson's coronavirus vaccine still going on at this hour, our panel of top vaccine experts will layout j & j's path forward and if it can put its blood clot problems behind it and we'll also go straight to the white house for the fall out over president biden's plan to boost capital gains taxes on the wealthy to support his american family plan , but first, let's begin, why don't we, with the real estate market. a serious lack of pre-owned homes on the market is helping boost sales of single family homes which surged to 20.7% to a seasonally adjusted rate of just over 1 million units last month, pretty darn impressive, ryan gor man, ceo of coldwell banker real estate joins us, he

is here to tell us, ryan, if this red hot housing market is showing any signs at all of cool ing off. what do you say? >> well, i certainly don't see any signs of cooling off in the numbers you just spoke about and what we've seen publicly reported thus far. demand seems extremely strong for all of the fundamental drivers, families looking for more space inside and out, people able to work remotely a little more than they did before , demand off the charts, and inventory, we're taking listings at about the same level we were a year ago, but demand is just so much higher and we've sold through so much of it that it's down about one-third in total inventory right now. ashley: it's interesting, isn't it? because existing home sales for march actually was down nearly 4%, the second month of declines, and the slowest pace we've seen since last august, so , that probably, to your point , reflects a supply problem , rather than a demand problem. >> we certainly have a bit of a supply problem, fortunately the builders are helping a little bit, i wish they could build more and build faster but

we've seen the builder rates increase in both the application s for new construction as well as under contract but certainly, nowhere near enough and they couldn't possibly build enough to meet the demand taking place today, so, when we do coldwell banker surveying out there we found about 20% of all existing homeowners are contemplating selling in the next year, which would help tremendously, however they're holding off for a couple reasons. one, some fear of covid which as vaccines rollout hopefully that comes down and those properties come on the market. the other is this tight market, as a seller they're wondering if they will have a place to buy so we certainly need them to bring that inventory on to solve that problem. ashley: you know, of course it's just basic economics, when supply can just cannot meet demand, prices go up. are the prices now starting to eliminate some people from being able to buy, especially first home buyers, are they being priced out right now, ryan? >> well the price increases have a couple of different effects, one of which is it's significant enough that we found that more than a third of those

we surveyed saw the value of their home increase enough they are contemplating selling when they weren't previously but for those buyers you mentioned out there, first time home buyer s you can expect a difficult search process and you've really got to be prepared , have a good advise or for sure, make the strongest possible offer, first time home buyers are seeing elongated periods of time before they are transacting something like 40 or 50% are taking more than a year to ultimately buy so if you got the right advisor and a strong offer price then you should be able to find the home that you need. ashley: well, it sounds good, ryan but i've heard and i'm sure you've heard many many stories of these bidding wars break out. someone says i'll give you 10% over your highest offer, someone says the same thing, and it just goes on and on, and are we see ing that side of the business cool down or is that still going on? >> we're continuing to see multiple offer situations with a lot of folks suggesting that they can make an all-cash bid which certainly makes for a

very strong offer. i don't see the multiple offer situation ebbing too much right now, we still have a little more inventory come on, but i did market checks in the past few days and we've seen a little bit less of that, but you should still be prepared to face a multiple offer situation for sure. ashley: what's the craziest story you've heard, ryan? you've got to have one. >> i have quite a few that are not yet closed so i probably shouldn't say but a couple come to mind really in utah, one of the many very hot markets out there but utah has a lot of folks coming in from higher average sales price markets so they are finding relative bargains in utah even if you taw isn't doing it as that so we saw $1.4 million listing go for $1.8 million in an all-cash bid that closed just a week after the listing, now i'm not saying the contract was accepted i'm saying the closing was done, so a lot of strong bidders are offering to close in very short periods of time today. ashley: those californians can drive up prices everywhere.

where else is hot right now? texas i would imagine, florida, those are the two big one, right >> so certainly the areas that have a lot of inbound migration, so you name texas, florida those are two, georgia is high on the list as well, utah is not too far behind but some of those markets that aren't necessarily seeing a lot of inbound migration but they have good affordability, so central pennsylvania, pittsburgh, really throughout all of ohio, you're seeing days on market of listings at less than a week, which brings it into the territory that's more like an austin or an atlanta. ashley: it really remarkable what we're seeing, ryan gorman, thank you so much for bringing us up to speed. we appreciate it. >> thanks for having me. ashley: all right, well, it's a cruel, cruel, summer as the song goes especially if you're looking to rent a holiday home, a house by the way on long island's gold coast, the hampton s, rented for an eye popping $2 million for the season. that's just silly money, right? well, joining us from the jersey

shores version of the hamptons, spring lake is lydia hu. what kind of deal can i get or is it too late? reporter: hi, ashley. you know, if you haven't already made a reservation, you probably are not going to get one, and if you do, it's probably not going to be a good deal. we, like you said, are in spring lake, new jersey. and to give you a sense of the community it's a little more than an hour outside of new york city. realtors tell me there are about 1,200 homes in this beach-side community and they said by february, almost all of the inventory was booked for vacation rentals. right now, only about 11 properties show any vacancy for this summer vacation time. listen to this. >> we are so busy. a couple of my agents have done almost 30 rentals this year, just summer rentals. it's just crazy. i think we've been found. i think we're a little treasure here at the jersey shore and

we've been found out by, you know, the urban climate up north reporter: and this is driving prices here also she told me the realtor told me that before the pandemic, a beachfront home could go about $27,000 for a week. now they're looking at around $35,000, just to give you an idea of what the demand is doing to prices, but it's not just here in new jersey, as you mentioned, in the hamptons they're seeing demand in prices, rates go up too about 10-20% there, cape cod also seeing a surge in demand up about 30% according to vrbo, and in florida, realtors tell us some of the rates are near double the pre-pandemic price points, now just given the surge and the fact that so many people are traveling to florida right now, and all this , as you've been discussing, is really driven by the demand and low inventory, at least for the vacation rental side. inventory is low right now, because for folks that own the homes, they're working in

them since you can work from anywhere, and given that, who wouldn't want to work from somewhere beautiful like this? ashley? back to you. ashley: sign me up, lydia. looks beautiful on the beach in the jersey shore, thank you so much, appreciate it. >> all right let's move on, american express investors getting fired up in a bad way, coming up next, our floor show traders will tackle the first quarter spending shocker that has the financial services giant sinking into the red, and also we'll talk about the stocks you should really be giving credit to here in the final hour. let's check the big board very quickly, as we head to the break , the dow up 266 points at 34, 083, not bad, and the "claman countdown" is coming right back.

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ashley: credit card giant american express, one of the biggest drags on the dow today, following a miss on first quarter revenue, the stock down nearly 2%, while revenues came in at 9.1 billion for the first quarter, it was down 12% from the same period last year, a big

reason consumers of course spending lesson travel and entertainment during the covid lockdown. the company saying on the earnings call that this year is a transition year, and will be, they will focus on rebuilding momentum this year so, let's bring in our traders, scott for man and phil flynn, gentlemen welcome to you both. scott let me begin with you is this a transition year for many companies or will companies like amex start to see the benefit of the economy reopening especially with regard to travel. >> i think it's both. i think that you're going to have a bit of a transition year, people are going to be spending differently in the future. people are working from home more than they have in the past, so they won't be having the expenses that they've had going to work as much, but they're still going to be buying things that they need to do business, and they are still going out and they will be going back out to restaurants and

taking clients out but also, we've noticed that travel is picking backup again, and that spending on those cards is going to increase and also, new businesses going to be taking out new cards as well. ashley: that's a very good point , phil what kind of plays do you like in the rebound stock s? american express stock falling today because of the missed revenue number, but things should get better from here, right? >> they should, i mean things are opening up. i know that people are going out , they're going to be using that plastic a little bit but i do think it's a transition in the credit card space because of what's happening and with cryptocurrency. i think they can't deny that a lot of people, especially young people, you know, like spending money in a different way. visa, for example, which i think their earnings are coming out as well, you know, they're already embracing the cryptocurrency space, offer ing their own cryptocurrency, and i think american express, when they are talking about a transition here, may have to get into that same

thing, because what's happening with plastic and the world of digital currency, you know, might be like old brick-and-mortar. if they don't adapt to the new technology, the plastic maybe a thing of the past and i think that they are going to have to do that in this new year. ashley: scott, what's your thought on the crypto? bitcoin down to around 50,000, is it a buying opportunity or don't you touch it with a 10- foot pole? >> well it's funny. the cryptocurrencies have gotten so popular and they got very popular very fast and ran up, i think they just got very over bought here. they're going to come down, i think it becomes a buying opportunity but i also believe they still remain very very volatile and not for the faint of heart. ashley: interesting. you know, phil flynn, i want to stick with crypto, and by the way we're going to have more on cryptocurrency with charlie gasparino later on in the show, but its becoming, do you think, so mainstream now,

that as you mentioned maybe american express should get involved. has it gone beyond the tipping point? >> i think, i don't know what you mean by the tipping point but yeah it's here and you can't deny. ashley: acceptance. >> yeah, absolutely and i think you're seeing that right now, and i think companies like american express and central banks around the world are looking at this digital currency and saying we can't get left out this is a new iteration and it's not just about bitcoin, it goes way beyond that it's about the technology of the way we're going to do business in the future and how many people carry cash in their pocket any more, right? everybody used to have a wad of bills. nobody cares bills, because you have so much you have to put it somewhere, but most people, you know, they don't carry cash any more. at some point they might not carry plastic anymore, and they might just get digital numbers or whatever to pay, and i think that's coming now, and i think that the credit card companies

have to adapt to this new technologies. ashley: i think no one carries cash or change for sure. no one wants change any more, forget about it very quickly, scott. is there one sector more than any other that you like in this environment? very quickly. >> yes, the transport. the transports have been just absolutely on fire, and i think they are going to stay that way. we're seeing railroads rise, we're seeing airlines go up. this is a sector, as the economy recovers, has to benefit. ashley: very good, and look at the dow transports up again, 1.5 % today. thank you so much, scott fullman , phil flynn, it's friday , gentlemen, enjoy the weekend. thank you so much. >> thank you. ashley: big thumbs up, thank you guys. could president biden's tax plans unleash more economic blow back than boom? the startling numbers you have to hear to believe on the tax rate that many of us across the u.s. could be paying, oh, boy. we are live at the white house

next, as we head to the break of course let's take a look at the big board, the dow up 276 points , a great way to finish out the week. we will be right back. ♪ ♪ (upbeat music) ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ that building you're trying to sell,

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ashley: fox business alert, sketchers winning the earnings race in today's pop stocks the footwear maker hitting its highest point in more than five years today, after reporting better-than-expected earnings and revenue growth, sketchers also beating full year estimates as growth in china and as e-commerce business surges, as you can see , wow. shares right now, up 15.75% not bad. well from one sneaker giant to another, nike in the green, despite losing gymnastics super star simone biles to athleta, owned by gap by the way the four time olympic gold medalist and most decorated gymnast ever

announcing the move via instagram praising athleta's support for women and being "a force for good" earlier this week the kobe bryant estate also ended its 20 year relationship with nike and nike though unaffected by this , up three-quarters of a percent today but down more than 3% for the week. gap shares, by the way, up 3% on the week and up today more than 2.5%. spotify upping the ante in the podcast wars the streaming music giant countering apple's paid podcast subscription service with a new one of its own set to launch next week, but unlike apple who will take a 30% cut on fees spotify will be letting its content creators keep all of the subscription fees, so there you have it, spotify up 7%, apple up 2%. this latest jab coming after spotify participated in a contentious anti-trust hearing wednesday on apple and google's app store policies, as you can see , both those stocks moving

higher today, although spotify up very nicely at $284 a share, and shares of paper giant kimberly-clark, also should be getting, well, hit rather hard today and as ku see down 6% after low lowering its full year guidance, winter weather also hurting first quarter results on both the top and bottom line, competitors clorox and p &g also under pressure today but it's kimberly-clark having the biggest hit down 6%. all right president biden planning to layout his american family plan next week. that plan includes about $1.5 trillion in new spending and tax credits to help fight poverty and reduce child care costs. now the white house plans to pay for this by hiking the capital gains tax up to 43%, blake burman is at the white house and tells us what support and what opposition there is to all of this on capitol hill. blake? reporter: hi there, ashley i'm

told at the white house that the expectation is when president biden puts fourth this plan that it will include on the side of how to pay for it , raising the capital gains tax rate to that 40% range for income over $1 million. keep in mind here, the white house hasn't put forth any details yet, yet alone a fleshed out plan so there's still a lot of questions here including whether or not this will be for investment income alone over $1 million, ordinary income plus investments over $1 million, if it were to get through legislatively would it start in 2021 or 2022, still lots of questions here, but the white house is beginning its sales pitch and that includes making the case that they say this would only impact a very tiny percentage of taxpayers. >> what i can say it'll only affect people making more than $1 million a year. that's .3% of taxpayers or three out of every 1,000 taxpayers, that's even the 1% so other net worth is by

$4 trillion in the middle of a historic pandemic so he has bottom lines of where he will not budge. reporter: but there are many critics who say this is the wrong move, for example, the republican senator pat toomey said the following in a statement, ashley writing in part, "we should be encouraging more capital investment, not less. this is a terrible idea and it should be, he says, roundly rejected. " keep in mind, ashley that the president campaigned on this and so its been modeled, and when you look at raising the capital gains tax rate up to 39.6% and pairing that with tax treatments, according to the tax policy center they say that could cost about $370 billion over a decade, the tax foundation is higher at 469 billion. i don't know if you could see me , hello. ashley: there you are. reporter: back to you. we'll see where this goes. ashley: [laughter] very good. blake burman, but the voice lived on. that's the most important thing, blake. thank you very much.

all right let's move on why not, j & j, let's take a look at that stock what its been doing for the week. it could play a key meeting today on the future of its vaccine. there it is, it's up what half a percent or thereabouts for the week, but the future of its vaccine use here in the u.s. could be make or break as far as the cdc and fda. they're going to make a decision on this vaccine should you take the vaccine, if it is put back into use. we're going to ask those questions and many more to the doctor, by the way, who help ed run one of the key studies that got j & j passed its final hurdle, and also, netflix pandemic star on vaccine guru will be along as well, we're going to talk all about these vaccines next but as we head to the break let's take a look at the market as we say a lot of green on the screen, the dow up 300 points, s&p and nasdac fully up now, well over 1 %, we're coming right back.

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ashley: the cdc advisory committee is still in discussion s of whether the pause on the johnson & johnson covid-19 vaccine should be reversed. according to a joint statement from the cdc and fda, as of april 12, over 6.8 million j & j doses have been distributed in the u.s. until its abrupt pause last tuesday over health concerns. now new reports just hours ago show 15 people have experienced blood clots due to the j & j vaccine up from the original six cases that have been reported and now j & j took a sharp hit last week after its vaccine pause as you can imagine but has since rebound today the stock is up about half a percent so the question is when will j & j vaccines get back into action? and actually be administered, let's bring in dr. renailed pana

tieri, professor of medicine at robert wood johnson medical school also joining us dr. jacob glanville, founder and ceo and president of centervax, and of course star of the netflix docuseries, pandemic let me begin with the european regulators decided to lift the pause on j & j in the eurozone but also deciding to put a warning label on the doseage. is that something you could see happening here in the u.s. and then j & j being allowed for use in the united states? >> yeah, so first and foremost, we know these vaccines are incredibly effective. we've seen the benefits of the vaccine, especially the j & j vaccine. the real question is what is the risk? in any medication there's risk. could a botched warning be placed? well that could be a very conservative approach, if you think of the numbers of patients

who develop blood clots versus the almost 6.5 or 6.7 million who have received it. it is an incredibly uncommon adverse effect; however, -- ashley: let me follow-up very quickly. according to research done at oxford, the same blood clot issues were noticed with moderna and pfizer in very small numbers , four per million, and but it also occurred in covid patients in 39 per million, so my question to you is, why was it that j & j's vaccine was pulled and the other two not, based on these findings? >> well it's a very important question. i think in the case of the j & j vaccine, there was a cluster of cases that occurred, unlike the moderna and pfizer consequences where they were

spread out. when you get a cluster effect like that, one wonders what does that really mean, are we going to see 10 times that next week so i think that that's probably what pulled the trigger. ashley: okay, let me bring in dr. glanville. doctor, look, we not only have we followed the spread of covid but the variants that come along with it. we've seen what's going on in india and a brazilian variant and the uk variant. is there, in the future, a sharp universal type comprehensive shot that will take care of all of these or in fact do they already exist with pfizer, moderna and j & j? >> sure, so, you know, we currently track about 650 different variants of the most important part of the spike protein. those are going to continue to grow. the virus mutates and the current vaccines they almost all work pretty well against the variant.

az has had a problem against the south african strain but even for the strains that mutate these vaccines will continue to provide protection. that said, moderna and pfizer are both anticipating creating modified booster shots, to what we do with influenza. overtime, that will be necessary we'll need to modify our vaccine s but the vaccines, they elicit antibodies and t-cells and both work on many different places on the virus so even though you have a little bit of reduction of efficacy those vaccines should provide us a good amount of protection and now we're better-positioned to adapt them in the future as the variants do arise. ashley: but does that prediction wear off and do we know if perhaps beyond six months we start to drop-off and we really need that booster shot, or is that just being figured out as we go along? >> so there's two things there and i'll address your question about a universal vaccine shot. so there's two thin things that happen. one is the virus mutates and the other is after you get any vaccine, overtime, your antibod ies and your immunity

slowly wanes, so for both of those reasons you eventually need a booster shot, even things that don't mutate we create booster shots every couple years here, we are anticipating the need for a booster shot. there's two reasons like i said one is actually don't know how well people's immune response will remain at a loss of antibodies a year later so we're still learning that, hopefully we have a couple years but we don't know if that's true and the second is we do know this virus is mutating and we already know there's multiple strains out there that reduce the protection. now, i work, my company, we work on influenza creating a broad spectrum vaccine and there are companies as well as others looking at the coronavirus to try to do the same things we're doing in influenza but for the coronavirus to be able to produce a broad spectrum vaccine which teaches the immune system to target sites on the virus that don't mutate so easily and that would protect us in the event we are stuck in a position of having to take annual booster shots to provide something to get multiple years of protection. ashley: very good.

dr. penetierri, let me bring you back in. what does the cdc do in your mind? i get the sense you think it that the j & j vaccine is a good one, despite these health concerns. do you think they will lift the pause, so to speak? >> well, yes, i think they will lift the pause, i think the date has been analyzed, its been examined. the question is with the lift of the pause, as you mentioned, will it be a boxed warning? in a very conservative manner, the box warning exists in many drugs that we use against chronic disease, and it's a risk /benefit ratio that the provider will then need to make that decision. the issue though becomes if there's a boxed warning for the j & j and not for other vaccines, will that really differ en she alley push people to have a preference, right? so that has to be weighed in the

decision. ashley: yeah, it's interesting. dr. glanville, finally to you. have we turned the corner do you think on covid, are we getting close now, i guess i want to call it herd immunity where we are now start to relax, or is this just going to be a part of our life from now on? >> yeah, let me touch for a second, maybe put your viewer's mind at ease a little bit around the j & j vaccine and then i'll talk about the future. so i want to describe some numbers to you. we know that this virus, it's one in three to one in five people infected and in the hospital they end up getting blood clots so you're at a very high risk of getting blood clots if you're infected. these vaccines, you know, we're talking about say 1 in 300,000 cases so literally 100,000 times more likely to get a clot if you're infected. a couple of these vaccines are showing these rare but serious clots but in my mind the cost benefit ratio is very clear that the vaccine is going to protect you from the much higher risk of clots if you get sick. ashley: right. >> i think we can look to what happened with the az vaccine where it was paused in europe

and opened up again for the same reasons i think we'll see that same effect with the j & j vaccine that the risk of getting infected is so much greater with respect to clots than the vaccine that the good out weighs the risk. now with respect to the future, it's going to get better but it's going to be here for a while. so i think there were some people hoping that this was all just going to go away in six months. that's not what's going to happen. we don't have enough vaccines for the whole world and we won't in the near future. the virus is continuing to mutate and even if we had enough vaccine for the whole world there's too many people refusing to take the vaccine so that means that we won't establish herd immunity in our nation at this point and certainly not globally. now what we can do is reduce the rate of spread by having as many people as possible vaccinated and when we reduce the rate of spread, that also slows the rate of mutation, because every time a new person gets infected that's a new chance for the virus to mutate. we will have better medicines at the hospitals to treat people who get sick and we'll have people that have these vaccines that will slow the spread, but

this , and we should be prepared for this to be a part of our daily life for the next few years to come. ashley: all right, wool have to leave it there, but terrific information, thank you so much, both dr. penatierri and dr. gla nville, thank you for bringing us up to speed, we do appreciate it. we have this fox business alert california governor gavin newsom has told state energy officials to end fracking permits in california by 2024. he also told the state to analyze pathways to phase out oil extraction by no later than 2,045 year that news just out of california. now this , we've been talking about the chip shortage for months and you'll never guess how long the ceo of intel says it's going to last, yikes, we'll tell you next, also check the big board, nice rally to finish out the week the dow up 300 points. we'll be right back.

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ashley: a report out today shows one of the world's biggest cryptocurrency exchanges binance is having user trouble, according to the website crypto briefing, many binance users are struggle together get their accounts which have been frozen since last year, that's not good. they've been unlocked but they're not getting adequate customer support, we understand, crypto briefing says they are waiting on a response from binance, as you can see , bitcoin today, prices down over 1,000 down $11 at 50, 846. joining us now, charlie gasparino, whose been following the cryptos very closely.

charlie what you got? charlie: i think this goes beyond binance, which i keep thinking every time you say binance i think of bitedance, which is tiktok, but this goes beyond what's going on in crypto today we should point out that bitcoin dipped below 50,000 for much of the day today, it bounced back a little backup. it's something else going on here, and it's from what i understand, and this is talking to major investors, it's fears of a severe correction that's starting to spread through the markets and i'm not saying that's definitely going to happen. i'm just telling you that people are scared. tons of rumors out there that are perkolating prices most of the rumors are not founded in any reality or at least any stated reality as of yet, but clearly, you know, there is a fear that when you see stuff like this , and i tell you, ashley, you're probably not as old as i am, i'm giving away my age here, but i do remember the dot com crash and before it

crashed in 2000 after nasdac peaked above 5,000, by the way, 5,000 was a lot back then, that was the nasdac is at 14,000, but as it peaked above that there was like tons of rumors about companies and people can't get financing. lots of rumors were wrong, some of them were right, but the market corrected itself, and we're seeing some of the similar stuff seeping into this market right now, and i think one of the issues that is plaguing crypto right now is pending regulation and just how far out on the regulation scale that the two main regulators of crypto, which be janet yellen the treasury secretary and gary gensler, the. isec chair, how far they will go out, we don't know exactly how far they will go out. the rumors are all about how far they will go out. one rumor actually had janet yellen throwing an 80% capital gains rate on cryptocurrency, i find that impossible to believe, but it hurt stocks yesterday, or excuse me, hurt prices

yesterday, and it was part of the depressing prices today. again, no basis in fact, treasury is not common, but it's not part of the current budget leaks that we're hearing out of the biden administration that just pure rumor, but clearly, what we're worried, investors are worried about here is a major correction, something that kind of, here is the thing, ashley. if bitcoin went down to 30,000, we'd all be running around with our hair on fire, right? but guess what? that be twice as much as it was probably a year and a half ago. it still be , so just put this all in context. this stuff is probably here to stay, wall street is getting into it in a big way, but there is widespread fear of a correction and the corrections, if it's lasts as long as dot co m ashley you're talking about a couple years before it comes back. ashley: yikes! by the way, charlie i was in my prime during the dot com crisis but i was 30 years old so that

was just plain weird, charlie gasparino. charlie: i was in my 30s. i kind of remember what it's like. ashley: well there you are. we're about the same. we don't want to go down that road. charlie, happy friday to you. charlie: you too. ashley: thank you so much. moving on to this , intel falling to the bottom of the dow , s&p, nasdac at this hour, weakness in the chip maker's cloud computing and data center sales, plus a dollar forecast on the global chip shortage hitting shares hard down 5.5%. ceo pat gelsinger telling bear ons round table host to the the chip shortage has been stall ing out auto production and even apple's ipad and macbook production may not end anytime soon. take a listen. >> our estimates are probably two years for the industry to work through it because as you say it takes a while to build a fabrication, or a fab, as we like to call it in the industry. we've just announced two major new fabs in arizona, and meaningful acceleration to our

manufacturing capability, but it takes a while for them to come on line. ashley: takes a while, you can see more of pat gelsinger's interview on roundtable at 10:00 and 11:30 p.m. eastern only on fox business. now, guess who joins us? the host of kudlow, larry kudlow , no less. larry, what the do you think of this two-year chip shortage forecast from intel ceo, surely that could be sorted in sooner than two years. come on. >> it can. look intel is a great company but as you probably know, ashley , its fallen behind badly in the last couple of years. it's just falling behind and i will say something else that you may not link it but look, if this country is going to keep assaulting investment and capital formation, by raising corporate taxes and capital gains taxes, and cutting back on expensing, then they're not going to build the plants and we're not going to get an an

added supply and not help the semiconductor industry and by the way just government giving money of $500 billion subsidy or whatever they think they're going to give, that's not the way to do it. that's a one-time thing. we should create incentives for private investment which could pour trillions back into the semiconductor industry. you know, these advanced design chips are precious. it's the heart of our economy. what makes america great is our technological advances. that's what drives us, but if we're going to tax and penalize our companies, whose going to build anything for heaven sakes so that's my concern; however if we just stay on the straight and narrow and run incentives and let private enterprise do it, ashley, then i think you could beat the two-year thing by quite a lot. ashley: i think we can. let's hope someone is listening to you, larry kudlow. thank you so much, larry and by the way, kudlow airs at the top of the hour, of course,

republican senator john hovan of north dakota will be his special guest that's "kudlow" weekdays at 4:00 p.m. eastern here on fox business. all right, our closer putting down his joystick when it comes to game stop but it's not the only glam stock he's ending the game on the names you need to be selling and buying in the final minutes of trade, the dow up more than 200 points as we head to the break. the "claman countdown" is coming right back. is almost at the finish line what a ride! i invested in invesco qqq a fund that invests in the innovators of the nasdaq-100 like you become an agent of innovation with invesco qqq my name is douglas. i'm a writer/director like you and i'm still working. in the kind of work that i do, you are surrounded by people who are all younger than you. i had to get help somewhere along the line

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i knew about the tremors. but when i started seeing things, i didn't know what was happening. so i kept it in. he started believing things that weren't true. i knew something was wrong, but i didn't say a word. during the course of their disease around 50% of people with parkinson's may experience hallucinations or delusions. but now, doctors are prescribing nuplazid. the only fda approved medicine proven to significantly reduce hallucinations and delusions related to parkinson's. don't take nuplazid if you are allergic to its ingredients. nuplazid can increase the risk of death in elderly people with dementia related psychosis and is not for treating symptos unrelated to parkinson's disease. nuplazid can cause changes in heart rhythm and should not be taken if if you have certain abnormal heart rhythms or take other drugs

that are known to cause changes in heart rhythm. tell your doctor about any changes in medicines you're taking. the most common side effects are swelling of te arms and legs and confusion. we spoke up and it made all the difference. ask your healthcare provider about nuplazid. ashley: well its been a so-so week for the market and our countdown closer is warming investors of volatility will continue and the sell-in may and go away strategy just might make sense, morgan creek capital management ceo, mark, explain yourself. you can use volatility though, right, to hedge a portfolio. >> absolutely, great, great point, and i think now is the

time to think about that in a normal year, the months from may to october, usually lose a little bit of money and you make all your money in the other months. i think this year, given the heightened volatility and the heightened valuation it might be time to think about adding some volatility through something like vxx as a hedge in your overall portfolio. ashley: very good. all right let's move on. we've been talking a lot about bitcoin, today, down as we mentioned, but you're still pretty bullish on bitcoin and ethererum. what's your strategy and thinking on that? >> yeah, very bullish on bitcoin and ethererum as kind of the core protocols for what we refer to as the internet of value and we're in a long term bull market, it's a natural pullback. there were some people using too much leverage, remember leverage can never make a good investment or a bad investment good, but it can make a good investment bad if you're forced to sell at the wrong time, so i think you

should buy what's on sale, things like gbtc might be a good example in the markets to buy some bitcoin. ashley: does the reports of the capital gains tax hike, does that play into any concerns when it comes to bitcoin in particular? >> sure. higher taxation threats are always going to be tough on highly-valued assets or assets where people have accumulated a lot of gains. i think it's probably unlikely to get through congress, but we'll see. the one thing people have to keep in mind is u.s. tax law only affects about 20% of the owners of cryptocurrencies. most of the activity is outside the united states. ashley: right that's a very good point, very quickly, you like energy stocks i've got 20 seconds which one in particular? >> i love fang, diamondback energy and i think fang, the company, facebook,

amazon, netflix, google over the rest of the year. ashley: very good. you got it all in, mark yusko, thank you so much. our closer today, we can hear the bells ringing, the dow up 231 points, not bad. >> [bell ringing] ashley: dow and s&p snap a winning streak "kudlow" is next. >> larry: hello, everyone welcome back to kudlow, i'm larry kudlow great pleasure to be with you. stocks today closed higher across-the-board, mr. market has apparently decided president biden's sweeping tax hikes won't be passed. well, we'll have to see about that, because remember, folks, democrats will have two bites out of the 51-vote reconciliation process to jam the tax hikes through. so i say caveat enter, be warned anyway, i'm still suffering economic shock from yesterday's bad earth day. it was bad, because president biden announced a 50% cut in