5 things to know before the stock market opens Friday

5 things to know before the stock market opens Friday

Here are the most important news, trends and analysis that investors need to start their trading day:

Bitcoin and other cryptocurrencies sank Friday as concern about Biden raising U.S. capital gains taxes on the rich led to a wave of selling. Bitcoin, which hit an all time high near $65,000 on April 14, sank 6.5% to under $50,000. That's a 23% plunge in a little more than a week. The crypto market value, half of which is bitcoin, dropped $200 billion in just a day. Bitcoin went below a $1 trillion in market value as the global crypto universe slipped below $2 trillion, according to price-tracking website CoinMarketCap.

Pat Gelsinger, CEO of Intel, speaks in Santa Monica, Calif., on March 9, 2017, in a photo taken when he was CEO of VMware.

Intel late Thursday delivered essentially flat first-quarter sales and a drop in profit in the first earnings report under new CEO Pat Gelsinger. The Dow stock declined more than 2% in premarket trading, though Intel's per-share earnings and revenue did beat estimates. Gelsinger, who took over in February, announced a plan earlier this month to invest $20 billion in new microchip manufacturing plants. Dow components American Express and Honeywell delivered quarterly