Carl Quintanilla, Jim Cramer and David Faber explored the pullback for stocks despite states taking additional steps to reopen their economies and Pfizer posting better-than-expected quarterly results and boosting its COVID vaccine sales forecast -- this as the FDA is expected to authorize the vaccine for use in adolescents aged 12-15. Stocks rotating out of big tech names such as Apple and semiconductors. Two words the anchors focused on regarding the markets and many earnings reports: "inflation" and "shortages". With the chip shortage in the spotlight, Intel said it will invest $3.5-billion to expand its New Mexico manufacturing operations -- and Taiwan Semiconductor reportedly set to build additional chipmaking factories in Arizona beyond the one currently planned. The anchors also discussed Bill and Melinda Gates' decision to divorce after 27 years of marriage but continue to work together on their charitable foundation. Breaking news out of Ford: The company reporting a 64.8% surge in auto sales for April, including record demand for electric vehicles. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com
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Squawk on the Street