Meme Rally Returns, Crypto Volatility, Boeing Deliveries Halted, Pres. Biden’s Budget

Carl Quintanilla, Jim Cramer and David Faber dig through the big market movers of the morning including the meme stocks. The Biden administration is set to release its first budget later today. Best Buy pointed to the hot housing market as one of the key reasons for strong sales in the fiscal first quarter. CEO Corie Barry said the company has a “unique advantage” by selling products and offering services, such as home installations. Some analysts, however, have cautioned that the retailer could see dampened demand as consumers spend less on technology and devices and more on dining out. Jim Cramer gives his take. CNBC’s Carl Quintanilla looks at the SPDR S&P Retail ETF and the stock that’s helping it move higher. Plus, Boeing fell 1.2% in the premarket on news that the jet maker had halted deliveries of its 787 Dreamliner. CNBC’s Phil LeBeau reports.