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Hall of Fame catcher Johnny Bench told CNBC that the headlines about pitchers using pine tar or other sticky substances on baseballs shouldn’t come as a surprise to fans.

“Yeah, they use pine tar, of course they use pine tar, everyone has used pine tar since I was a rookie in 1967,” said the former Cincinnati Reds catcher.

“Don’t talk up, these are the things the pitcher has to do,” said Bench. “A little bit of pine tar has never done any harm, come on. Hold on tight

Bench added that the baseball’s seam has gotten smaller since his pitching days – using a sticky substance on the ball gives the pitcher something to hold onto, he said.

MLB officials are considering cracking down as major league pitchers dominate more than ever. The league has seen six no-hitters this season breaking the 1884 record of eight.

Insiders say a problem might be what’s on the hands of the jugs, like pine tar or a sticky glue called “spider tack”. Last week the league suspended four minor league pitchers for illegally using foreign substances on baseballs.

However, Bench pointed to below average hits during a Thursday night interview in The News with Shepard Smith.

Jack Taylor | Getty Images News | Getty Images

Cryptocurrency is known for its volatility and some experts say that crashes happen on weekends.

“This has been a cryptocurrency phenomenon for several years,” said Stephen McKeon, associate professor of finance at the University of Oregon at Eugene and a partner at Collab + Currency, a cryptocurrency-focused mutual fund.

Those weekend slumps can have a significant impact as regulators weigh the future of the digital currency, experts say. Here’s why these crashes can happen.

Less trading on the weekend

One of the reasons cryptocurrency is volatile over the weekend is because there are fewer trades, said Amin Shams, assistant professor of finance at Ohio State University in Columbus, Ohio.

“When the volume is small, the same trade size can move prices a lot more,” he said.

With banks closed on weekends, there is less trading as investors may not be able to fund their accounts, McKeon said.

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“There are moments of market panic when there is a lot of pressure to sell,” he said.

Typically there is a rebound on Sunday evenings when Asian banks open and on Monday when US banks follow suit, McKeon said.

There are also cryptocurrency influencers like Tesla CEO Elon Musk who “wave a heavy hand across the crypto space,” said Tyrone Ross, CEO of Onramp Invest in New York.

When Musk tweeted something negative about Bitcoin outside of business hours, it could spark a wave of activity.

Trading on margin

Another reason for price fluctuations over the weekend could be investors trading cryptocurrencies on margin, which is where money is borrowed from the exchanges to buy more assets, Shams said.

When digital currency prices drop below a certain level, traders have to pay back the loan in what is known as a “margin call”.

However, if investors don’t cover the loan, exchanges can sell the digital currency to ensure they get the money borrowed back.

With banks closed over the weekend, some traders may struggle to repay the borrowed funds because they cannot transfer funds to their accounts, leading to sell-offs on the exchanges, Shams said.

“That will bring the price down further,” he added.

Market manipulation

It is also possible that those trying to artificially influence cryptocurrency prices may be a factor.

“There are a lot of studies that show that it is [market] Manipulation, “said Shams.

For example, research from 2019 shows how Tether, a dollar-pegged digital currency, could have artificially propelled the prices of Bitcoin and other cryptocurrencies up during the 2007 boom.

But the researchers still don’t know to what extent this is happening, he said.

I personally haven’t seen any conclusive evidence suggesting tampering.

Stephen McKeon

Associate Professor of Finance at the University of Oregon

One theory points to what is known as spoofing, which is the use of fake buy or sell orders to influence the prices of cryptocurrencies by creating a false sense of supply and demand.

Some believe this happens more frequently during the week, causing digital currency prices to rise. But that theory can only be speculation, he said.

Other experts say there are “mixed views” about these practices.

“I personally haven’t seen any conclusive evidence suggesting tampering,” McKeon said.

Crypto ETFs

Regardless of the reason for the weekend volatility, this poses challenges for regulators weighing the approval of cryptocurrency-based exchange-traded funds.

While ETFs trade during the working week, investors can buy or sell cryptocurrencies 24 hours a day, seven days a week, which can create a mismatch for crypto ETFs, Shams said.

For example, if the digital currency market falls 20% on a Sunday, those who are eager to sell can stick with their crypto ETFs until the markets reopen on Monday.

Securities and Exchange Commission chairman Gary Gensler has called for greater investor protection for cryptocurrencies, suggesting that more regulation may be needed before the agency approves crypto ETFs.

The SEC is currently reviewing Bitcoin and Ethereum ETF applications from several companies.

A pedestrian walks past Biogen Inc. headquarters in Cambridge, Massachusetts on Monday, June 7, 2021.

Adam Glanzman | Bloomberg | Getty Images

Biogen’s expensive new Alzheimer’s drug Aduhelm could cost Medicare billions of dollars, according to an analysis published Thursday by the nonprofit Kaiser Family Foundation.

The Food and Drug Administration on Monday approved the company’s drug, the first US regulator-approved drug to slow cognitive decline in people with Alzheimer’s and the first new drug for the disease in nearly two decades.

The biotech company said it is charging $ 56,000 for an annual course of the new treatment, more than the $ 10,000-25,000 price some Wall Street analysts expected. This is the wholesale price, and the cost that patients actually pay depends on their health insurance plan.

It is estimated that Alzheimer’s disease affects more than 6 million Americans, the vast majority of whom are 65 years of age and older. Biogen estimates that about 80% of Alzheimer’s patients are covered by Medicare, the state health insurance for the elderly.

It is still unclear how many Medicare beneficiaries will take Biogen’s drug, but even a conservative estimate would result in a “substantial increase” in Medicare spending, according to KFF.

In 2017, nearly 2 million Medicare beneficiaries were using one or more Alzheimer’s treatments that are covered under Medicare Part D, according to KFF. The group said if a quarter of those beneficiaries were instead prescribed Aduhelm, and Medicare paid 103% of $ 56,000 in the near future, “the total spending on Aduhelm in a year alone will be nearly $ 29 billion”.

According to the KFF, Aduhelm is covered by Medicare Part B, which generally covers FDA-approved, physician-administered drugs.

“If 1 million Medicare beneficiaries received Aduhelm, which may be on the lower end of Biogen’s expectations, spending for Aduhelm alone would exceed $ 57 billion in a single year – well above anything else covered by Part B. Medication together, ”group said. The total spend for Part B in 2019 was $ 37 billion.

Biogen has been criticized by Wall Street analysts and advocacy groups for questioning how the company could justify the price, especially as medical experts continue to debate whether there is enough evidence that the drug actually works and criticize the industry for drug prices becomes.

On a call to investors Tuesday morning, Evercore ISI analyst Umer Raffat congratulated the Massachusetts-based company on US approval of the drug before asking executives to explain the price.

“I think there is a discrepancy between some of the words you shared in your press releases like responsibility, access, health equity, and price, especially given the basic care population,” he told executives.

Biogen executives said Tuesday the overall price of the new treatment was “underpinned” by the value it is expected to bring to patients, caregivers and society. They insisted that the price was “responsible” and stated that the disease costs the US billions each year.

The company has pledged not to increase the price of the new drug over the next four years. However, executives said they were “open-minded” and suggested reconsidering the price as the company assesses demand over the next few years.

Gary Jones, the newly-elected President of the United Auto Workers (UAW), addresses the 37th UAW Constitutional Convention June14, 2018 at Cobo Center in Detroit, Michigan.

Bill Pugliano | Getty Images

DETROIT – The immediate past president of the United Auto Workers was sentenced Thursday to 28 months in prison for his part in a scheme with other leaders to steal as much as $1.5 million in union funds for lavish trips, golfing, alcohol and other luxuries.

Gary Jones is the second UAW president to be sentenced as part of a multiyear corruption probe into the prominent American labor union. He is one of 15 people to have been charged, including three Fiat Chrysler executives and his predecessor, Dennis Williams, who was sentenced last month to 21 months in prison.

His sentencing is among the last in the investigation, which has tarnished the union’s reputation, created mistrust among its members and led to federal oversight of the UAW.

During the hearing, Jones spoke quickly and somewhat emotionally as he apologized to the court, his family and UAW members.

“I failed [my family], and I failed the UAW,” he said before asking and pleading with the judge for his mercy in sentencing.

Jones also must pay restitution or forfeit more than $750,000, including $550,000 in restitution to the UAW and $42,000 to the IRS.

U.S. Attorney David A. Gardey described Jones as a “good man” who found himself working in a “culture of corruption.” He said Jones is continuing to cooperate with prosecutors “in other matters” involving the union.

Prosecutors had recommended a 28-month prison term for Jones, which was well below a previous range of 46 to 57 months under a plea deal with federal prosecutors. According to court documents, the lower recommendation is for “substantial cooperation with the government deserving of recognition.”

Jones fist bumped his attorney and prosecutors following the sentence. Even though they were wearing masks, Jones hugged and kissed his wife in the middle of the courtroom in downtown Detroit.

Jones, who led the union from June 2018 to November 2019, pleaded guilty in June to racketeering, embezzlement and tax evasion. As part of the plea agreement, his maximum sentencing was nearly five years in prison.

FBI agents finish loading materials into a truck out of the home of United Auto Workers President Gary Jones on Wednesday, Aug. 28, 2019.

Michael Wayland / CNBC

Prison sentences for those charged as part of the federal probe have ranged from 60 days to 5½ years. Ex-Fiat Chrysler executive Alphons Iacobelli, who led the company’s labor relations, received the lengthiest sentence; however, it was recently reduced to four years.

In December, the UAW and federal prosecutors agreed to end the corruption probe into the union under a civil settlement that included an independent monitor overseeing the organization for six years.

Other requirements under the deal include the union conducting a memberwide vote to potentially reform its voting process and making certain repayments, including a $1.5 million payment to the IRS. The UAW has already paid back about $15 million to training centers for improper chargebacks uncovered by officials.

A spokeswoman for the U.S. attorney’s office in Detroit confirmed a federal criminal investigation into individuals regarding the probe is ongoing.

Homes of Jones, Williams and other union officials were raided in August 2019 as part of the investigation, which was made public in July 2017.

In a Thursday statement, the UAW said Jones’ sentencing “brings to a close a very dark chapter in UAW history.”

“Jones clearly put his personal and self-interest above that of the members of his Union and has been stripped of his membership in the UAW,” the union said. “These serious crimes violated his oath of UAW officers and they violated the trust of UAW officers charged with handling our members’ sacred dues money as well as Community Action funds.”

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

1. Dow futures rise despite hotter inflation data; S&P 500 near record

Traders on the floor of the New York Stock Exchange, June 4, 2021.

Source: NYSE

Dow futures rose Thursday despite a hotter-than-expected report on consumer inflation. The Dow logged its third straight session of losses Wednesday. In a rather muted June, the 30-stock average was still less than 1% from last month’s record close. The S&P 500, which also dipped Wednesday, remained 0.3% shy of its May record high close. The Nasdaq broke a three-session winning streak, but Wednesday’s modest decline still kept the tech-heavy index within 1.6% from its late April record close.

2. Consumer prices jump in May at fastest pace since the summer of 2008

A customer wearing a protective mask loads lumber onto a cart at a Home Depot store in Pleasanton, California, on Monday, Feb. 22, 2021.

David Paul Morris | Bloomberg | Getty Images

The 10-year Treasury yield ticked higher Thursday, trading around 1.5%, after the government released its red-hot May consumer price index. Headline CPI rose a greater-than-expected 5% on a year-over-year basis, the highest rate since sky-high energy prices spiked inflation readings in August 2008. The CPI’s core rate, which excludes the energy and food sectors, was slightly higher than expected, registering a year-over-year gain of 3.8%, the highest rate since June 1992. The Federal Reserve, which has said it believes hotter inflation will be transitory, meets next week. The government also reported a new pandemic-era low of 376,000 initial jobless claims for last week.

3. GameStop names ex-Amazon executives as new CEO and CFO

A person wearing a protective mask exits from a GameStop Corp. store at a mall in San Diego, California, on Thursday, April 22, 2021.

Bing Guan | Bloomberg | Getty Images

Shares of GameStop dropped roughly 6% in the premarket, the morning after the video game retailer named former Amazon executive Matt Furlong as its new CEO. GameStop also named another former Amazon executive, Mike Recupero, as CFO. The company is attempting to shift from a largely brick-and-mortar business to more of an online operation. Chewy co-founder Ryan Cohen, who took a stake in GameStop last year and pushed the new strategy, became chairman. GameStop sales rose 25% in the fiscal first quarter on a smaller-than-expected per-share loss. Shares of the original Reddit-favored meme stock have soared 1,500% in 2021.

4. Meat supplier JBS paid ransomware hackers $11 million

The JBS meat placing plant is viewed in Plainwell, Michigan on June 2, 2021.

Jeff Kowalsky | AFP | Getty Images

Brazil’s JBS, the world’s largest beef supplier, ended up paying the ransomware group that breached its computer networks about $11 million. The company was hacked in May by REvil, one of a number of Russian-speaking gangs, leading to plant closures. Word of the JBS payment comes after congressional testimony from Joseph Blout, CEO of Colonial Pipeline, which was recently hacked by a different Russian hacker group, DarkSide. In Senate testimony Tuesday, Blout said Colonial Pipeline’s decision to pay the ransomware demand was the “right thing to do for the country.”

5. Biden to lay out Covid vaccine donations, urge world leaders to join

U.S. President Joe Biden delivers remarks to U.S. Air Force personnel and their families stationed at RAF Mildenhall, ahead of the G7 Summit, near Mildenhall, Britain June 9, 2021.

Kevin Lamarque | Reuters

President Joe Biden, meeting with leaders of the wealthy G-7 democracies on his first overseas trip since taking office, is expected to unveil plans Thursday for the U.S. to donate 500 million vaccine doses around the globe over the next year. That’s on top of 80 million shots Biden has already pledged by the end of the month. U.S. officials said the president will also include a direct request to his fellow G-7 leaders to do the same. While Covid eases in the U.S., the pandemic has reached new levels of devastation in many countries. India reported on Thursday a daily record of more than 6,000 deaths from the disease.

— NBC News and the Associated Press contributed to this report. Follow all the market action like a pro on CNBC Pro. Get the latest on the pandemic with CNBC’s coronavirus coverage.