5 things to know before the opening of the stock market on Tuesday, April 6

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

1. Stocks are to take a break after the Dow, S&P 500 closing records

Traders on the floor of the New York Stock Exchange.

Source: CNBC

2. Credit Suisse receives a $ 4.7 billion hit following the fall of Archegos

The logo of the Swiss bank Credit Suisse is seen at its headquarters in Zurich, Switzerland, March 24, 2021.

Arnd Wiegmann | Reuters

Credit Suisse announced several senior staff departures and proposed a dividend reduction following the consequences of the Archegos Capital saga. The Swiss-based lender now expects a pretax loss in the first quarter of about $ 960 million, after receiving a $ 4.7 billion tax as a result of the melting of the American hedging fund. Credit Suisse said its investment bank CEO Brian Chin and chief risk and compliance officer Lara Warner would resign immediately. At the end of last month, Credit Suisse had to give up a significant amount of shares in order to break ties with the problematic office of the Archegos family. The Japanese nomura and Goldman Sachs on Wall Street were also forced to sell shares on behalf of the high-levered Archegos.

3. The total market value of cryptocurrencies exceeds for the first time 2 trillion dollars

Cryptocurrency mining platforms at a cryptographic mining farm in Romania.

Akos Stiller | Bloomberg via Getty Images

The value of the entire cryptocurrency market exceeded 2 trillion dollars for the first time on Monday, determined by an ether rally, the second largest digital currency, which alone has a market value of over 240 billion dollars. Ether hit a record high of over $ 2,150 overnight, up 180% year-over-year. Ethereum, the blockchain behind the ether, is seen as a key platform for decentralized funding applications and non-fungible tokens. Bitcoin represents more than $ 1 trillion in the entire capitalization of the cryptocurrency market. Last month, the world’s largest digital currency hit a record high of more than $ 61,000 – more than doubling in 2021. It traded early on Tuesday at more than $ 58,800.

4. Fauci warns against relaxing public health measures as summer approaches

The director of the NIH National Institute of Allergy and Infectious Diseases, Anthony Fauci, addresses the daily press briefing at the White House in Washington, January 21, 2021.

Jonathan Ernst | Reuters

Dr. Anthony Fauci, the White House chief adviser, warned on Monday that Americans should remain vigilant and abide by public health measures as the warmer summer months approach. “You may remember a little more than a year ago when we were looking for summer to save us from surges. It was, in fact, the opposite,” Fauci said during a briefing on the White House on coronavirus. Fauci also said that Americans should continue to receive both doses of Pfizer and Moderna Covid-19 vaccines, despite a recent study suggesting that a single dose may be enough.

5. Schumer says the Senate could pass an additional bill without GOP votes

The leader of the majority of the US Senate, Chuck Schumer (D-NY), supports the legislative achievements of the Senate Democrats while holding a press conference at the US Chapter in Washington, March 25, 2021.

Jonathan Ernst | Swimming pool | Reuters

According to the office of Senate Majority Leader Chuck Schumer, DN.Y., the Senate lawmaker has decided that the chamber can use budget reconciliation for extra time to pass legislation without Republican votes. Democrats, who control a 50-50 Senate divided by the party, will have three opportunities to pass a bill without GOP support before the midterm elections in 2022. Democrats are trying to adopt the over 2 trillion infrastructure plan. President Joe Biden’s dollars and aim to promote an economic recovery bill. Senate Minority Leader Mitch McConnell, R-Ky., Said his caucus will likely oppose the infrastructure measure due to the price and increase the US corporate tax rate to 28% to pay for it.

– Get the latest pandemic news with CNBC’s coronavirus blog.

.Source