10 things you need to know before the opening bell
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2. Top executives at Credit Suisse are leaving following the Archegos blow-up. The Swiss bank disclosed a $4.6 billion hit on Tuesday.3. Michael Burry deleted his Twitter profile after warning of market bubbles. The 'Big Short' investor has tweeted warnings about specific stocks, crypto assets, SPACs, inflation and more this year.
4. The crypto market has doubled in value to $2 trillion. A massive cryptocurrency rally has led to this growth in just three months.5. GameStop's latest regulatory filing explains stock volatility. Short squeezes and online chatter are specifically named as reasons for the stock's behaviour. 6. Oil prices drop sharply as Covid-19 cases rise. Concerns about demand recovery might not be swayed by increasing vaccinations.
7. Earnings expected. A light day today, but Paychex Inc is one to look out for.
8. On the data docket. The Royal Bank of Australia announced its interest rate decision.9.RBC has unveiled its global ideas stock list featuring its analysts' top picks for 2021. The firm says to buy these 30 stocks poised to dominate amid an economic reopening rising inflation expectations.
10. A portfolio manager at a $2.3 billion firm says 10-year yields going to 7% is 'not outlandish' amid a wave of inflation. Cole Smead also breaks down why the S&P 500 is staring down a decade of negative returns.
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