<ul class="summary-list"><li>US stocks were mixed on Friday after falling the day prior on fears of the capital gains tax hike proposed by president Joe <keyword id="60973" type="PERSON" weightage="60" keywordseo="Biden">Biden</keyword>.</li><li>Investors are analyzing the implications of the proposed higher taxes.</li><li><keyword id="6354947" type="UNKNOWN" weightage="60" keywordseo="bitcoin">Bitcoin</keyword> slid <a href="https://markets.businessinsider.com/currencies/news/bitcoin-price-below-50k-biden-tax-proposals-crush-risk-appetite-2021-4-1030337720">below $50,000</a> as Biden's tax proposals crushed risk appetite.</li></ul>US stocks were mixed on Friday after falling the day prior on fears of the capital gains tax hike proposed by president Joe Biden that would <a href="https://www.businessinsider.com/biden-reportedly-plans-nearly-double-capital-gains-tax-for-wealthy-2021-4">nearly double the capital gains ta</a> for wealthy Americans.Investors are now analyzing the implications of the proposed higher taxes and what will this mean for the financial system. David Bahnsen, chief investment officer, The Bahnsen Group, a wealth management firm, said Biden's plan will have a negative impact on the <keyword id="6357440" type="DEFINITION" weightage="60" keywordseo="Stock-Market">stock market</keyword>, though it is as yet unclear how big an impact it will have. "If the stock market really started to believe that the capital gains tax would double in 2022, it's entirely possible that there would be an acceleration of selling towards the end of this year and into early 2022," he told Insider.Bahnsen added that raising capital gains taxes is a disincentive for investors to sell their stocks at the appropriate time. "Not selling an asset that should be sold due to fear of taxes is distortive to <keyword id="31671" type="CITY" weightage="100" keywordseo="markets">markets</keyword>," he added.But congress is likely to settle on a <a href="https://markets.businessinsider.com/news/stocks/joe-biden-capital-gains-tax-increase-congress-limit-goldman-sachs-2021-4-1030337942">much more modest increase in capital gains tax</a> than Biden would like with the eventual figure likely to land at around 28%, analysts at Goldman Sachs said in a note Friday.Here's where US indexes stood at the 9:30 a.m. ET open on Friday:<ul><li><a href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestedium=ingest" target="_blank" rel="noopener">S&amp;P 500</a>: 4,145.13, up 0.25% </li><li><a href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestm=ingest" target="_blank" rel="noopener">Dow Jones industrial average</a>: 33,791.17, down 0.07% (24.73 points)</li><li><a href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestm=ingest" target="_blank" rel="noopener">Nasdaq composite</a>: 13,882.51, up 0.45%</li></ul><a href="https://markets.businessinsider.com/stocks/sklz-stock?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener">Skillz</a> <a href="https://markets.businessinsider.com/news/stocks/skillz-stock-price-jumps-cathie-wood-adds-million-shares-2021-4-1030338746">jumped as much as 8% on Friday</a> after Cathie Wood's ARK Innovation ETF added another 1,222,207 shares of the mobile gaming platform to its holdings the day before.In cryptocurrencies, bitcoin slid <a href="https://markets.businessinsider.com/currencies/news/bitcoin-price-below-50k-biden-tax-proposals-crush-risk-appetite-2021-4-1030337720">below $50,000 with $260 billion wiped off</a> the crypto market as Biden's tax proposals crushed risk appetite. Others digital assets tumbled as well. <a href="https://markets.businessinsider.com/currencies/eth-usd?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener">Ether</a> fell 7% to around $2,220, <a href="https://markets.businessinsider.com/currencies/doge-usd?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener">dogecoin</a> fell 17% to $0.17, and <a href="https://markets.businessinsider.com/currencies/xrp-usd?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener">XRP</a> dropped 8%."It is clear that bitcoin is more sensitive to capital gains tax threats than most asset classes," <a href="https://markets.businessinsider.com/currencies/news/bitcoin-price-below-50k-biden-tax-proposals-crush-risk-appetite-2021-4-1030337720">Jeffrey Halley, a senior market analyst at OANDA, said</a>.Oil prices held steady Friday as Covid-19 concerns, especially in India, rose to new highs. <a href="https://markets.businessinsider.com/commodities/oil-price?type=wti?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestm=ingest" target="_blank" rel="noopener">West Texas Intermediate crude</a> slipped 0.13% to $61.35 per barrel.<a href="https://markets.businessinsider.com/commodities/oil-price?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestce=markets&amp;utm_medium=ingest" target="_blank" rel="noopener"> Brent crude</a>, oil's international benchmark, was also lower 0.26% to $65.25 per barrel.<a href="https://markets.businessinsider.com/commodities/gold-price?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestm=ingest" target="_blank" rel="noopener">Gold</a> climbed slightly by 0.5% to $1,797.52 per ounce thanks to lower US Treasury yields as well as a weaker dollar. The precious metal is on track for its third weekly gain.<pre> </pre>

US stocks trade mixed as investors mull proposed capital gains take hike

<ul class="summary-list"><li>The investing world got a new meme in 2021: <keyword id="128640" type="UNKNOWN" weightage="60" keywordseo="nancy-pelosi" source="Orion">Nancy Pelosi</keyword>, House Speaker and star stock-picker.</li><li><keyword id="12175054" type="UNKNOWN" weightage="60" keywordseo="pelosi" source="Orion">Pelosi</keyword>'s husband's winning tech trades have shot the couple into the investing limelight.</li><li>While some meme about insider trading, others actively copy, and follow, the Pelosi approach.</li></ul>Move over GameStop and dogecoin, the investing world got a new meme in 2021: Nancy Pelosi, the Speaker of the United States House of Representatives, and star stock-picker.Pelosi has become a regular feature on the biggest financial meme pages such as <a href="https://twitter.com/litcapital">Litquidity</a> and <a href="https://twitter.com/ParikPatelCFA">Parik Patel</a>. And investing TikTok accounts are getting tens of thousands of views on clips about Pelosi's moves in the market. But why?<h3>A fateful Alphabet bet</h3>Central to the story of how Pelosi became one of the biggest <keyword id="11899442" type="UNKNOWN" weightage="60" keywordseo="memes" source="Orion">memes</keyword> on Wall Street is US legislation that forces lawmakers to disclose their and their family's trading activity. It means the general public <a href="https://housestockwatcher.com/summary_by_rep/Hon.%20Nancy%20Pelosi">can view</a> Pelosi's – or, more specifically, Pelosi's husband's – often highly successful trades.Pelosi has reported many stock trades carried out by her husband, Paul, over the last few years. But his trading activities <a href="https://markets.businessinsider.com/news/stocks/nancy-pelosi-husband-buys-millions-4-mega-cap-tech-stocks-2021-7">shot into the news</a> in July, when he made a cool $5.3 million by exercising call options that let him buy 4,000 shares of Google parent company <a href="https://markets.businessinsider.com/stocks/googl-stock">Alphabet</a>.The trade was highly controversial. That's because it came just before the House Judiciary Committee voted on antitrust regulation, which ultimately wasn't seen as a big threat to the tech titans.Spokespeople for Speaker Pelosi told media outlets at the time that she had no knowledge of the purchases and that she owns no stock herself. Insider contacted Pelosi's office but received no reply.Although she didn't break any rules, the trades were seen as fishy by many, and two memes based around Pelosi quickly sprung up. One is that the 81-year-old is a high-rolling, risk-taking star trader. Another is that she's making the big bucks off of insider information.<div type="image" title="Nancy Pelosi stocks meme" height="253" width="589" msid="86510139" hostid="261"></div>Despite the transparency requirement, an Insider investigation revealed in December that dozens of federal lawmakers and at least 182 top congressional staffers are <a href="https://www.businessinsider.com/financial-conflicts-congress-members-rated-2021-12">violating a federal conflict-of-interest law known as the STOCK Act</a>.But Pelosi <a href="https://www.businessinsider.com/we-are-free-market-economy-pelosi-rejects-stock-ban-congress-2021-12">rejected the idea of a stock-trading ban</a> for member of Congress, drawing <a href="https://www.businessinsider.com/ocasio-cortez-pelosi-no-reason-members-congress-trade-individual-stock-2021-12">pushback from Democratic Rep. Alexandria Ocasio-Cortez</a>.<h3><keyword id="12175055" type="UNKNOWN" weightage="60" keywordseo="paul-pelosi" source="Orion">Paul Pelosi</keyword> is one good day-trader</h3>For the anonymous Wall Street banker behind the <keyword id="12175057" type="UNKNOWN" weightage="60" keywordseo="litquidity" source="Orion">Litquidity</keyword> meme account, the whole Pelosi situation is funny.It's funny to imagine Paul Pelosi as just another <a href="https://markets.businessinsider.com/news/stocks/wall-street-bets-reddit-traders-more-skilled-responsible-academic-study-2021-4">WallStreetBets</a> day-trader trying to make some money on his phone, Litquidity told Insider.And it's funny that the family of the country's most powerful Democrat, whose party is seen as wanting to tax the rich and slash inequality, should be regularly buying and selling millions of dollars of stocks and options.The whole issue of politicians trading stocks is highly partisan. Democrats frequently point to the cases of Republican Sens <a href="https://www.businessinsider.com/georgia-republican-kelly-loeffler-dodges-question-about-stock-trading-2020-12">Kelly Loeffler</a> and <a href="https://markets.businessinsider.com/news/stocks/aoc-alexandria-ocasio-cortez-senators-rand-paul-gilead-stock-purchase-2021-8">Rand Paul</a>, whose trading activity has also been criticized.Unsurprisingly then, memes on Pelosi generate a lot of heat online, Litquidity says. One Litquidity Instagram post is a picture comparing George Soros and Nancy Pelosi as traders. A comment underneath says: "Nice. Now do Rand Paul and his wife." Others are highly critical of the speaker.Read more: <a href="https://www.businessinsider.com/real-estate-stocks-to-buy-market-correction-bank-of-america-2021-9">The market is headed for its dreaded 'late-cycle stage,' Bank of America warns — but these 6 real-estate stocks offer strong fundamentals and inflation-protected dividends</a><h3>Copying the Pelosi approach</h3>Yet there's also a community online who are more admiring and look to copy the Pelosi family trades.In a TikTok video from September, an account called Quicktrades got 70,000 likes in a post focusing on trades by the "queen of investing." Another account posted a TikTok saying "shouts out to Nancy Pelosi for the stock tips." And trading social media app Iris allows users to track Pelosi's disclosures.Ed Moya, senior market analyst at trading platform Oanda, told Insider the new army of retail traders in the US are always looking for experts to mimic. "The newbie believes politicians have an insight to what will likely be a good stock pick, as government officials know what fiscal policies will impact which sectors," he said."Retail traders are somewhat realizing that they have taken <a href="https://markets.businessinsider.com/stocks/amc-stock">AMC</a> and <a href="https://markets.businessinsider.com/stocks/gme-stock">Gamestop</a> as far as they can go and need to look for other trades."

The Queen of Stonks: How Nancy Pelosi became the biggest meme in investing

<a href="https://www.businessinsider.com/face-id-with-mask-iphone-apple-watch-ios-14-2021-4"></a>Good morning and welcome to <keyword id="9070519" type="UNKNOWN" weightage="60" keywordseo="10-things-in-tech">10 Things in Tech</keyword>. If this was forwarded to you, <a href="http://newsletter.businessinsider.com/join/4np/10-things-in-tech">sign up here</a>.Let's get started.1. You can finally unlock your iPhone with Face ID while wearing a mask. Apple's latest update will allow you to unlock your iPhone with facial recognition - but only if you have an Apple Watch. <a href="https://www.businessinsider.com/face-id-with-mask-iphone-apple-watch-ios-14-2021-4">Here's how to enable the pandemic-era feature.</a>2. The Pentagon's explanation for why a Florida company took over part of its internet leaves a lot of questions unanswered. The Pentagon's response doesn't explain why it entrusted Global Resource Systems LLC, a firm that appears to have just launched in September and that lacks experience working with government contracts. <a href="https://www.businessinsider.com/why-pentagon-internet-controlled-florida-company-2021-4">Read its full explanation.</a> 3. People are flocking to sextech startups in preparation for a summer of hookups. With half of American adults equipped with at least one dose of the vaccine, experts are predicting the end of a yearlong dry spell - and both consumers and VC funding are flowing to sextech. Five startups <a href="https://www.businessinsider.com/sextech-startup-summer-market-booming-2021-4">told us about changing consumer habits.</a>4. Tim Cook told Mark Zuckerberg Facebook should delete all data it collected after the Cambridge Analytica scandal. Per The New York Times, Zuckerberg was "stunned" by the suggestion, which came about during <a href="https://www.businessinsider.com/apple-tim-cook-facebook-mark-zuckerberg-sun-valley-meeting-2021-4">a discussion on user privacy.</a> The two <keyword id="6358815" type="UNKNOWN" weightage="60" keywordseo="tech">tech</keyword> heavyweights have long feuded over privacy and antitrust concerns; <a href="https://www.businessinsider.com/mark-zuckerberg-tim-cook-feud-history-facebook-apple-2020-9">here's a timeline of their rivalry.</a>5. A Dogecoin investor reportedly became a millionaire in two months. The 33-year-old Los Angeles resident claims to have become a millionaire after his $180,000 investment - and after being inspired by Elon Musk to pile into the meme currency. <a href="https://markets.businessinsider.com/currencies/news/elon-musk-inspired-dogecoin-investor-millionaire-in-2-months-2021-4-1030344614">More on that here.</a> 6. Tesla had another quarter of profits that topped Wall Street's expectations. Tesla reported its first-quarter earnings yesterday, which beat expectations for profit but fell short on revenue. <a href="https://www.businessinsider.com/tesla-stock-earnings-report-q1-profit-revenue-sales-elon-musk-2021-4">Here are the important numbers.</a>7. Doctors and patients in India are turning to social media in desperate pleas for COVID-19 help. As the country hit a world record of 350,000 new cases on Sunday, Facebook, Twitter, and WhatsApp became inundated with desperate calls for oxygen, blood plasma, and ICU beds. <a href="https://www.businessinsider.com/india-covid-pandemic-social-media-facebook-plea-oxygen-icu-beds-2021-4">More on the crisis in India.</a>8. Cisco's CEO expects the global computer chip shortage to last another six months. The supply-chain disruptions in semiconductors that have impacted many tech firms - caused by a surge in demand - will likely last for most of this year. <a href="https://www.businessinsider.com/cisco-ceo-chuck-robbins-chip-shortages-last-six-months-2021-4">The latest updates on the chip shortage.</a>9. Uber and Lyft asked Congress to bail out their drivers, but can't get enough of them to come back to work. Riders in the US are expected to flock back to ride-hailing apps as COVID-19 cases wane, but there aren't enough drivers to pick them up. <a href="https://www.businessinsider.com/uber-lyft-drivers-stimulus-labor-workforce-unemployment-2021-4">Here's how safety nets and gig options are making it hard to lure drivers back onto the road.</a>10. Black and minority founders are being excluded from venture capital funding, a new study shows. In the UK, only about 3% of founders who had received venture-capital backing identified as Black, while 7% described themselves as Asian, according to new research. <a href="https://www.businessinsider.com/black-minority-founders-missing-out-vc-funding-report-finds-2021-4">Read more on the study here.</a>Have an Amazon Alexa device? Listen to this update by searching "Business Insider" in your flash briefing settings.Compiled by Jordan Erb. Tips/comments? Email <a href="mailto:jerb@insider.com">jerb@insider.com</a> or tweet <a href="https://twitter.com/jordanparkererb">@JordanParkerErb</a>.Sign up for <a href="https://newsletter.businessinsider.com/join/free">more Insider newsletters here.</a>

10 things in tech you need to know today

<ul class="summary-list"><li><keyword id="6362094" type="PERSON" weightage="60" keywordseo="Ransomware">Ransomware</keyword> attacks have turned an uncomfortable spotlight onto the use of cryptocurrencies in crime.</li><li>Hackers attacking the <keyword id="1968507" type="PERSON" weightage="60" keywordseo="Colonial-Pipeline">Colonial Pipeline</keyword> and Ireland's health service demanded payment in crypto.</li><li>One analyst said the issue will not go unnoticed by US regulators, which could step up enforcement.</li></ul>Recent high-profile cyber attacks in which hackers demanded to be paid in cryptocurrencies have turned an uncomfortable spotlight on digital tokens and their use in crime. One analyst said the ransomware attack on the Colonial Pipeline was facilitated by <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite" id="docs-internal-guid-ec92b22a-7fff-ad40-1257-28c93b988103">cryptocurrencies</a>, which "will not go unnoticed by the US government and other countries." Hackers severely <a href="https://www.businessinsider.com/colonial-largest-us-fuel-pipeline-operator-shuts-down-operations-after-cyberattack-2021-5">disrupted the US energy network</a> earlier in May when they attacked the crucial Colonial Pipeline's computing systems. To get the system back up and running, Colonial paid a ransom of nearly $5 million in cryptocurrency, <a href="https://www.bloomberg.com/news/articles/2021-05-13/colonial-pipeline-paid-hackers-nearly-5-million-in-ransom">Bloomberg reported</a>, citing people familiar with the matter. Days later, hackers targeted Ireland's health service and also demanded a ransom <a href="https://www.irishtimes.com/news/health/bitcoin-ransom-will-not-be-paid-following-cyber-attack-on-hse-computer-systems-1.4564957">be paid in bitcoin</a>. <a href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> has crashed in recent days after Elon Musk said Tesla would no longer accept the token as payment, due to its "insane" and environmentally damaging energy use. <a href="https://markets.businessinsider.com/currencies/news/bitcoin-price-cryptocurrencies-china-crypto-crackdown-price-outlook-2021-5-1030445035">Cryptocurrencies slid again</a> on Tuesday after Chinese regulators cracked down on the use of <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite" id="docs-internal-guid-3427c78c-7fff-de94-f1ba-e6c28845a8c5">digital assets</a> for payments. But Jeffrey Halley, senior market analyst at currency firm Oanda, said the so-called ransomware attacks had been an underappreciated factor. "With Elon Musk grabbing all the headlines on his bitcoin/dogecoin pivot, the real issue is the $5 million ransom paid by Colonial Pipeline," he said. "Attacks on critical US infrastructure facilitated by cryptocurrencies will not go unnoticed by the US government and other countries. I would argue that the regulatory threat to cryptocurrencies has increased exponentially." Critics of <keyword id="6354947" type="UNKNOWN" weightage="60" keywordseo="bitcoin">bitcoin</keyword> and other cryptocurrencies have long argued that they facilitate crime thanks to their anonymous and decentralized nature, which means they are very hard to trace and link to individuals. Treasury Secretary Janet Yellen <a href="https://www.businessinsider.com/bitcoin-price-cryptocurrency-should-be-curtailed-terrorism-concerns-yellen-2021-1">said in January</a> that she was concerned about cryptocurrencies for this reason. "I think many are used - at least in a transaction sense - mainly for illicit financing," she told lawmakers during her confirmation hearing. Gary Gensler, the Chair of the Securities and Exchange Commission <keyword id="31671" type="CITY" weightage="100" keywordseo="markets">markets</keyword> regulator, has made similar criticisms in the past. "Beyond use on the darknet, there are those around the globe who seek to use these new technologies to thwart government oversight of money laundering, tax evasion, terrorism financing, or evading sanctions regimes," he <a href="https://www.congress.gov/115/meeting/house/108562/witnesses/HHRG-115-AG00-Wstate-GenslerG-20180718.pdf">told Congress</a> in 2018. Although cryptocurrency companies that deal with customers in the US are covered by various financial regulations, the digital asset markets is largely a grey area outside the traditional world of finance. Regulators have consistently warned that investors should only buy in if they're <a href="https://markets.businessinsider.com/currencies/news/cryptocurrencies-bitcoin-dogecoin-risks-lose-money-bank-of-england-andrew-bailey-1030396958">willing to lose all their money</a>. In the US, regulators are keeping a close eye on cryptocurrencies but have not yet committed to any major rule changes during the latest digital asset boom. Fox Business reported in April that Gensler is <a href="https://video.foxbusiness.com/v/6249208738001#sp=show-clips">waiting for the Treasury</a> to review the currency cryptocurrency rules before the SEC lays out its approach. Fox said Gensler is likely to step up enforcement action. Regulators are likely to increase their focus on crypto as ransomware attacks become more prevalent, said Rahul Bhushan, co-founder of Rize ETF, which runs a cybersecurity fund. Yet Bhushan said a stronger "regulatory framework around cryptocurrencies… will help legitimize that market." Michael Shaulov, chief executive of crypto firm Fireblocks, said: "The true solution is a capability for law enforcement agencies around the world to distribute real-time information about illicit activities allowing wallet and custody providers to block these funds in transit." Colonial Pipeline has been contacted for comment. <a href="https://forum.businessinsider.in/">For a more in-depth discussion, come on over to Business Insider Cryptosphere</a> — a forum where users can deep dive into all things crypto, engage in interesting discussions and stay ahead of the curve. SEE ALSO: <a href="https://www.businessinsider.in/cryptocurrency/news/investments-in-crypto-hit-17-billion-in-the-first-six-months-of-2021/articleshow/83740327.cms">Investments in crypto hit a new record of $17 billion, but Indian funds are yet to jump on the bandwagon</a> <a href="https://www.businessinsider.in/cryptocurrency/news/indian-cryptocurrency-exchange-wazirx-has-listed-shiba-inu-tokens-for-trading-in-indian-rupees/articleshow/82731429.cms">Chiacoin claims to be an eco-friendly cryptocurrency — here's how it works</a> <a href="https://www.businessinsider.in/cryptocurrency/news/here-is-why-a-ban-on-cryptocurrencies-may-not-be-even-possible/articleshow/82741310.cms">Is a ban on cryptocurrencies even possible?</a> <a href="https://www.businessinsider.in/cryptocurrency/news/latin-america-and-south-asia-show-two-ends-of-the-crypto-regulatory-spectrum/articleshow/83638437.cms">Even as Latin America embraces Bitcoin, Southeast Asia is clamping down on cryptocurrencies</a>

Ransomware attacks add to bitcoin's woes, shining a light on the use of cryptocurrencies in crime

<ul class="summary-list"><li>Strong US economic data lifted market optimism at the end of the week.</li><li><keyword id="48211" type="ORGANIZATION" weightage="60" keywordseo="US-stocks">US stocks</keyword> were inching toward all-time highs early Friday.</li><li>The <keyword id="123873" type="PERSON" weightage="60" keywordseo="SP-500">S&amp;P 500</keyword> has climbed about 4% this week, while oil prices have soared.</li></ul>US stocks were on track to rise to all-time highs Friday at the end of a stellar week in which the <a href="https://markets.businessinsider.com/index/s&amp;p_500_500">S&amp;P 500</a> had already risen about 4% and was heading for its strongest weekly gain in three months.Signs the US and other economies are recovering from the latest round of coronavirus restrictions have also boosted oil prices to one-year highs, as the demand outlook brightens.After the index climbed more than 1% on Thursday, <a href="https://markets.businessinsider.com/futures/s&amp;p-500-futuresures">S&amp;P 500 futures</a> inched 0.28% higher on Friday. <a href="https://markets.businessinsider.com/futures/dow-futures">Dow Jones Industrial Average futures</a> rose 0.29%, while <a href="https://markets.businessinsider.com/futures/nasdaq-100-futures">Nasdaq futures</a> climbed 0.22%.China's <a href="https://markets.businessinsider.com/index/csi-300">CSI 300</a> rose 0.17% overnight, finishing the week in the green, as the strong economic recovery outweighed worries over rising short-term credit costs. Japan's <a href="https://markets.businessinsider.com/index/nikkei_225">Nikkei 225</a> jumped 1.54% on upbeat earnings and <keyword id="45304" type="COMPANY" weightage="60" keywordseo="Stimulus">stimulus</keyword> hopes.Read more: <a href="https://www.businessinsider.com/crypto-bitcoin-investing-strategy-voyager-dogecoin-cryptocurrency-interest-stephen-ehrlich-2021-2" target="_blank" rel="noopener noreferrer">Investors are flocking to trade Dogecoin and other hot digital tokens on Voyager, a platform with no Robinhood-style restrictions. Its CEO says Bitcoin will hit $100,000 this year - and shares 3 other cryptocurrencies to watch.</a>The Europe-wide <a href="https://markets.businessinsider.com/index/stoxx_europe_600">Stoxx 600</a> index rose 0.42% in early trading, while the UK's <a href="https://markets.businessinsider.com/index/ftse_100">FTSE 100</a> climbed 0.11%.Investors have been pulled in different directions in recent weeks. Hopes that vaccines and stimulus will power a strong recovery in 2021 have clashed with short-term economic pain and a <a href="https://www.businessinsider.com/gamestop-stock-funds-squeeze-sachs-biggest-short-goldman-2021-2">day-trading frenzy that shook markets</a> at the end of January.But better-than-expected economic data from the US has sparked new optimism that the recovery will be a powerful one.Figures released Thursday showed that new <a href="https://www.businessinsider.com/us-weekly-jobless-claims-779000-coronavirus-economy-recovery-labor-market-2021-2">US unemployment claims fell last week for the third week</a> in a row - to 779,000 - and factory orders rose more than expected in December.The Bank of England on Thursday cut its short-term growth forecasts because of January's lockdown. But it said the country's speedy coronavirus vaccine rollout "should <a href="https://www.businessinsider.com/bank-of-england-cuts-2021-growth-forecast-for-uk-economy-2021-2">help the UK economy recover rapidly</a> later this year."Adding to the general mood of optimism, Democrats in Congress are powering ahead with plans to pass a $1.9 trillion stimulus package without Republican approval.Investors' attention Friday will be on the official monthly US employment report, due at 8:30 a.m. ET. Economists at Daiwa expect a modest 50,000 increase in payrolls, following a 140,000 decline in December. Yet they said in a note that recent data suggested the figure could be better than expected.Oil prices have soared this week as the economic outlook has brightened, with investors betting demand will rise. <a href="https://markets.businessinsider.com/commodities/oil-price">Brent crude</a> was up 1.12% on Friday morning to $59.66 a barrel, its highest level since last February. Brent has gained more than 7% this week, its largest weekly increase in a month. <a href="https://markets.businessinsider.com/commodities/oil-price?type=wti">West Texas Intermediate crude</a> was 1.42% higher at $57.03 a barrel.Read more: <a href="https://www.businessinsider.com/day-trading-investing-strategy-stocks-top-wealth-manager-peter-mallouk-2021-2" target="_blank" rel="noopener noreferrer">A top-ranked manager at a firm that handles $50 billion in wealth told us 4 ways investors could smartly play day-trading favorites like GameStop without risking it all</a>"With inflation sentiment rising in the US, partially due to higher government borrowing, adding a tailwind to the economic recovery, the conditions still remain supportive for oil <keyword id="31671" type="CITY" weightage="100" keywordseo="markets">markets</keyword>," said Jeffrey Halley, a senior market analyst at the currency firm Oanda.The <a href="https://markets.businessinsider.com/index/us-dollar-index">dollar index</a> slipped back from its highest level since December. It was last down 0.16% to 91.39.A strong pound, after the Bank of England suggested negative interest rates were not likely anytime soon, added to greenback weakness. The <a href="https://markets.businessinsider.com/currencies/gbp-usd">pound</a> was up 0.21% to $1.37 on Friday after jumping Thursday.US bond yields were little changed. The yield on the <a href="https://markets.businessinsider.com/rates/u-s--rates-10-yearshttps://markets.businessinsider.com/rates/u-s--rates-10-years">10-year Treasury note</a> was roughly flat at 1.139% but continued to trade near its highest level since March, reflecting stronger growth and inflation expectations. Yields move inversely to bond prices.

US stocks set to hit new highs while oil soars as US jobless claims beat expectations and economies show signs of recovery

Good morning! We hope you had a wonderful weekend. Welcome back to <a href="http://newsletter.businessinsider.com/join/10-things-in-politics">10 Things in Politics</a>, your weekday look at the biggest stories in DC and beyond. <a href="http://newsletter.businessinsider.com/join/10-things-in-politics">Sign up here to receive this newsletter.</a>Send tips to <a href="mailto:bgriffiths@insider.com">bgriffiths@insider.com</a> or tweet me at <a href="https://twitter.com/BrentGriffiths">@BrentGriffiths</a>.Here's what we're talking about today:<ul><li><a href="https://www.businessinsider.com/issues-that-could-tank-bidens-infrastructure-plan-congress-salt-taxes-2021-4">These are the 9 hurdles to Biden's infrastructure plan</a></li><li><a href="https://www.businessinsider.com/national-security-advisor-russia-will-face-consequences-if-navalny-dies-2021-4">White House warns Russia about what will happen if Alexei Navalny dies in prison</a></li><li><a href="https://www.insider.com/texas-matthew-mcconaughey-ahead-of-gov-greg-abbott-says-poll-2021-4">A poll shows Texans might be more than alright with Matthew McConaughey as governor </a></li></ul>1. WHEELING AND DEALING: Negotiations on President Biden's $2.3 trillion jobs plan are in full swing. He will meet later today in the Oval Office with a bipartisan group of lawmakers, some of whom are former mayors and governors. Meanwhile, Vice President Harris will head to North Carolina touting the plan <a href="https://www.washingtonpost.com/politics/2021/04/18/kamala-harris-set-showcase-policy-chops-by-touting-biden-infrastructure-plan/?itid=ap_jacquelinealemany">as she delivers her first major speech on the economy</a>. However, the more talks continue around the plan, the more it becomes apparent <a href="https://www.businessinsider.com/issues-that-could-tank-bidens-infrastructure-plan-congress-salt-taxes-2021-4">that some major roadblocks remain.</a>Here's a look at where things stand:A GOP counterproposal is moving forward: Sen. John Cornyn of Texas said <a href="https://www.wsj.com/articles/top-republican-says-senate-gop-could-be-open-to-smaller-infrastructure-bill-11618772453">he's working with Democrats on an $800 billion package</a>. Republicans and some business groups have pressured the White House to narrow its definition of infrastructure by cutting items like $400 billion for home care workers. <a href="https://www.businessinsider.com/biden-corporate-tax-hike-infrastructure-big-companies-average-americans-2021-4">Biden has defended a broader definition of infrastructure</a> that goes beyond roads, bridges, ports, and airports.A deal is said to be forming around corporate taxes: Biden and Democrats, Axios reports, are increasingly prepared to <a href="https://www.businessinsider.com/senate-democrats-to-seek-25-corporate-tax-rate-axios-2021-4">accept a 25% rate rather than the 28% currently in the plan</a>. Trump and the GOP's 2017 tax law lowered the overall corporate rate from 35% to 21%. <ul><li>More Democrats getting SALTy: Rep. Thomas Suozzi of New York told The Washington Post <a href="https://www.washingtonpost.com/politics/biden-infrastructure-congress/2021/04/18/ccd7aae0-9ee4-11eb-8a83-3bc1fa69c2e8_story.html">that he would oppose the president's plan if it doesn't undo</a> the $10,000 cap on state and local tax deductions created by the 2017 law. <a href="https://www.businessinsider.com/trump-salt-tax-fight-threatens-to-hold-biden-infrastructure-plan-2021-4">Other Democrats have also signaled a fight over the provision</a>, though not everyone in the party agrees. </li></ul>Time remains a factor: House Speaker Nancy Pelosi has privately told lawmakers that s<a href="https://www.businessinsider.com/issues-that-could-tank-bidens-infrastructure-plan-congress-salt-taxes-2021-4">he wants House passage before July 4,</a> a speedy timeline in an institution that moves notoriously slow. Unlike Biden's $1.9 trillion rescue plan, the White House expects the infrastructure plan to move through a more normal process of hearings and mark-ups.2. Fauci expects a decision on Johnson &amp; Johnson this week: Dr. Anthony Fauci hopes <a href="https://www.businessinsider.com/fauci-hopeful-of-johnson-and-johnson-vaccine-pause-2021-4">there will be a call on the paused COVID-19 shot by Friday</a>. The Centers for Disease Control and Prevention has a meeting that day to discuss what to do about the vaccine that was paused after six women developed rare blood clots.<ul><li><a href="https://www.insider.com/half-of-us-adults-had-one-dose-covid-19-vaccine-2021-4">Half of US adults have had at least 1 dose of a vaccine</a>: Some 84 million people are fully vaccinated from coronavirus, about 32.5% of the population, the AP reports. But vaccine hesitancy continues to be an issue. The New York Times found that the <a href="https://www.nytimes.com/interactive/2021/04/17/us/vaccine-hesitancy-politics.html">least-vaccinated counties on average were more likely to have voted for Trump.</a></li></ul><div type="image" title="congressional stock report lobbying federal government 2x1" height="1250" width="2500" msid="82143182" hostid="261"></div>3. These are the stocks lawmakers are trading: Rep. Seth Moulton, Democrat from Massachusetts, is one of the newest investors in Swedish company Oura, the maker of a high-tech wearable ring that measures all sorts of biometrics. Moulton invested up to $250,000 in the private company. He told Insider that he's recused himself from decisions related to his or his wife's investments. <a href="https://www.businessinsider.com/seth-moulton-mark-green-crypto-currency-stocks-investments-markets-congress-2021-04">Here's a peek at our exclusive look at the portfolios of the powerful.</a>Dogecoin is in the halls of Congress. Rep. Mark Green, a Republican from Tennessee, purchased between $1,001 and $15,000 worth of the cryptocurrency. And Sen. Mark Warner, a Democrat from Virginia, and one of the wealthiest members of Congress, sold off his investment in Revival, a custom window company. He netted between $1 million and $5 million from the sale, which his office said was managed by a private trustee like all of his other investments.<a href="https://www.businessinsider.com/seth-moulton-mark-green-crypto-currency-stocks-investments-markets-congress-2021-04">Read the rest of our latest round-up here.</a>4. Poll shows McConaughey with a double-digit lead over Gov. Greg Abbott: Texans favor Oscar-winner Matthew McConaughey over Abbott, the Republican governor, according to a poll released by The Dallas Morning News and the University of Texas at Tyler. Respondents back McConaughey (45%) over Abbott (33%) while 22% would support someone else. <a href="https://www.insider.com/texas-matthew-mcconaughey-ahead-of-gov-greg-abbott-says-poll-2021-4">McConaughey has said he's considering a run but has yet to make a decision.</a>5. Closing arguments in Derek Chauvin's murder trial are due today: Minneapolis and cities throughout the country are preparing for unrest as the jury is expected to begin deliberations later today. CNN reports that Los Angeles, Philadelphia, and San Francisco are readying extra officers in anticipation of the verdict. <a href="https://www.businessinsider.com/derek-chauvin-trial-minneapolis-us-cities-increase-security-for-verdict-2021-4">More on the preparations here.</a><ul><li>Republicans accuse Rep. Maxine Waters of inciting violence: Republican Sen. Ted Cruz of Texas accused the Democratic congresswoman of "actively encouraging riots" after she said people should <a href="https://www.businessinsider.com/ted-cruz-maxine-waters-encouraging-riots-daunte-wright-protests-2021-4">"get more confrontational" during a visit to Brooklyn Center, Minnesota. </a></li></ul>The top House Republican warned Pelosi about Waters' comments:<a href="https://twitter.com/GOPLeader/status/1383944906637414406"><div type="image" title="Screen Shot 2021 04 18 at 11.54.57 PM" height="404" width="1060" msid="82143183" hostid="261"></div></a>6. The top things for your calendar, all times Eastern: <ul><li>10:00 a.m.: Chauvin's trial resumes for closing arguments </li><li>11:50 a.m.: Harris speaks at the Guilford Technical Community College in Jamestown, North Carolina.</li><li>12:15 p.m.: Jen Psaki holds the White House daily news briefing </li><li>1:15 p.m.: Biden meets with a group of bipartisan lawmakers in the Oval Office</li></ul>7. Bush shares a big regret: Former President George W. Bush said his failure to get comprehensive immigration reform passed is one of the "biggest disappointments" of his presidency. Bush said he would still support a pathway to citizenship for undocumented immigrants currently residing in the US. <a href="https://www.businessinsider.com/george-w-bush-disappointed-immigration-reform-2021-4">More comments from a rare interview.</a>8. Authorities are searching for the suspect in a deadly Austin shooting: Police are searching for a former Travis County deputy who is suspected of killing three people in a domestic violence incident, the Austin American-Statesman reports. The man in question is also facing charges for sexually assaulting a child. <a href="https://www.statesman.com/story/news/2021/04/18/stephen-broderick-sought-austin-shooting-deaths-travis-county/7278124002/">The manhunt is still ongoing as of just after 5 a.m. ET.</a>9. Biden aide warns Russia of "consequences" if Alexei Navalny dies: National security advisor Jake Sullivan warned Moscow that it "will be held accountable by the international community" <a href="https://www.businessinsider.com/national-security-advisor-russia-will-face-consequences-if-navalny-dies-2021-4">if Putin's top critic dies in custody</a>. Navalny's doctors have warned that he could "die any minute" unless he receives medical treatment. <a href="https://www.businessinsider.com/alexei-navalny-doctors-say-could-die-at-any-minute-2021-4">Navalny previously started a hunger strike to protest his lack of medical treatment.</a><ul><li><a href="https://twitter.com/Dasha_Navalnaya/status/1383597776232009730">Navalny's daughter Daria made a plea on Twitter before the weekend:</a></li></ul><a href="https://twitter.com/Dasha_Navalnaya/status/1383597776232009730"><div type="image" title="Screen Shot 2021 04 19 at 2.38.23 AM" height="256" width="1064" msid="82143185" hostid="261"></div></a>10. European soccer teams caused international uproar: <a href="https://www.politico.eu/article/emmanuel-macron-european-super-league-football/">British Prime Minister Boris Johnson and French President Emmanuel Macron slammed </a>the creation of a continental "super league" with six English, three Spanish, and three Italian clubs forming a breakaway organization. Liverpool, Manchester United, AC Milan, and Real Madrid are all part of the planned new league. <a href="https://edition.cnn.com/2021/04/18/sport/football-super-league-announced/index.html">FIFA and other soccer organizations have threatened bans and sanctions for teams that join</a>.<div type="image" title="Screen Shot 2021 04 19 at 2.41.16 AM" height="530" width="1060" msid="82143187" hostid="261"></div>One last thing.Today's trivia question: Speaking of soccer, who is the only president who played college soccer? Email your guess and a suggested question to me at <a href="mailto:bgriffiths@insider.com">bgriffiths@insider.com</a>.<ul><li>Friday's answer: There were just <a href="https://www.mountvernon.org/library/digitalhistory/digital-encyclopedia/article/cabinet-members/#:~:text=Washington%20held%20his%20first%20full,and%20Attorney%20General%20Edmund%20Randolph.">four positions in President Washington's original cabinet.</a></li></ul>

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