Cliff Owen, Eduardo Verdugo / AP

Senator Ted Cruz wants to use assets seized from drug lords such as El Chapo, the Mexican kingpin who was recently extradited to the U.S., to pay for border security and the border wall.

  • The idea: U.S. prosecutors are seeking $14 billion in drug profits and other assets from El Chapo. They also routinely seize the assets of other drug dealers and traffickers.
  • The Cruz quote: "Fourteen billion dollars will go a long way toward building a wall that will keep Americans safe and hinder the illegal flow of drugs, weapons, and individuals across our southern border."
  • The acronym's meaning: Ensuring Lawful Collection of Hidden Assets to Provide Order
  • Why it matters: President Trump is trying to figure out how to pay for his border wall, which will require American taxpayers to front the bill, but Republicans aren't helping at the moment.

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Grocery delivery company Instacart has raised $100 million in new funding, on top of the $225 million it announced last month, the company tells Axios. This brings its valuation to $13.8 billion.

Why it matters: This funding comes at what could be an inflection point for Instacart, as customers it acquired during coronavirus lockdowns decide whether they want to continue with the service or resume in-person grocery shopping.

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  2. U.S.: Total confirmed cases as of 10 a.m. ET: 2,739,879 — Total deaths: 128,740 — Total recoveries: 781,970 — Total tested: 33,462,181Map.
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  4. Business: Top business leaders urge the White House to develop mandatory mask guidelines.
  5. Politics: Herman Cain hospitalized for COVID-19 after attending Trump Tulsa rally — Biden downplays jobs number, rebukes Trump for ignoring health crisis.
  6. Economy: The economy may recover just quickly enough to kill political interest in more stimulus.
  7. States: Texas mandates face masks in public spaces Florida reports more than 10,000 new coronavirus cases, and its most-infected county issues curfew.

Markets swell as the economy shrinks

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The economy is sputtering, but the markets are thriving — a highly unusual event that shows how the coronavirus has thrown all bets off.

Why it matters: The disconnect adds to the wealth gap. The richest 10% of households — who own 84% of stocks — are getting richer, while millions of out-of-work Americans cross their fingers that pandemic unemployment benefits will be extended.