1. Expect Aussie market to be up today

Australian stocks reached record territory last week, but share markets could be threatened by the Delta variant.That’s the concern with Japan, Thailand, Malaysia and Vietnam setting daily records for infections, and Britain and Australia are struggling to beat this new strain. Vaccinations should trump the virus but jab rates are still too low in many countries, which could eventually spook stock markets. Despite these concerns, the futures readings on the stock market expects the S&P/ASX 200 index to open 37 points higher today.

2. Bonanza for bank shareholders

Shareholders are likely to be given $30 billion this year from none other than the banks. Last year, banks were battening down their hatches as a part of the Government’s rescue plan, but the economic bounce-back has surprised even the banks. This has left them with more profit and capital than they expected, so bigger dividends and share buybacks will mean bank shareholders are in for a bonanza. Both NAB and ANZ have already announced buybacks and CBA is expected to do so as well.

3. US tax office to challenge cryptocurrencies

Bitcoin and other cryptocurrencies face another challenge to their elevated high prices — the tax office! The US Congress wants its tax office – the Inland Revenue Service — to make cryptocurrency traders to report all transactions. In a bill before Congress, all businesses with cryptocurrency deals over $10,000 will have to be reported. This is expected to raise a cool $US28 billion and hurt cryptocurrency prices.

4. Police in Texas 'arrest' alligator for trespassing in pool

The Fulshear Police Department in Texas last week posted body camera footage of a "Criminal Trespass" involving an alligator swimming in a backyard pool. "The suspect resisted at first but was soon arrested and later released without further incident," the police department said.

5. US indexes end the week in the red

The Nasdaq had the biggest fall of the three major indexes in the US last week, dropping 1.11% to 14,672.68. The S&P 500 was down 0.37% for the week to 4,395.26 while the Dow Jones was down 0.37% to 34,935.47.