This week in power × markets

the briefing · 2026-10-07

Big Tech remains Congress's favorite trade, and $MSFT is where the trading and the policy signals collide: 24-25 members have traded it this year while the company sits on the receiving end of both executive action and a federal contract signal.

• $MSFT leads the convergence list — 25 members trading against signals from Executive Action and a Federal Contract — and ranks #2 in year-to-date congressional volume with 24 distinct filers, 35 buys and 30 sells, including 13 committee-sector overlaps, meaning those members trade a sector their committee oversees.
• Nancy Pelosi disclosed a sale of $AAPL valued at $5M–$25M, in the most-traded name in Congress this year: 27 members, 23 buys and 28 sells, with 10 committee-sector overlaps. Chip Roy disclosed a buy of $AESI in the same $5M–$25M band.
• The IT-services and visa-adjacent cluster is lighting up at once: $CTSH (4 members trading; 8-K and Executive Action signals), $EPAM (2 members; Executive Action) and $INFY (1 member; Executive Action), while $ACN rounds out the consensus list with 12 members, 9 buys / 13 sells and 4 committee-sector overlaps. Elsewhere, $COIN drew 4 congressional traders alongside an SEC signal, and $REGN drew 4 alongside a Federal Contract signal.
• Insider selling dwarfed everything else on Oct. 6: Gic Private Ltd and others logged 20 open-market sales of $MDLN worth roughly $2.89B, with 4 sales of $ESTC (~$272.2M, including CRO Mark Dodds and Steven Schuurman), 22 sales of $NBIS (~$235.0M, COO Ophir Nave) and $BNTX CEO Ugur Sahin among four sellers totaling ~$18.1M. On the buy side, Pershing-affiliated CIO Ryan Israel made six purchases of $PSUS (~$19.2M).

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