Axios

The Democratic nominee in a special House election in New Jersey repeatedly dodged questions on Wednesday about whether she would support House Minority Leader Hakeem Jeffries (D-N.Y.) for speaker.

Why it matters: As Axios has repeatedly documented, many Democrats running for Congress have shied away from firmly committing to support Jeffries' leadership amid grassroots frustration with the party establishment.

President Trump became the first sitting president to attend Supreme Court oral arguments on Wednesday and watched as key justices cast doubt on his effort to restrict birthright citizenship.

Why it matters: Even Trump's unprecedented courtroom appearance couldn't shield his executive order from skeptical questioning by justices, a sign the court may reject his attempt to redefine who counts as an American.

JPMorgan Chase CEO Jamie Dimon gave an impassioned defense of the Iran war, dismissed the idea of running for office and pointed at plans for his post-CEO future in an interview with Jim VandeHei for a new episode of "The Axios Show."

Why it matters: Dimon, who once served as chairman of the Business Roundtable, has outsized influence in the American business landscape.

There's a big shift happening in Big Tech as the AI transition enters a new era.

Why it matters: Investors are changing the way they price these superstar stocks, but judging by what happened in the market Tuesday, they are not totally sure how to do so.

Republicans' massive Medicaid overhaul and rising health costs are forcing state legislatures to begin cutting medical spending for the poor, raise taxes and take other steps to deal with a first-of-its-kind budget squeeze.

Why it matters: State budgets are due to shrink by $664 billion over the next decade because of the cuts in last year's GOP budget law, while medical costs are rising and state tax collections are lagging.

If you're an immigrant worker in the U.S. right now, you've got a better shot landing a visa as a farmer than a tech worker, researcher, doctor or nurse.

Why it matters: The Trump administration's crackdown on H-1B visas is crushing sectors that rely on high-skilled immigrant workers, while seasonal programs for farm workers have gotten a pass.

One month in, President Trump's Iran war has fractured into three competing realities:

1. A military campaign that has largely delivered.
2. A strategic vision that hasn't.
3. A political and economic problem getting worse by the day.

Why it matters: The Trump administration has declared Operation Epic Fury an overwhelming success. But the trajectory of the war — from shifting goalposts to mounting costs — points to a potential stalemate.

President Trump isn't just befuddling foreign leaders and financial markets with his mixed signals on Iran. Advisers who speak regularly with the president tell Axios they're just as uncertain.

Why it matters: Trump's off-the-cuff musings and Truth Social postings can have life-or-death consequences for the war, and massive implications for the market. Then the cycle restarts without any lasting clarity.

Oil prices could surge to an unprecedented $200 a barrel if the Strait of Hormuz remains closed, analysts warn.

Why it matters: President Trump is weighing ending the U.S. war on Iran without reopening the strait — raising the once-unthinkable prospect that this key energy artery could stay shut indefinitely.

The Supreme Court will hear arguments Wednesday over President Trump's executive order restricting birthright citizenship in a case that could decide who gets to be an American.

Why it matters: A ruling in Trump's favor could reshape America's racial makeup and create a caste system that leaves millions without rights.