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California Democratic House candidate TJ Cox. Photo: Leonard Ortiz/Digital First Media/Orange County Register via Getty Images

California Democrat TJ Cox has taken the lead over Republican incumbent Rep. David Valadao in the country’s final undecided House race, according to the AP.

Why it matters: The AP initially declared Valadao as the winner of the 21st congressional district. But the race has narrowed as votes continue to be counted, and late Monday the AP retracted its call after the release of new vote tallies. If Cox is ultimately declared the winner, this would be the 7th House seat Democrats flipped in California and the 42nd nationwide.

Go deeper

Dan Primack, author of Pro Rata
24 mins ago - Economy & Business

The Leon Black clock strikes midnight

Illustration: Sarah Grillo/Axios

Leon Black is "retiring" as CEO of Apollo Global Management, the alternative investment giant he has led since co-founding it in 1990. But he is not making a full break, as Black will remain chair of Apollo's board of directors.

Why it matters: This is the culmination of 18 months of head-in-the-sand obfuscation of Black's dealings with Jeffrey Epstein.

Reddit traders look to pummel Wall Street's old guard

Illustration: Sarah Grillo/Axios

Reddit traders are taking on Wall Street pros at their own game with this basic mantra: Stocks will always go up.

Why it matters: Their trades — egged on in Reddit threads — have played a role in historic market activity in recent days.

The week the Trump show ended

Data: NewsWhip; Chart: Andrew Witherspoon/Axios

Donald Trump was eclipsed in media attention last week by President Biden for the first time since Trump took office, according to viewership data on the internet, on social media and on cable news.

Why it matters: After Trump crowded out nearly every other news figure and topic for five years, momentum of the new administration took hold last week and the former president retreated, partly by choice and partly by being forced off the big platforms.