Jan 28, 2017

A bullish case for Dow 30,000 — If Trump can avoid a trade war

Richard Drew / AP

The cover of Barron's is "Next Stop: Dow 30,000," with Gene Epstein and Jack Hough writing: "History suggests that this aging bull market can live on. … In fact, if … Trump can avoid stumbling into a trade war—or a real war—there's no reason the Dow Jones Industrial Average can't exceed 30,000 by the year 2025."

  • The bullish case: "If Trump can succeed in reducing regulation and lowering corporate taxes, stocks should surge further this year. An additional 5% or even 10% gain in 2017 wouldn't be surprising."
  • The bearish case: "Border-adjusted taxes that reward exporters and pinch importers could backfire, as well, raising prices and damping growth. And a rising dollar could cut into U.S. earnings growth."

Related: The Dow Jones average since 1985, visualized.

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Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 12:30 p.m. ET: 5,626,047 — Total deaths: 351,815 — Total recoveries — 2,314,233Map.
  2. U.S.: Total confirmed cases as of 12:30 p.m. ET: 1,684,173 — Total deaths: 99,123 — Total recoveries: 384,902 — Total tested: 14,907,041Map.
  3. Public health: Fauci says data is "really quite evident" against hydroxychloroquine — Nearly half of Americans say someone in their household has delayed medical care.
  4. Tech: Zipline drones deliver masks to hospitals; vaccines could be next
  5. Business: Boeing to lay off 6,770 more U.S. employees.
  6. 🎧 Podcast: Trump vs. Twitter ... vs. Trump.
  7. What should I do? When you can be around others after contracting the coronavirus — Traveling, asthma, dishes, disinfectants and being contagiousMasks, lending books and self-isolatingExercise, laundry, what counts as soap — Pets, moving and personal healthAnswers about the virus from Axios expertsWhat to know about social distancingHow to minimize your risk.
  8. Other resources: CDC on how to avoid the virus, what to do if you get it, the right mask to wear.

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Updated 17 mins ago - Politics & Policy

Live updates: SpaceX to launch historic crewed mission for NASA

The Falcon 9 rocket with a Crew Dragon atop. Photo: SpaceX

SpaceX will attempt to launch NASA astronauts Doug Hurley and Bob Behnken to the International Space Station today.

Why it matters: If all goes well, this launch — expected to happen at 4:33 p.m. ET — will mark the first time a private company has successfully launched people to orbit and the first crewed, orbital rocket launch from the U.S. in 9 years.

Follow along below for live coverage...

Pompeo tells Congress Hong Kong is no longer autonomous from China

Photo: Nicholas Kamm/Pool/AFP via Getty Images

Secretary of State Mike Pompeo said in a statement Wednesday that he has certified to Congress that Hong Kong is no longer autonomous from China and does not warrant special treatment under U.S. law.

Why it matters: Revoking Hong Kong's special status would hasten its economic and financial decline, already set in motion by China's growing political grip on the city. The preferential status that the U.S. has long granted Hong Kong has made the city a top U.S. trading partner.

Go deeper (1 min. read)ArrowUpdated 47 mins ago - World