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Photo: Alex Wong/Getty Images

Americans' satisfaction with how things are going in the U.S. has plunged 32 points to 13% since reaching a 15-year high in February, per Gallup polling released Tuesday.

Why it matters: The result, which marks a nine-year low for the metric, comes amid mass unemployment, civil unrest and the nation's coronavirus surge — and as President Trump tries to win another term in November.

  • The all-time low for American satisfaction was in October 2008 during the depths of the Great Recession (7%). Gallup has tracked the metric since 1979.

Between the lines: Republicans are leading the fallout, but they don't blame Trump.

  • Republicans' satisfaction in the poll hit 20% — down from 39% a month ago. The prior low for Republicans during the Trump administration was 38%.
  • However, Trump's approval rating remains at 91% among members of his party.

Yes, but: Independents, a key 2020 demographic, show falling satisfaction with both the state of the nation and Trump himself.

Methodology: The Gallup poll was conducted from July 1 through July 23 and is based on interviews with a random sample of 1,007 adults. The margin of error is +/- 4.

Go deeper

Dion Rabouin, author of Markets
Oct 28, 2020 - Economy & Business

Stocks remain at historically high valuations

Data: FactSet; Chart: Danielle Alberti/Axios

The latest mini-selloff in U.S. equities sent the S&P 500's price-to-earnings ratio to a recent low of 21.1, but the metric remains highly elevated by historical standards — above the five-year average (17.3) and above the 10-year average (15.5), per FactSet.

By the numbers: "There has been a lot of volatility in the forward P/E ratio this year, falling as low as 13.1 on March 23," FactSet senior earnings analyst John Butters tells Axios in an email. "However, the forward 12-month P/E ratio has been above 20.0 pretty consistently since May, peaking at 23.4 on September 2. Prior to this year, the last time the forward 12-month P/E ratio was at or above 20.0 was April 10, 2002."

21 mins ago - Health

FDA advisory panel endorses Johnson & Johnson COVID vaccine for emergency use

Photo: Illustration by Cezary Kowalski/SOPA Images/LightRocket via Getty Images

A Food and Drug Administration advisory panel on Friday recommended the authorization of Johnson & Johnson’s one-shot coronavirus vaccine for emergency use.

Why it matters: The FDA is expected to make a final decision within days on the J&J vaccine, which was found to be 66% effective against moderate to severe COVID. An emergency use authorization would allow distribution to immediately begin, helping streamline and speed up the vaccine rollout across the U.S.

Dave Lawler, author of World
22 mins ago - World

Schiff: "Definitive" Khashoggi report sends clear message to Saudis

Photo: Leon Neal/Getty Images

The report released Friday on the murder of Jamal Khashoggi was short on evidence or new information, but Rep. Adam Schiff (D-Calif.) tells Axios that the “definitive” statement assigning responsibility to Saudi Crown Prince Mohammed bin Salman (MBS) speaks volumes.

What he’s saying: Schiff, the chairman of the House intelligence committee, says that while some intelligence couldn’t be published because of the need to protect sources and methods, “we rarely see something published that is this definitive and I think that's an important accomplishment for the administration.”