Jan 27, 2017

Big in Business: Elon Musk, Trump whisperer

Pablo Martinez Monsivais / AP

Bloomberg suggests that a prime driver of Tesla stock's 40% rise since December 1st is the election of Donald Trump. That's because Tesla is the "poster child" for forward-thinking domestic manufacturing. Whether that's enough to get Trump on board with the clean energy policies that Tesla needs to thrive is another story.

New home sales hit a post-recession high: There were more new homes sales in 2016 than in any year since 2007. The recovery of the homebuilding industry has been circuitous, but the trend of an ever healthier residential-construction sector is unmistakable.

Union membership at an all-time low: The Labor Department says that the rate of union membership hit another all-time low, down to 10.7% in 2016 from 11.1% in 2015. In November, Republicans captured the highest share of union households since the 1980s, though there's no indication that the GOP will offer any policy that will help stem the decline of organized labor.

All talk on currency manipulation: Donald Trump promised to label China a currency manipulator on day one of his administration, but the president has steered clear of the issue since inauguration. That's fine with Bhanu Baweja of UBS, who told The Street that the move would be unjustified given China has long since reversed its cheap-renminbi policy, and that it would further destabilize the Chinese economy .

What we're watching: Advance estimates of fourth-quarter GDP will be released Friday morning and economists expect that growth will be dragged down by a higher trade deficit. Whether this is a bad thing is up for debate—exports grew, just not as fast as imports.

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Updated 17 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 11:30 p.m. ET: 6,889,889 — Total deaths: 399,642 — Total recoveries — 3,085,326Map.
  2. U.S.: Total confirmed cases as of 11:30 p.m. ET: 1,920,061 — Total deaths: 109,802 — Total recoveries: 500,849 — Total tested: 19,778,873Map.
  3. Public health: Why the pandemic is hitting minorities harder — Coronavirus curve rises in FloridaHow racism threatens the response to the pandemic Some people are drinking and inhaling cleaning products in attempt to fight the virus.
  4. Tech: The pandemic is accelerating next-generation disease diagnostics — Robotics looks to copy software-as-a-service model.
  5. Business: Budgets busted by coronavirus make it harder for cities to address inequality Sports, film production in California to resume June 12 after 3-month hiatus.
  6. Education: Students and teachers flunked remote learning.

George Floyd updates

Protesters in Washington, D.C. on June 6. Photo: Samuel Corum/Getty Images

Tens of thousands of demonstrators are rallying in cities across the U.S. and around the world to protest the killing of George Floyd. Huge crowds have assembled in Washington, D.C., Philadelphia and Chicago for full-day events.

Why it matters: Twelve days of nationwide protest in the U.S. has built pressure for states to make changes on what kind of force law enforcement can use on civilians and prompted officials to review police conduct. A memorial service was held for Floyd in Raeford, North Carolina, near where he was born. Gov. Roy Cooper ordered all flags to fly at half-staff to honor him until sunset.

Updated 3 hours ago - World

In photos: People around the world rally against racism

Despite a ban on large gatherings implemented in response to the coronavirus pandemic, protesters rally against racism in front of the American Embassy in Paris on June 6. Photo: Julien Mattia/Anadolu Agency via Getty Images

Tens of thousands of people have continued to rally in cities across the world against racism and show their support this week for U.S. demonstrators protesting the death in police custody of George Floyd.

Why it matters: The tense situation in the U.S. has brought the discussion of racism and discrimination onto the global stage at a time when most of the world is consumed by the novel coronavirus.