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Jim Lo Scalzo / AP

Market reaction to Trump speech: A big shrug, as Trump didn't touch details on issues like tax reform that are of most concern to investors.

Target's loss is America's gain: Target stock fell more than 12% on Tuesday. Plans for turning the company around include a $7 billion investment in store renovation and opening new small-format stores in dense urban areas. Investors are skeptical that Target's investments can lure customers back into the stores, given the secular trend toward online shopping. But for the broader economy, Target's decision to invest capital rather than returning it to shareholders is a great sign.

Higher interest rates: Futures traders are now betting that the Fed will raise interest rates at its next meeting in two weeks, but former Fed economist and Chief Market Strategist and Macro Insight Group Shehriyar Antia says the market is getting ahead of itself. He suggests watching today's release of personal consumption expenditures statistics at 8:30 this morning. Economists expect inflation to rise to 1.7%, below the the Fed's 2% target. A big beat could move up the date of the next increase, but otherwise May or June is a better bet.

Go deeper

Updated 7 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: The good and bad news about antibody therapies — Fauci: Hotspots have materialized across "the entire country."
  2. World: Belgium imposes lockdown, citing "health emergency" due to influx of cases.
  3. Economy: Conference Board predicts economy won’t fully recover until late 2021.
  4. Education: Surge threatens to shut classrooms down again.
  5. Technology: The pandemic isn't slowing tech.
  6. Travel: CDC replaces COVID-19 cruise ban with less restrictive "conditional sailing order."
  7. Sports: High school football's pandemic struggles.
  8. 🎧Podcast: The vaccine race turns toward nationalism.
Dan Primack, author of Pro Rata
Updated 7 hours ago - Economy & Business

Dunkin' Brands agrees to $11B Inspire Brands sale

Photo: Alexi Rosenfeld/Getty Images

Dunkin' Brands, operator of both Dunkin' Donuts and Baskin-Robbins, agreed on Friday to be taken private for nearly $11.3 billion, including debt, by Inspire Brands, a restaurant platform sponsored by private equity firm Roark Capital.

Why it matters: Buying Dunkin’ will more than double Inspire’s footprint, making it one of the biggest restaurant deals in the past 10 years. This could ultimately set up an IPO for Inspire, which already owns Arby's, Jimmy John's and Buffalo Wild Wings.

Ina Fried, author of Login
9 hours ago - Technology

Federal judge halts Trump administration limit on TikTok

Illustration: Aïda Amer/Axios

A federal judge on Friday issued an injunction preventing the Trump administration from imposing limits on the distribution of TikTok, Bloomberg reports. The injunction request came as part of a suit brought by creators who make a living on the video service.

Why it matters: The administration has been seeking to force a sale of, or block, the Chinese-owned service. It also moved to ban the service from operating in the U.S. as of Nov. 12, a move which was put on hold by Friday's injunction.