Elon Musk speaks at an unveiling event for the Boring Company test tunnel on Dec. 18, 2018 in Hawthorne, Calif. Photo: Robyn Beck-Pool/Getty Images

Las Vegas has awarded a $48.7 million contract to Elon Musk's Boring Company to build a high-speed autonomous shuttle underneath the city's remodeled convention center, per multiple reports.

Why it matters: Sin City is the first paying customer for Musk's hyperloop idea, which was "joke-tweeted" into existence two and a half years ago, Wired magazine writes. The transit system would shorten what would be a 15-minute walk to a one-minute ride.

Skepticism abounds, even from the city's mayor who voted against the deal, but the contract includes plenty of escape clauses if Boring fails to deliver on its promise to move at least 4,400 people per hour.

But, but, but: As Jalopnik notes, Boring seems to have abandoned plans for sled-mounted vehicles traveling on high-speed tracks, and instead is running "bus-looking Tesla electric cars" on pavement, which makes it an ordinary tunnel.

Go deeper: Elon Musk shows off his first Boring tunnel in LA

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Fund managers start to board the stock bandwagon

Illustration: Aïda Amer/Axios

Asset managers at major U.S. investment firms are starting to get bullish with their clients, encouraging stock buying and trying not to get left behind right as the metrics on tech stocks rise back to highs not seen since the dot-com crash of 2000.

What's happening: Appetite for stocks is starting to return, but slowly as institutional money managers were overwhelmingly sitting on the sidelines in cash during April and May.

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China bans Cruz and Rubio over Xinjiang criticism

Photos: Graeme Jennings/Pool/Getty Images; Al Drago/Pool/Getty Images

China said Monday that it will ban entry to Sens. Marco Rubio (R-Fla.) and Ted Cruz (R-Texas) over their criticisms of human rights abuses in Xinjiang, the AP reports.

The big picture: The move seems to be retaliatory after the U.S. announced sanctions on four Chinese officials for human rights abuses against Uighur Muslims and other ethnic minorities in the region last week.

Roger Stone says he plans to campaign for Trump

Roger Stone appears yesterday outside his home in Fort Lauderdale. Photo: Johnny Louis/Getty Images

Roger Stone told Axios in a phone interview that he plans to write and speak for President Trump's re-election now that Stone "won't die in a squalid hellhole of corona-19 virus."

"I'm asthmatic," said Stone, 67. "Sending me to a prison where I could not be socially distanced ... would, I think, be a death sentence."