Photo: Scott Eisen/Getty Images

Ten-term incumbent Massachusetts Democratic Rep. Michael Capuano has conceded to Ayanna Pressley in Tuesday night's primary elections, reports the Associated Press.

Why it matters: Ayanna Pressley, a 44-year-old black woman, will likely become the first black female member of Congress from Massachusetts. After Alexandria Ocasio-Cortez's upset victory in New York, this is further evidence of the power of insurgent, progressive campaigns led by women of color.

The backdrop: Capuano, who is white, hadn't faced a serious primary challenger since he was first elected in the late 1990s. This year changed everything when 44-year-old Ayanna Pressley — the first black woman to serve on Boston City Council — ousted him

But this race became more about representation in Congress and electing a new generation of leaders than it was about progressive vs. "establishment" Democrats.

  • Capuano had been leading by double digits in the polls. He joined the Congressional Progressive Caucus during his first term in office. He's expanded the state's housing, health care projects and transit system, per NYT.
  • He supported Medicare-for-all before it became a staple of the Democratic Party. He's supported an impeachment vote against President Trump. Over 30 years ago he led an effort to make a "sanctuary city" of Somerville, Massachusetts.
  • They've both agreed they're likely to vote the same way on critical issues.
  • Pressley's campaign staples are “economic inequality, the wealth and wage gap, structural racism, and gun violence,” she told Jezebel.
  • "I’m not running to keep things as they are," Pressley told NYT. "I’m running to change them."

The bottom line: The political climate in 2018 favors women, political newcomers, and underdogs. Ayanna Pressley is the latest example of that in one of the last Democrat-on-Democrat primaries of the season.

Correction: This story has been updated to reflect that Pressley could be the first female black Congressperson for Massachusetts.

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Jeff Sessions loses Alabama Senate primary runoff

Jeff Sessions. Photo: Michael DeMocker/Getty Images

Former Attorney General Jeff Sessions has lost the Republican nomination for Senate to Tommy Tuberville in Alabama in Tuesday night’s primary runoff, AP reports.

Why it matters: Sessions had been the underdog in the race against former Auburn University head football coach Tommy Tuberville, who had the backing of President Trump. Tuberville will now face off against Sen. Doug Jones (D-Ala.) in November, who is considered to have one of the most vulnerable Democratic Senate seats in the country.

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Illustration: Aïda Amer/Axios

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  4. Public health: Four former CDC heads say Trump's undermining of agency puts lives at risk — CDC director: U.S. could get coronavirus "under control" in 4–8 weeks if all wear masks.

Bank CEOs brace for worsening economic scenario

JPMorgan CEO Jamie Dimon. Photo: J. Lawler Duggan/For The Washington Post via Getty Images

Wells Fargo swung to its first loss since the financial crisis — while JPMorgan Chase and Citigroup reported significantly lower profits from a year earlier — as the banks set aside billions of dollars more in the second quarter for loans that may go bad.

Why it matters: The cumulative $28 billion in loan loss provisions that banks have so far announced they’re reserving serves as a signal they’re preparing for a colossal wave of loan defaults as the economy slogs through a coronavirus-driven downturn.