Caterpillar is the world's largest manufacturer of construction equipment. Photo: Charlie Neibergall / AP

Manufacturing giant Caterpillar is forecasting $44 billion in sales for 2017, which is the company's third consecutive increase in projected annual revenue, Bloomberg reports. And sales are rising globally with surges in North America (27%), Asia (31%), Europe, Africa and the Middle East (22%), and Latin America (24%).

Why it matters: Caterpillar touches a diverse range of industries around the world, including U.S. oil and Chinese construction, and its growth serves as litmus test for global economic expansion. This positive news from Caterpillar is the latest indicator of synchronized growth of the world's economies, which hasn't happened since before the Great Recession.

Go deeper: The world's top economies are all growing at once.

Go deeper

Former Afghanistan commander Stanley McChrystal endorses Joe Biden

Ret. Gen. Stanley McChrystal endorsed former Vice President Joe Biden for president on MSNBC Thursday.

Why it matters: McChrystal came under fire in 2010 during the Obama administration after a Rolling Stone article quoted him as mocking some top civilian officials — including Biden. The general apologized to Biden but was ultimately pushed to resign.

Dion Rabouin, author of Markets
59 mins ago - Economy & Business

The holiday shopping season will now begin in October

Illustration: Eniola Odetunde/Axios

Amazon's decision to move its Prime Day to Oct. 13–14 this year will pull the whole holiday shopping season forward by more than a month and help make online retail bigger than ever, as more families shop electronically and jostle to get presents purchased ahead of December holidays.

Why it matters: The reality of the coronavirus pandemic pushing people toward e-commerce combined with the pull of Amazon Prime Day and the Christmas shopping season this year are setting up a bonanza for retailers — but only those with the ability to offer steep discounts, delivery and an attractive online platform.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 7:45 a.m. ET: 34,010,539 — Total deaths: 1,014,958 — Total recoveries: 23,662,200Map.
  2. U.S.: Total confirmed cases as of 7:45 a.m. ET: 7,234,257 — Total deaths: 206,963 — Total recoveries: 2,840,688 — Total tests: 103,939,667Map.
  3. Education: School-aged children now make up 10% of all U.S COVID-19 cases.
  4. Health: Alarming vaccine skepticism. Moderna says its coronavirus vaccine won't be ready until 2021
  5. Travel: CDC: 3,689 COVID-19 or coronavirus-like cases found on cruise ships in U.S. waters — Airlines begin mass layoffs while clinging to hope for federal aid
  6. Business: Real-time data show economy's rebound slowing but still going.
  7. Sports: Steelers-Titans NFL game delayed after coronavirus outbreak.

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