Old-school automakers just might steal Tesla's thunder, according to the Barron's cover story, by Andrew Bary:

The CW: "Electric cars are widely expected to supplant vehicles powered by the internal-combustion engine, leaving traditional auto makers and their gasoline- and diesel-powered clunkers in a heap of rust."

"This dismissive view is especially prevalent on Wall Street, where shares of the leading auto manufacturers trade for a mere six to 11 times 2017 expected earnings, and sport dividend yields as high as 5%."

The takeaway: "[E]ven as electric cars, autonomous vehicles, and car sharing disrupt the status quo, the global auto industry could prove resilient, and reward customers and shareholders in myriad ways."

What's new: "Pressured by investors and the success of Tesla in electric vehicles, auto manufacturers are getting more shareholder friendly, and spending heavily to counter the upstart."

An x factor: "It remains to be seen if autonomous cars and ride-sharing programs gain much acceptance, even in densely populated urban areas. Part of the bear case for auto stocks is that a surge in ride sharing in the 2020s will cut into demand."

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Mike Allen, author of AM
Updated 38 mins ago - Politics & Policy

Democrats' Armageddon option

A makeshift memorial outside the Supreme Court yesterday. Photo: Jose Luis Magana/AFP via Getty Images

Furious Democrats are considering total war — profound changes to two branches of government, and even adding stars to the flag — if Republicans jam through a Supreme Court nominee, then lose control of the Senate.

On the table: Adding Supreme Court justices ... eliminating the Senate's 60-vote threshold to end filibusters ... and statehood for D.C. and Puerto Rico. "If he holds a vote in 2020, we pack the court in 2021," Rep. Joe Kennedy III (D-Mass.) tweeted.

Mike Allen, author of AM
41 mins ago - Politics & Policy

Democrats' "just win" option

Photo: Samuel Corum/Getty Images

Polls increasingly point to Democrats winning the Senate.

Why it matters: Republicans had been optimistic about holding on to the Senate even if President Trump lost. But they know they could be swamped by a blue wave.

Updated 56 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 9 a.m. ET: 30,814,638 — Total deaths: 957,632— Total recoveries: 21,068,829Map.
  2. U.S.: Total confirmed cases as of 9 a.m. ET: 6,766,724 — Total deaths: 199,268 — Total recoveries: 2,577,446 — Total tests: 94,211,463Map.
  3. Politics: Trump's health secretary asserts control over all new rules, including for vaccines In reversal, CDC again recommends coronavirus testing for asymptomatic people.
  4. Education: What we overlooked in the switch to remote learning
  5. Health: The dwindling chances of eliminating COVID-19.
  6. World: Guatemalan president tests positive for COVID-19 — The countries painting their pandemic recoveries green.