Axios

Lawyers may be the next victims of automation, and the impact on the macroeconomy could be serious. Until now, paralegals and beginning associate lawyers have seemed to be primarily vulnerable to algorithmic advances. But labor lawyer Miriam Nemeth argues that the trouble will go deeper. "Lawyers in particular may increasingly suffer from job loss as a result of automation," she said. "Everything from contract drafting to legal research appears prone to automation."

Data: Bureau of Labor Statistics; Chart: Andrew Witherspoon / Axios

Why it matters: There are roughly 1 million lawyers, paralegals and legal assistants in the US, more than 20 times the number of people in coal mining. It's not clear how many could lose their jobs, but a recent study said that currently available technology could reduce lawyers' billed hours by 13%.

Glass half-full: A recent McKinsey study said that 23% of a lawyer's job can be automated. But Chris Stock, CEO at LEAP Legal Software, said earlier this week that lawyers and paralegals have time to learn new skills, and thus not become flotsam of robots, by learning how to apply automation software to improve their own productivity and remain attractive to employers.

A number of traders are learning to tune out President Trump's rhetoric: The value of the dollar is up today despite Trump's claim that the greenback is "too strong," and pharmaceutical shares are up since his inauguration despite a vow to crack down on high drug prices.

Reversals: The dollar has rallied by 0.43% today, and the Mexican peso has recovered much of the value it lost between Trump's election and his inauguration; since Jan. 20, the peso is up 15.5%. The PowerShares Dynamic Pharmaceuticals ETF, meanwhile, has gained 8.2% since inauguration day, compared with a 4.8% rise in the S&P 500.

Why it matters: Some traders are separating rhetoric from action, and may be scaling back their expectations of how much of the president's agenda will be enacted.

The exception: Bond markets appear to take the president more seriously. Trump has stated a preference for low interest rates, and the yield on the 10-year T-note has fallen 1.75% over the past two trading days.

It turns out, a lot of people actually liked Pepsi's controversial Kendall Jenner ad — despite what the internet said.

Reality check: A new Morning Consult survey found that 44% of those polled had a more favorable view of Pepsi after watching the ad, while only 25% had a less favorable view.

The surprising details: Although the ad was accused of appropriating the Black Lives Matter movement and exploiting social justice to sell soda, a large percentage of minorities, particularly Latinos (75%) and African-Americans (51%), viewed Pepsi more favorably after watching the ad, while only 41% of whites felt that way.

General Motors is adding 1,163 employees to its self-driving car unit in San Francisco, according to a state filing flagged by Bloomberg's Dana Hull. The company confirmed the plan to Axios, adding:

We have made significant progress in developing safe and high-quality self-driving vehicle technology and as a result we expect to further grow our team and test fleet. We appreciate the opportunity the state offers through the California Competes program to support our expansion and continued development of this important technology that will reduce traffic fatalities.

Autonomous race: The employees will join GM's Cruise unit, whose initial team is from the startup the company acquired a year ago for nearly $1 billion. Like other automakers, GM has been heavily investing in developing self-driving car technology, amid predictions that automation will eventually eliminate human drivers.

Walmart will offer discounts on one million online-only items that customers can order for in-store pickup in an effort to compete with Amazon's new "Pickup Point" feature, reports Bloomberg. The discounts will apply to 10,000 items beginning April 19, and will extend to 1 million come June.

Why this matters: Amazon has been working to convince big brands to move away from selling to brick-and-mortar stores like Walmart, in favor of selling directly online. Revamping Walmart's e-commerce business is the latest attempt to challenge Amazon's growing online dominance.

Four movies or documentaries are in the works on Watergate, a friend points out:

1. "Felt" is the story of Deep Throat, FBI official Mark Felt, told primarily from the perspective of his family. Liam Neeson plays Felt. Julian Morris plays Bob Woodward. Filming is complete and the movie is expected to be released this year. Directed by Peter Landesman.
2. The film rights to "The Last of the President's Men," Woodward's book on Nixon aide Alexander Butterfield, who disclosed the secret White House taping system, has been sold to Steve Golin's Anonymous Content (which did "Spotlight," the 2016 Best Picture on the Boston Globe investigation of Catholic priests). Screenwriter and director Rod Lurie is working on the screenplay and meeting regularly with Butterfield and Woodward.
3. Actor Robert Redford is planning with NBC for a possible documentary that focuses on the Senate and House investigations of Watergate in 1973-74, when bipartisanship was still possible in Washington.
4. ABC has commissioned a primetime special on Watergate timed to the 45th anniversary of the 1972 break-in at the Democratic headquarters in the Watergate office building.

Asked for comment, Woodward told Axios AM: "History is never over."

Qualtrics, a Utah-based provider of corporate survey and analytics technology, has raised $180 million in new venture capital funding from existing investors at a $2.5 billion pre-money valuation. Axios spoke with co-founder and CEO Ryan Smith. The quick read:

• Expect an IPO within the next 18 months.
• Existing investor Accel, which was the first VC firm into Facebook, has now invested more into Qualtrics than into any other portfolio company.
• Qualtrics wants its new "experience management" platform to be as essential to companies as WorkDay or Salesforce.
• Smith thinks many founders romanticize struggles that they never really experienced.

With the fallout from his sexual harassment settlements piling up and more advertisers taking flight, Bill O'Reilly told viewers of The O'Reilly Factor tonight that he's taking a vacation planned last fall and will be back in 2 weeks, but some at Fox News believe that he may not return to the air, per New York Magazine.

Why it matters: Sources tell NY Mag's Gabriel Sherman — who has led the way at every twist and turn of the O'Reilly/Roger Ailes saga — that James Murdoch, 21st Century Fox's CEO, wants to oust O'Reilly while his father Rupert is hesitant. A similar scenario played out during last year's sexual harrassment scandal involving Ailes, the network's former chairman, who eventually resigned.

Update: A Fox News spokesperson said that O'Reilly did have a pre-planned vacation and would be returning to The O'Reilly Factor on April 24.