Amazon founder Jeff Bezos and Goldman Sachs CEO David Solomon are adding to the chatter among investors that markets are getting overheated due to an AI bubble.
Why it matters: The Dow, S&P 500 and Nasdaq are up 10%, 14% and 18%, respectively, so far this year as bullish investors have piled into AI stocks.
The U.S. may mint a $1 coin bearing President Trump's image for the 250th anniversary of America's independence, a Treasury spokesperson told Axios Friday.
Why it matters: The Circulating Collectible Coin Redesign Act of 2020, passed in anticipation of the nation's 250th anniversary, prohibits portraits of living people on the reverse (or "tails" side) of such coins, and it's unclear whether a design of Trump pumping his fist complies with that rule.
Hiring likely remained stalled in September, with the job market limping into year's end.
Why it matters: That is the signal from a collection of private sector data that, at least directionally, suggests weak growth in employment over the summer continued into the early fall.
The U.S. Department of Transportation (DOT) announced Friday it's halting billions in federal funding for Chicago, including a project to bring more accessible public transit to predominantly Black neighborhoods.
Why it matters: In a statement, the department blamed the decision on the ongoing government shutdown — and congressional Democrats they say are responsible for it.
Why it matters: Swift and Travis Kelce's forthcoming "I do" could light up the wedding business, according to the pros — pouring billions into an already lucrative industry.
The U.S. could see an unprecedented 15,000 churches shut their doors this year, far more than the few thousand expected to open, according to denominational reports and church consultants.
Why it matters: The unprecedented contraction, expected to continue over the next decade, risks leaving gaps in communities nationwide — particularly rural ones, where churches often are crucial providers of food aid, child care and disaster relief.
President Trump and top aides are enlisting powerful business and labor groups to push Senate Democrats to end the government shutdown, Axios has learned.
Why it matters: Trump, while threatening mass firings of government workers, is also playing an inside game by cultivating support from influential D.C. interests — a tactic he typically dismissed during his first administration.
The White House sustained two setbacks on personnel this week: pulling its controversial nominee to lead the Bureau of Labor Statistics and losing its bid to immediately oust Fed governor Lisa Cook.
Why it matters: The reversals suggest that there are still some guardrails, at least when it comes to critical economic arenas, on President Trump's effort to consolidate power.
A new government report warns that China's DeepSeek models pose risks to national security, even as they trail far behind American competitors on performance and cost.
The big picture: The report could give China hawks in Congress sturdier standing in their efforts to ban DeepSeek on government devices.
President Trump needs the Supreme Court to validate some of his most sweeping exercises of presidential power — and to stretch or outright overturn some of its own precedents in order to do so.
The big picture: The rulings standing in Trump's way are conservative ones. The right's long, successful campaign to curtail presidents' domestic powers is on a collision course with a Republican president who's shattering historical precedents at every turn.
