Get the latest market trends in your inbox

Stay on top of the latest market trends and economic insights with the Axios Markets newsletter. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Denver news in your inbox

Catch up on the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Des Moines news in your inbox

Catch up on the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Minneapolis-St. Paul news in your inbox

Catch up on the most important stories affecting your hometown with Axios Minneapolis-St. Paul

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tampa-St. Petersburg news in your inbox

Catch up on the most important stories affecting your hometown with Axios Tampa-St. Petersburg

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Illustration: Sam Jayne / Axios

For all the worldwide worries, a fascinating and rare trend is unfolding around the globe: synchronized growth.

President Trump and many other global leaders are basically boosting each other with their expanding economies and increased spending at home. It's very unusual for the world's biggest economies to grow all at once — and this phenomenon has no doubt helped boost U.S. markets.

  • CNN's Fareed Zakaria, in an interview with us about transcendent global forces, calls it the "extraordinary" trend of a "synchronized global recovery" that could well continue into 2018 and beyond.

Check out the Q3 growth rates of the world's 10 largest economies:

  1. U.S.: 3.3%
  2. China: 6.9%
  3. Japan: 2.5%
  4. Germany: .8%
  5. U.K.: .4%
  6. India: 6.3%
  7. France: .5%
  8. Brazil: .1%
  9. Italy: .4%
  10. Canada: 1.7%

There are many reasons/theories for simultaneous growth:

  • The United States, Europe and others spent heavily to pull out of the 2007 recession. Around the same time, Japan finally pulled out of its long funk. Turns out, goosing spending helps, at least in short-term.
  • You wouldn't guess it from media coverage, but the world is more peaceful than usual. Even terrorist attacks are down — by double-digits.
  • Many of the emerging growth markets, like Indonesia, are governed by market- and trade-friendly economic reformers, juicing spending.
  • JPMorgan Chase CEO Jamie Dimon told us in Michigan last week that another reason has been the slow but sustained growth in the U.S., which has — little by little — helped lift other nations.

Bullish at the top: Dimon says we "could have years of more global growth."White House economic adviser Gary Cohn told us to expect a lot more growth at home next year, especially with the tax cuts in place. He sees a continued rally "based on real, underlying fundamentals of the economy — the U.S. economy as well as European economy and global economy," plus the new tax incentives.Be smart: Economics is like politics: Everyone has an opinion, but everyone is guessing.Be watchful: The same force that pulled the world out of an economic funk — sustained if anemic growth in the U.S., and robust growth in China — could turn and pull others down.Between now and New Year's Day, Axios CEO Jim VandeHei and I will bring AM readers our year-end thoughts on the topics that matter most. Sign up here.

Subscribe to Axios AM/PM for a daily rundown of what's new and why it matters, directly from Mike Allen.
Please enter a valid email.
Please enter a valid email.
Server error. Please try a different email.
Subscribed! Look for Axios AM and PM in your inbox tomorrow or read the latest Axios AM now.

Go deeper

19 mins ago - Health

Moderna to file for FDA emergency use authorization for COVID-19 vaccine

Photo illustration by STR/NurPhoto via Getty Images

Moderna announced that it plans to file with the FDA Monday for an emergency use authorization for its coronavirus vaccine, which the company said has an efficacy rate of 94.1%.

Why it matters: Moderna will become the second company to file for a vaccine EUA after Pfizer did the same earlier this month, potentially paving the way for the U.S. to have two COVID-19 vaccines in distribution by the end of the year. The company said its vaccine has a 100% efficacy rate against severe COVID cases.

The social media addiction bubble

Illustration: Annelise Capossela/Axios

Right now, everyone from Senate leaders to the makers of Netflix's popular "Social Dilemma" is promoting the idea that Facebook is addictive.

Yes, but: Human beings have raised fears about the addictive nature of every new media technology since the 18th century brought us the novel, yet the species has always seemed to recover its balance once the initial infatuation wears off.

Young people's next big COVID test

Illustration: Eniola Odetunde/Axios

Young, healthy people will be at the back of the line for coronavirus vaccines, and they'll have to maintain their sense of urgency as they wait their turn — otherwise, vaccinations won't be as effective in bringing the pandemic to a close.

The big picture: "It’s great young people are anticipating the vaccine," said Jewel Mullen, associate dean for health equity at the University of Texas. But the prospect of that enthusiasm waning is "a cause for concern," she said.