President Trump speaks as Homeland Security Secretary Kirstjen Nielsen listens (R). Photo: Alex Wong / Getty Images

"2017 turned out to be the global economy's best year since 2010, according to the International Monetary Fund, and 2018 looks even better," the WashPost's David Lynch writes:

The takeaway: "Investors and corporate executives ... have learned to cope with an unpredictable president, often by ignoring his most provocative statements ... the contrast between Trump's inflammatory rhetoric and the placid economic scene is striking..."

  • The big picture: "Economics dominated politics last year outside the United States, too. In Europe, fears that ascendant populism in Britain, Poland, and Hungary would destabilize the E.U. proved exaggerated. And in Asia, prosperity surged despite rising tensions on the Korean Peninsula."
  • What's next: "[S]ome foreign executives are acting on concerns that the president may finally erect barriers against countries that sell more to the United States than they buy. ... Japanese companies [including] Toyota ... have stepped up investments in U.S.-based research, production and distribution."

N.Y. Times Quote of the Day ... From a front-page James Stewart "Common Sense" column, "The Dow Hits 25,000: The Party Will End One Day, but When?":

  • James Stack, a market historian and president of InvesTech Research: "A correction would be healthy. The longer we go without one, the greater the risk this will end badly."

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Updated 47 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 7 p.m. ET: 30,881,522 — Total deaths: 958,493— Total recoveries: 21,119,006Map.
  2. U.S.: Total confirmed cases as of 7 p.m. ET: 6,794,479 — Total deaths: 199,469 — Total recoveries: 2,590,671 — Total tests: 95,108,559Map.
  3. Politics: Testing czar on Trump's CDC contradictions: "Everybody is right" Ex-FDA chief: Career scientists won't be "easily cowed" by political vaccine pressure.
  4. Education: What we overlooked in the switch to remote learning.
  5. Health: The dwindling chances of eliminating COVID-19 — 7 states set single-day coronavirus case records last week.
  6. World: England sets £10,000 fine for breaking self-isolation rules — The countries painting their pandemic recoveries green.

Trump campaign goes all in on Pennsylvania

Trump poster in Scranton, Pennsylvania. Photo: Robert Nickelsberg/Getty Images

The president's campaign is placing more importance on Pennsylvania amid growing concern that his chances of clinching Wisconsin are slipping, Trump campaign sources tell Axios.

Driving the news: Pennsylvania, which has 20 electoral votes, twice Wisconsin's number, actually has been trending higher in recent public and internal polling, a welcome development for the campaign.

Inside Biden's Supreme Court strategy

Joe Biden enters the hall at the National Constitution Center. Photo: Roberto Schmidt/AFP via Getty Images

Joe Biden’s closing argument will shift to a dominant emphasis on health care, turning the looming Supreme Court fight into a referendum on coverage and pre-existing conditions, officials tell Axios.

Why it matters: Biden aides believed they were winning when the race was about the coronavirus pandemic. Now they plan to use the Supreme Court opening as a raucous new field for a health care fight, returning to a theme that gave Democrats big midterm wins in 2018.