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!

Photo: Alex Wong/Getty Images

Former Colorado Gov. John Hickenlooper dropped his presidential bid Thursday, becoming the first high-profile Democrat to exit the 2020 race.

Why it matters: Hickenlooper had been facing pressure from other Democrats, including Sen. Chuck Schumer, to withdraw from the presidential race and run for Senate in Colorado.

  • In the video announcing his departure, Hickenlooper said he'd give "some serious thought" to running for Senate in Colorado.
  • As a presidential candidate, Hickenlooper has struggled to stand out and he’s polled between 0% and 1% since January. But polls among Colorado voters show he’s the clear favorite among any Democratic Senate candidate in the state.

The big picture: When Hickenlooper and Senate Minority Leader Chuck Schumer met at the beginning of the month, a source familiar with the meeting said Schumer made his hopes very clear.

  • "You could be the person who is the firewall between Mitch McConnell staying as majority leader in 2021 or the Democrats taking the Senate," the source said Schumer told Hickenlooper. "Chuck Schumer needs John Hickenlooper real bad."
  • Earlier this week, Axios reported on a Democratic group that launched a "Draft Hickenlooper" campaign to encourage him to drop out of the presidential race to run for Senate.

Go deeper

Bipartisan group of senators unveil $908 billion COVID stimulus proposal

Sens. Joe Manchin (D-W.Va.) and Susan Collins (R-Maine) in the Capitol in 2018. Photo: Tom Williams/CQ Roll Call

A bipartisan group of senators on Tuesday proposed a $908 billion coronavirus stimulus package, in one of the few concrete steps toward COVID relief made by Congress in several months.

Why it matters: Recent data shows that the economic recovery is floundering as coronavirus cases surge and hospitals threaten to be overwhelmed heading into what is likely to be a grim winter.

Inside Patch's new local newsletter platform

Illustration: Annelise Capossela/Axios

Patch, the hyperlocal (and profitable) local digital news company, has built a new software platform called "Patch Labs" that lets local news reporters publish their own newsletters and websites, sources tell Axios.

Why it matters: It follows a growing trend of journalists going solo via newsletters at the national level.

Scoop: Politico stars plot new Playbook

Anna Palmer and Jake Sherman. Photo: Alex Wong/Getty Images

Three of Politico’s biggest reporting stars plan to launch a competitor to the company’s Politico Playbook franchise, sources tell me. 

Why it matters:  Jake Sherman, Anna Palmer and John Bresnahan will launch a daily newsletter in 2021 as a stand-alone company, the sources say. In effect, they will be competing against the Playbook franchise they helped create and grow.