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The cover of Barron's is a macabre sign of the times: how investors can profit off robots replacing workers: "If manufacturers are going to flourish in America, they'll need to buy a lot more robots. Here are six ways to play this hot trend."

  • The lead: "As President Donald Trump prevents manufacturers from leaving the U.S., expect them to use robots to keep labor costs down."
  • The strategy: "For long-term investors, robots could be one key to securing healthy corporate profit growth, and stock returns, even as wages rise."
  • "Factory robots look nothing like Rosie from The Jetsons, the nameless B9 model from Lost in Space, or the one on the cover of this magazine. Many are hulking arms with rotating joints and interchangeable tools that can weld, stack, paint, assemble, and more."
  • Unintended consequences? "One thing that could accelerate U.S. robot deployments is a corporate tax cut, which would reduce the overall cost of manufacturing in the U.S., but not the labor cost. Another is a border adjustment tax, which would reward exporters while penalizing importers. Accelerated depreciation on capital investments would give companies an immediate tax break on money spent to automate factories."

Go deeper

Updated 39 mins ago - Politics & Policy

Inauguration Day dashboard

Screenshot: Fox News

President Trump has delivered a farewell speech and departed Washington for the last time on Air Force One, kicking off the day that will culminate with President-elect Joe Biden taking office.

What's next: The inaugural celebration for young Americans is being livestreamed, starting at 10am.

Updated 55 mins ago - Politics & Policy

Trump departs on final Air Force One flight

President Trump and his family took off on Air Force One at 9 a.m. on Wednesday morning for the final time en route to Florida.

The big picture: Trump's final hours as president were punctuated by his decisions to snub his successor's inauguration and grant pardons to many of his allies who have been swept up in corruption scandals.

Dion Rabouin, author of Markets
2 hours ago - Economy & Business

Janet Yellen said all the right things to reassure the markets

Illustration: Aïda Amer/Axios

Treasury Secretary nominee and former Fed chair Janet Yellen's confirmation hearing before the Senate Finance Committee on Tuesday showed markets just what they can expect from the administration of President-elect Joe Biden: more of what they got under President Trump — at least for now.

What it means: Investors and big companies reaped the benefits of ultralow U.S. interest rates and low taxes for most of Trump's term as well as significant increases in government spending, even before the coronavirus pandemic.

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