A number of traders are learning to tune out President Trump's rhetoric: The value of the dollar is up today despite Trump's claim that the greenback is "too strong," and pharmaceutical shares are up since his inauguration despite a vow to crack down on high drug prices.

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Data: Money.net; Chart: Andrew Witherspoon / Axios

Reversals: The dollar has rallied by 0.43% today, and the Mexican peso has recovered much of the value it lost between Trump's election and his inauguration; since Jan. 20, the peso is up 15.5%. The PowerShares Dynamic Pharmaceuticals ETF, meanwhile, has gained 8.2% since inauguration day, compared with a 4.8% rise in the S&P 500.

Why it matters: Some traders are separating rhetoric from action, and may be scaling back their expectations of how much of the president's agenda will be enacted.

The exception: Bond markets appear to take the president more seriously. Trump has stated a preference for low interest rates, and the yield on the 10-year T-note has fallen 1.75% over the past two trading days.

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Trump casts himself as chief defender of American history in divisive speech at Rushmore

President Trump spoke out against a "merciless campaign" to wipe out American history during a Fourth of July celebration at Mount Rushmore.

Why it matters: Trump's "dark and divisive" speech comes as states continue to hit new coronavirus records and a national reckoning against racial inequities pushes forward, The New York Times writes. Trump's public approval is faltering heading toward the November elections, and he made an appeal to his base at Friday's spectacle, per The Washington Post.

Drive-in movie theaters are making a comeback

Illustration: Annelise Capossela/Axios

Drive-in movie theaters, the symbol of a bygone era before cellphones and constant distraction, are suddenly reemerging as a popular form of entertainment during the coronavirus crisis.

Why it matters: Indoor movie theaters are closed, but people still crave entertainment and a chance to get out of their houses. Watching a movie from the safety of a car is the next best thing.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 7:30 a.m. ET: 11,093,182 — Total deaths: 525,491 — Total recoveries — 5,890,052Map.
  2. U.S.: Total confirmed cases as of 7:30 a.m. ET: 2,795,163 — Total deaths: 129,437 — Total recoveries: 790,404 — Total tested: 34,213,497Map.
  3. States: ICU beds in Arizona's hot spot reach near capacity.
  4. Public health: The states where face coverings are mandatory Fauci says it has been a "very disturbing week" for the spread of the coronavirus in the U.S.
  5. Economy: The economy may recover just quickly enough to kill political interest in more stimulus.