Mar 26, 2018

Axios PM

Situational awareness: The stock market had a massive day of gains as trade fears eased, with the Dow finishing 670 points up and putting an end to last week's streak of stock misery.

Debuting tomorrow ... A new twice-weekly Axios newsletter, Codebook: Joe Uchill decodes the latest in cybersecurity, including policy and defense news. 1-click signup here.

1 big thing: Facebook feels the burn

Facebook's woes have entered the Washington bloodstream, with Congress amplifying calls to testify and the Federal Trade Commission confirming today the existence of a non-public investigation into the company's user privacy practices.

“The FTC is firmly and fully committed to using all of its tools to protect the privacy of consumers. Foremost among these tools is enforcement action against companies that fail to honor their privacy promises... [T]he FTC takes very seriously recent press reports raising substantial concerns about the privacy practices of Facebook. Today, the FTC is confirming that it has an open non-public investigation into these practices.”

Why it matters: Facebook's issues are no longer just with its users (approval way down) and its investors (stock struggling, although Zuck's job is perfectly safe).

But, but, but: The public is still mixed on regulating Big Tech.

2. What you missed

Sequita Thompson, grandmother of Stephon Clark who was shot and killed by Sacramento police, cries during a news conference in Sacramento, California. Photo: Justin Sullivan/Getty Images

  1. The father of Pulse Nightclub gunman Omar Mateen was a confidential FBI informant, prosecutors revealed today. Details.
  2. Trump has signed an order expelling 60 Russian intelligence and diplomatic officers in response to Russia's involvement in the poisoning of a former Russian spy in the U.K. More.
  3. Trump's red line on Russia: Why the president is loath to criticize Vladimir Putin by name or call him out in one-on-one conversations. Insight.
  4. Israeli Prime Minister Benjamin Netanyahu to Europe: You have to pick America or Iran when it comes the Iran deal. More.
  5. The White House told reporters today that Trump "strongly, clearly, and consistently has denied" adult film actress Stormy Daniels' claims of a 2006 affair and subsequent intimidation to keep her quiet. Details... P.S. Her "60 Minutes" interview was a ratings bonanza.
  6. Inside Trump's struggles to find legal talent: Swan dives into the president's issue finding good lawyers, despite his claims that no one would turn him down.
3. Choose your own adventure

A pair of Axios videos for your viewing:

  1. Some say Silicon Valley has peaked, with some venture capitalists shifting attention to new opportunities in the Midwes. Axios’ Dan Primack explains why investors aren't likely to abandon the Bay Area, while Revolution’s Steve Case explains why the middle of the country is starting to catch the eyes of investors and entrepreneurs alike. Watch.
  2. We asked young people at the D.C. #MarchForOurLives to put into their own words why they marched. Watch.