Jan 3, 2019

Axios PM

Situational awareness: Stocks got slammed today, with the Dow finishing down 2.83%, or 662 points, the S&P 500 down 2.48% and Nasdaq off 3.04%. Details.

1 big thing: The first and second female speaker

Photos: Getty Images

Nancy Pelosi is once more the most powerful Democrat in the country, assuming the task of leading her caucus through a generational change as the Democratic Party increasingly looks like the people it represents.

  • After becoming the first female speaker of the House in 2007, she became the second one today by reclaiming the gavel.

Why it matters: Pelosi now has the hardest job in D.C.

  • Democrats increasingly describe climate change as the crisis of our time, with younger members in particular demanding it receive special urgency.
  • Democrats are facing an internal debate on how to approach a potential impeachment of President Trump.
  • It will be the House, not the Senate, where the major investigations will play out and the media attention will be focused.

Between the lines: The two sides of the House chamber looked drastically different today, Axios' Caitlin Owens notes.

  • All but 13 House Republicans this Congress are men, and the vast majority are white.
  • While the GOP side of the chamber was filled with dark suits and red or purple ties, the Democratic side was filled with colorful attire and people of varying racial and ethnic backgrounds.

This Congress also features a string of "firsts"...

  • First Muslim women: Reps. Rashida Tlaib (D-Mich.) and Ilhan Omar (D-Minn.)
  • First Native American women: Reps. Sharice Davids (D-Kan.) and Deb Haaland (D-N.M.)
  • Youngest woman: 29-year-old Alexandria Ocasio-Cortez (D-N.Y.)

What's next: Democrats in the House plan to pass legislation to end the partial shutdown, though it likely won't get far in the Senate.

Go deeper: Today's historic moments, via Axios' Stef Kight

Bonus: Pics du jour
Photo: Chip Somodevilla/Getty Images

Above: A jubilant Pelosi.

Below: A laughing Alexandria Ocasio-Cortez.

Photo: Win McNamee/Getty Images

1 fun pic: Rep. Rashida Tlaib (D-MI), flanked by her kids, votes for Pelosi.

Photo: Chip Somodevilla/Getty Images
2. What you missed
  1. The private sector added 271,000 jobs in December according to ADP's national employment report, significantly more than the 178,000 that economists expected. Go deeper.
  2. Bristol-Myers Squibb is acquiring Celgene in a stock-and-cash deal worth $74 billion, creating a pharmaceutical giant with roughly $37 billion in annual drug sales. Go deeper.
  3. Russian authorities have formally brought espionage charges against American citizen Paul Whelan. Go deeper.
  4. Saudi Arabia plans to seek the death penalty against five suspects in the killing of Washington Post columnist Jamal Khashoggi. Go deeper.
  5. 1 podcast thing: Axios' Dan Primack and Ina Fried discuss Apple's surprise earnings warning, and if it's more a story about China's economic slowdown or a saturated smartphone market. Listen here.
3. 1 Moon thing
Photo: Xinhua/Xinhua via Getty Images

The first image of the moon's far side taken by China's Chang'e-4 probe, which completed the first spacecraft soft landing on that side of the moon.

Go deeper.