Pharmacist technician Irene Arrenquin fills a prescription at Pucci's Pharmacy in Sacramento, Calif. Photo: Rich Pedroncelli/AP

The Wall Street Journal reports a 5% increase of the NYSE Arca Pharmaceutical Index, and an 8% increase of the Nasdaq Biotechnology Index last month.

  • Possible reasons for this jump are the "return of large acquisitions" as seen in the stock increase in Gilead Sciences after buying cancer specialist Kite Pharma; another explanation is positive clinical data.
  • This "calmer political environment" could also be explained by the Trump administration not going after big pharma to crack down on drug prices like he promised while campaigning. This is pushing "the attractive investing traits of pharma to the forefront."

Why it matters: The vow to take on drug prices was part of Trump's populist streak during the campaign, but that rhetoric seems to have given way to the GOP's traditional, more industry-friendly position.

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Updated 6 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 8 p.m. ET: 18,185,015 — Total deaths: 691,303 — Total recoveries — 10,836,439Map.
  2. U.S.: Total confirmed cases as of 8 p.m. ET: 4,711,323 — Total deaths: 155,366 — Total recoveries: 1,513,446 — Total tests: 57,543,852Map.
  3. Politics: White House will require staff to undergo randomized coronavirus testing — Pelosi says Birx "enabled" Trump on misinformation.
  4. Sports: 13 members of St. Louis Cardinals test positive, prompting MLB to cancel Tigers series — Former FDA chief says MLB outbreaks should be warning sign for schools.
  5. 1 🎥 thing: "Tenet" may be the first major film to get a global pandemic release.

In photos: Thousands evacuated as Southern California fire grows

A plane makes a retardant drop on a ridge at the Apple Fire north of Banning in Riverside County, which "doubled in size" Saturday, per KTLA. Robert Gauthier / Los Angeles Times via Getty Images

A massive wildfire that prompted mandatory evacuations in Southern California over the weekend burned 26,450 acres and was 5% contained by Monday afternoon, the California Department of Forestry and Fire Protection said.

The big picture: As California remains an epicenter of the coronavirus pandemic in the U.S., some 15 separate fires are raging across the state. About 7,800 people were under evacuation orders from the Apple Fire, about 75 miles east of Los Angeles, as hundreds of firefighters battled the blaze. CalFire said Monday that a malfunction involving a "diesel-fueled vehicle emitting burning carbon from the exhaust system" started the Apple Fire.

Twitter faces FTC fine of up to $250 million over alleged privacy violations

Photo: Rafael Henrique/SOPA Images/LightRocket

The Federal Trade Commission has accused Twitter of using phone numbers and emails from its users to make targeted ads between 2013 and 2019, Twitter said in an SEC filing published Monday.

Why it matters: Twitter estimates that the FTC's draft complaint, which was sent a few days after its Q2 earnings report, could cost the company between $150 million and $250 million. The complaint is unrelated to the recent Twitter hack involving a bitcoin scam.