President Donald Trump meets with Chinese President Xi Jinping at the G20 Summit. Photo: Evan Vucci / AP

President Trump is negotiating with China Petroleum & Chemical Corp. on a multibillion-dollar energy investment that "would bring thousands of new jobs to hurricane-ravaged areas in Texas and the U.S. Virgin Islands," per a Bloomberg report.

Why it matters: Per Bloomberg, the deal "may provide a political boost" to Trump, who spoke frequently about bringing jobs and investments back to the U.S. While the deal still needs approval from U.S. and China, Bloomberg reports it would cut the trade deficit between the U.S. and China by $10 billion annually. Trump is expected to travel to China November 8-10 with representatives from around 40 different companies to "sign deals for billions of dollars in U.S. investments, per Bloomberg.

Go deeper

Dion Rabouin, author of Markets
27 mins ago - Economy & Business

Investors have nowhere to hide

Photo: Jeenah Moon/Getty Images

The massive losses in oil prices and U.S. and European equities were not countered by gains in traditional safe-haven assets on Wednesday.

Why it matters: The unusual movement in typical hedging tools like bonds, precious metals and currencies means they are not providing investors an asset that will appreciate in the event of a major equity selloff.

Kendall Baker, author of Sports
32 mins ago - Sports

A look inside sports owners' political donations

Data: ESPN/FiveThirtyEight; Chart: Axios Visuals

Sports team owners in the four largest North American leagues (NFL, NBA, MLB, NHL) have donated over $46 million in federal elections since 2015, according to research conducted by ESPN and FiveThirtyEight.

By the numbers: Over the past three elections, $35.7 million of that money (77.4%) has gone to Republican campaigns and super PACs, compared to $10.4 million (22.6%) to Democrats.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: Large coronavirus outbreaks leading to high death rates — Coronavirus cases are at an all-time high ahead of Election Day — Fauci says U.S. may not return to normal until 2022
  2. Politics: Space Force's No. 2 general tests positive for coronavirus
  3. World: Taiwan reaches a record 200 days with no local coronavirus cases
  4. Europe faces "stronger and deadlier" wave France imposes lockdown Germany to close bars and restaurants for a month.
  5. Sports: Boston Marathon delayed MLB to investigate Dodgers player who joined celebration after positive COVID test.