Wall Street's close on August 1, 2018. Photo: Bryan R. Smith/AFP/Getty Images

"Americans’ perceptions of the economy’s prospects increasingly depend more on their political identity than statistics on output or stock markets," points out Patricia Cohen, who covers the national economy for the N.Y. Times:

Why it matters: "The same gauges that illustrate this administration’s economic successes also make clear that they are built on the achievements of the previous one, and that the economy is following the upward trajectory begun under President Barack Obama."

Watch this:

  • "In the 18 months before Mr. Trump moved into the White House, 3.7 million jobs were created, seven in 10 Americans said they were doing fine or living comfortably and the economy grew."
  • "In the 18 months since, 3.4 million jobs were created, seven in 10 Americans said they were doing fine or living comfortably and the economy grew."

Be smart: "Stubbornly slow wage growth and wide income gaps have spanned both periods."

Go deeper

Ben Geman, author of Generate
5 mins ago - Energy & Environment

Tallying Trump's climate changes

Reproduced from Rhodium Climate Service; Chart: Axios Visuals

The Trump administration's scuttling or weakening of key Obama-era climate policies could together add 1.8 gigatons of carbon dioxide equivalent to the atmosphere by 2035, a Rhodium Group analysis concludes.

Why it matters: The 1.8 gigatons is "more than the combined energy emissions of Germany, Britain and Canada in one year," per the New York Times, which first reported on the study.

Boeing's one-two punch

Illustration: Aïda Amer/Axios

The grounding of Boeing’s 737 MAX was the worst crisis in the plane-maker’s century-long history. At least until the global pandemic hit.

Why it matters: Wall Street expects it will be cleared to fly again before year-end. Orders for what was once the company’s biggest moneymaker were expected to rebound after the ungrounding, but now the unprecedented slump in travel will dash airlines’ appetite for the MAX and any other new planes, analysts say — putting more pressure on the hard-hit company.

New downloads of TikTok, WeChat to be blocked in U.S. on Sunday

Illustration: Sarah Grillo/Axios

The Commerce Department issued Friday an order blocking new downloads of WeChat and TikTok in the U.S. as of Sept. 20.

The state of play: President Trump has been in a standoff with TikTok, threatening to ban the app if its Chinese owner, ByteDance, does not relinquish control to a U.S. company. A deal is in the works with the American tech company Oracle, but would need to go through before Sunday to prevent TikTok from being ousted from app stores.