2017's FII. Photo: Fayez Nureldine/AFP/Getty Images

J.P. Morgan CEO Jamie Dimon last night became the first prominent Wall Streeter to say he won't attend next week's Future Investment Initiative conference in Riyadh, giving cover to folks like BlackRock's Larry Fink and Blackstone's Steve Schwarzman (both of whom officially pulled out this morning).

Be smart: It's much easier to bail on a conference than it is to unwind complex and lucrative business relationships.

  • Blackstone: Saudi Arabia committed up to $20 billion for a new global infrastructure fund that's targeting a total of $40 billion. Some other investors in the fund are beginning to murmur their disapproval, so we expect Blackstone to address the matter during its Thursday earnings call.
  • BlackRock: Last year BlackRock announced plans to open an office in Saudi Arabia (still a work in progress), and Fink expressed bullishness on "opportunity" in the kindgom after a summer visit.
  • J.P. Morgan: Picked to help manage the eventual Aramco IPO, J.P. Morgan has two operating licenses in Saudi Arabia, around 70 employees in Riyadh and has worked on sovereign bond offerings.

The bottom line: As of late Friday afternoon, all of these organizations (and others) were hoping that the Saudis would cancel or postpone the conference. It would have been a major embarrassment for the kingdom, but could have been a wise long-term play by maintaining good relations with Western business partners.

  • Now that ship has sailed, in part because of zero public pressure from the White House until a vague weekend threat via "60 Minutes" by President Trump (who also tweeted this morning that he's sending Secretary of State Mike Pompeo to Riyadh).
  • Treasury Secretary Mnuchin had reaffirmed on Friday that he'll attend the conference.

Also, and this cannot be overemphasized: No one knows the geopolitical or economic end game here, particularly if it results in Crown Prince Mohammed bin Salman losing his clear path to the throne.

Go deeper: Companies back away from Saudi business over missing journalist

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The positions of key GOP senators on replacing Ruth Bader Ginsburg

Senate Majority Leader Mitch McConnell talks to reporters on Capitol Hill last Thursday. Photo: Chip Somodevilla/Getty Images

With President Trump planning to nominate his third Supreme Court justice nominee by next week, key Republican senators are indicating their stance on replacing the late Justice Ruth Bader Ginsburg just over six weeks out from Election Day.

The big picture: Senate Majority Leader Mitch McConnell (Ky.) has vowed that "Trump’s nominee will receive a vote on the floor of the United States Senate." But Sen. Lisa Murkowski (Alaska) told Alaska Public Media, "I would not vote to confirm a Supreme Court nominee. We are 50 some days away from an election."

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ActBlue collects a record $91 million in hours after Ginsburg's death

A makeshift memorial in honor of Justice Ruth Bader Ginsburg in front of the U.S. Supreme Court on Sept. 19. Photo: Samuel Corum/Getty Images

ActBlue received a record $91.4 million in the 28 hours following Supreme Court Justice Ruth Bader Ginsburg's death, the Democratic donation-processing site confirmed to Axios late Saturday.

Why it matters via the New York Times: "The unprecedented outpouring shows the power of a looming Supreme Court confirmation fight to motivate Democratic donors."

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Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 11:30 p.m. ET: 30,674,077 — Total deaths: 955,440— Total recoveries: 20,908,811Map.
  2. U.S.: Total confirmed cases as of 11:30 p.m. ET: 6,764,803 — Total deaths: 199,258 — Total recoveries: 2,577,446 — Total tests: 94,211,463Map.
  3. Politics: In reversal, CDC again recommends coronavirus testing for asymptomatic people.
  4. Health: The dwindling chances of eliminating COVID-19.
  5. World: Guatemalan president tests positive for COVID-19 — The countries painting their pandemic recoveries green.