Small business confidence hit its highest reading in December since 2004, and the largest single-month increase since 1980.

What this means: Small-business owners, who tend to lean Republican, are very hopeful about the Trump Administration, and what his efforts with a Republican Congress can do to cut regulations and taxes. Their optimism tracks consumer confidence and the stock market.

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Cook Political Report moves Texas to "toss up" in presidential race

Photo: Brendan Smialowski/AFP via Getty Images

Cook Political Report moved Texas from "lean Republican" to "toss up" for the 2020 presidential race on Wednesday.

Why it matters: Texas, which has 38 electoral votes, hasn't backed a Democrat for president since 1976. A win for Biden in the historically red state would likely be a knockout blow against Trump.

Ben Geman, author of Generate
1 hour ago - Energy & Environment

Why the pandemic's carbon cuts still won't head off a climate emergency

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Data: BloombergNEF; Chart: Axios Visuals

Global carbon emissions from energy, which are the lion's share, will never fully come back from pre-pandemic levels — recovering from a pandemic-fueled decline but sinking again around 2027 with renewable energy on the rise — according to a BloombergNEF analysis.

But, but, but: It still won't prevent the planet from cooking, as the firm still sees enough emissions to lead to over 3.3°C of warming above preindustrial levels by century's end.

Dion Rabouin, author of Markets
3 hours ago - Economy & Business

Coronavirus surge is sinking consumer confidence

Data: Hamilton Place Strategies, CivicScience; Chart: Axios Visuals

The rise in coronavirus cases in certain parts of the U.S. is stunting confidence across the country, a crop of new reports show.

Driving the news: After stalling during the previous two-week period, overall economic sentiment declined for the first time in two months, according to the Economic Sentiment Index, a biweekly survey from data firm CivicScience and Hamilton Place Strategies (HPS).