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Wall Street is reacting positively to news that Steve Bannon is out as senior advisor to President Trump.

Axios' Jonathan Swan first reported at 11:13pm ET that Bannon was likely a goner, which caused the Dow Jones Industrial Average to gain more than 60 points over 20 minutes. The momentum then kept going, with another mini-spike after a the NY Times' Maggie Haberman tweeted that a decision had been made.

Expand chart
Data: Money.net; Chart: Andrew Witherspoon / Axios

Confetti: CNBC reports that floor traders on the New York Stock Exchange cheered the news.

Contrast: Stocks yesterday had their worst session in months, partially due to rumors that former Goldman Sachs president Gary Cohn could step down as Trump's top economic advisor, thus potentially threatening tax reform.

Go deeper

2 hours ago - World

Iran rejects nuclear talks with U.S., for now

Iranian Foreign Minister Javad Zarif at Iran/EU talks in 2015. Photo: Carlos Barria/POOL/AFP via Getty

A spokesman for Iran’s Foreign Ministry said on Sunday that conditions are not ripe for informal nuclear talks between Iran, the U.S. and other world powers.

Why it matters: The Biden administration had proposed the talks as part of its efforts to negotiate a path back to the 2015 nuclear deal. The White House expressed disappointment with Iran's response, but said it remained willing to engage with Tehran.

2 hours ago - Health

U.S. sets weekend records for daily COVID vaccinations

A driver waits to receive the Pfizer-BioNTech Covid-19 vaccine in Inglewood, California on Feb. 26. Photo: Eric Thayer/Bloomberg via Getty Images

Just over 2.4 million coronavirus vaccinations were reported to the CDC on Sunday, matching Saturday's record-high for inoculations as seen in Bloomberg's vaccine tracker.

Why it matters: Vaccinations are ramping up again after widespread delays caused by historic winter storms. Over 75 million vaccine doses have been administered thus far, with 7.5% of the population fully vaccinated and 15% having received at least one dose.

GOP Sen. Bill Cassidy: "We will lose" if we continue to idolize Trump

Sen. Bill Cassidy (R-La.) told CNN's "State of the Union" Sunday he does not believe that former President Trump will, or should, be the Republican nominee for president in 2024.

What he's saying: Cassidy pointed out that "over the last four years, [Republicans] lost the House of Representatives, the Senate and the presidency. That has not happened ... since Herbert Hoover."