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Stocks ride Thursday roller coaster

Dan Primack, author of Pro Rata

Photo by Spencer Platt/Getty Images

Stocks had a tumultuous ride on Thursday, with the Dow Jones Industrial average falling 761 points before recovering to close down just 79 points.

What happened: U.S. markets initially followed a global sell-off that was sparked by the arrest of Huawei CFO Meng Wanzho, but then settled and raced to the close after a Wall Street Journal report that the Fed may become even more tentative on interest rate hikes.

Go deeper

Alayna Treene, author of Sneak Peek
44 mins ago - Politics & Policy

McConnell drops filibuster demand, paving way for power-sharing deal

Senate Majority Leader Chuck Schumer (R) and Minority Leader Mitch McConnell attend a joint session of Congress. Photo: Olivier Douliery/AFP via Getty Images

Senate Minority Leader Mitch McConnell has abandoned his demand that Democrats state, in writing, that they would not abandon the legislative filibuster.

Between the lines: McConnell was never going to agree to a 50-50 power sharing deal without putting up a fight over keeping the 60-vote threshold. But the minority leader ultimately caved after it became clear that delaying the organizing resolution was no longer feasible.

Go deeper (1 min. read)Arrow
Ashley Gold
2 hours ago - Technology

Scoop: Google won't donate to members of Congress who voted against election results

Sen. Ted Cruz led the group of Republicans who opposed certifying the results. Photo: Stefani Reynolds/Pool/AFP via Getty Images

Google will not make contributions from its political action committee this cycle to any member of Congress who voted against certifying the results of the presidential election, following the deadly Capitol riot.

Why it matters: Several major businesses paused or pulled political donations following the events of Jan. 6, when pro-Trump rioters, riled up by former President Trump, stormed the Capitol on the day it was to certify the election results.

Go deeper (<1 min. read)Arrow
Alayna Treene, author of Sneak Peek
3 hours ago - Politics & Policy

Minority Mitch still setting Senate agenda

Illustration: Aïda Amer/Axios

Chuck Schumer may be majority leader, yet in many ways, Mitch McConnell is still running the Senate show — and his counterpart is about done with it.

Why it matters: McConnell rolled over Democrats unapologetically, and kept tight control over his fellow Republicans, while in the majority. But he's showing equal skill as minority leader, using political jiujitsu to convert a perceived weakness into strength.

Go deeper (2 min. read)Arrow