Illustration: Sarah Grillo/Axios

Buckle up: President Trump's prime-time Oval Office speech tonight comes on Day 18 of a shutdown he caused on the issue he wants to define his presidency — immigration.

Following Trump's speech at 9 pm ET, House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer will appear on air from the House Speaker's Balcony Hallway.

  • Unlike last year, when Democrats could only express their concern about Trump, Pelosi now speaks as a figure Trump needs to deal with on equal terms.
  • Trump isn’t expected to declare a national emergency, WSJ reports.

Between the lines: Trump appears to be playing defense.

  • It's unclear why incoming Democrats would be swayed by this issue so shortly after the president made it a central election topic and his party lost the House.
  • House Democrats also plan to start introducing bills to re-open parts of the government, hoping the threat of defecting Republicans persuades leadership to break with Trump.
  • Senate Democrats are working to grind legislation to a standstill to pressure Mitch McConnell, the NY Times reports.
  • Trump will attend a Senate Republican lunch meeting on Wednesday, according to multiple people familiar with the decision.

Go deeper: Reality check — The truth about Trump's border crisis

Go deeper

Dion Rabouin, author of Markets
49 mins ago - Economy & Business

Investors are betting the future is priced in euros

Illustration: Aïda Amer/Axios

It's the euro's time now — at least that's how investors have been positioning recently.

What's happening: Speculators have raised their bets to the highest in nine years that the dollar will fall and increased bullish bets that the euro will rise to the highest level on record, Reuters reported citing data from the CFTC.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Annelise Capossela/Axios

  1. Global: Total confirmed cases as of 7 a.m. ET: 20,317,087 — Total deaths: 742,035— Total recoveries: 12,602,544Map.
  2. U.S.: Total confirmed cases as of 7 a.m. ET: 5,141,879 — Total deaths: 164,545 — Total recoveries: 1,714,960 — Total tests: 63,252,257Map.
  3. States: Georgia reports 137 coronavirus deaths, setting new daily record Florida reports another daily record for deaths.
  4. Health care: Trump administration buys 100 million doses of Moderna's coronavirus vaccine.
  5. Business: Moderna reveals it may not hold patent rights for vaccine.
  6. Sports: Big Ten and Pac 12 scrap fall footballMLB salaries at 37%
  7. World: Lebanon reported record new cases as UN warned blast may drive spike — Fauci "seriously" doubts Russia's coronavirus vaccine is safe
Mike Allen, author of AM
2 hours ago - Politics & Policy

3 keys to Joe Biden picking Kamala Harris

Photo: Jeff Kowalsky/AFP via Getty Images

Three quick points about Joe Biden's historic selection of Sen. Kamala (pronounced COMMA-luh) Harris of California as his running mate — and clues they give us to how Biden would govern:

  1. She was always at the top of his list. As I look back through my text threads with top Dems over the past five months, she was always assumed to be the most likely pick.