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Expand chart
Data: FactSet; Chart: Axios Visuals

The S&P 500 has jumped 42% under President Trump — according to market data from the inauguration through 2019's final day of trading.

Why it matters: Trump uses the stock market's surge as a barometer of his presidency's success — one that, along with the 50-year low unemployment rate, he's sure to continue to tout as the 2020 election approaches — but the gains under him lag those under former Presidents Barack Obama, when stocks rebounded from the lows of the financial crisis, and George H.W. Bush.

  • Even if you count the 2016 post-election day market rally, the S&P's performance is still behind former President George H.W. Bush (measuring from election day through the end of the third year in office).

The bottom line: Only about half of Americans own stocks, "largely through retirement accounts," as the Washington Post notes, citing Federal Reserve data.

  • Meanwhile, Trump's trade war, which added to stock market volatility, has cut into the financial well-being of America's farmers.

Go deeper:

Go deeper

Big European soccer teams announce breakaway league

Liverpool's Mohamed Salah (L) after striking the ball during the UEFA Champions League Quarter Final Second Leg match between Liverpool F.C. and Real Madrid at Anfield in Liverpool, England, last Wednesday. Photo: John Powell/Liverpool FC via Getty Images

12 of world soccer's biggest and richest clubs announced Sunday they've formed a breakaway European "Super League" — with clubs Manchester United, Liverpool, Barcelona Real Madrid, Juventus and A.C. Milan among those to sign up.

Why it matters: Britain and Italy's prime ministers are among those to express concern at the move — which marks a massive overhaul of the sport's structure and finances, and it effectively ends the decades-old UEFA Champions League's run as the top tournament for European soccer.

3 hours ago - Politics & Policy

Senate Democrats settling on 25% corporate tax rate

Sen. Joe Manchin (D-W.Va.). Photo: Chip Somodevilla/Getty Images

The universe of Democratic senators concerned about raising the corporate tax rate to 28% is broader than Sen. Joe Manchin, and the rate will likely land at 25%, parties close to the discussion tell Axios.

Why it matters: While increasing the rate from 21% to 25% would raise about $600 billion over 15 years, it would leave President Biden well short of paying for his proposed $2.25 trillion, eight-year infrastructure package.

GOP pivot: Big business to small dollars

Illustration: Annelise Capossela/Axios

Republican leaders turned to grassroots supporters and raked in sizable donations after corporations cut them off post-Jan. 6.

Why it matters: If those companies hoped to push the GOP toward the center, they may have done just the opposite by turning Republican lawmakers toward their most committed — and ideologically driven — supporters.