Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on the day's biggest business stories

Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Stay on top of the latest market trends

Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Axios on your phone

Get breaking news and scoops on the go with the Axios app.

Download for free.

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios NW Arkansas

Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Photo: Andrew Harnik / AP

President Trump took credit Saturday for stock market gains since his election, telling reporters on Air Force One he's "always been great with money" and he's "always been great with jobs, that's what I do."

Why it matters: These quotes won't age well if the stock market takes a turn for the worse. They also came in response to questions about how Trump wants China, which recently elevated President Xi Jinping to a status not achieved since Mao Zedong, to view the U.S.

Go deeper: Trump's stock market expansion vs. those under Obama and Bush.

---

Full test of Trump's answers on the subject below. For context, this starts in response to a question "about Xi's consolidation of power, compared with Trump entering China, with Xi coming off a very successful run":

"Excuse me, so am I. Highest stock market in history, lowest unemployment in 17 years, a military that's rapidly rebuilding, ISIS is virtually defeated in the Middle East. We are coming off some of the strongest numbers we've ever had, and he knows that and he respects that and he's a friend of mine. We're friends.
"Now, with that being said, he represents China, I represent the United States. But we're going in with tremendous strength. We're going in with a stock market that's higher than ever before. We literally Friday closed at the highest point in the history of the stock market. You look at the unemployment numbers—we picked up 5.5 trillion dollars since my election in market value. These are tremendous numbers. Whether it's China or anybody else, these are massive numbers."

Then Trump is asked how he wants China to view the U.S. at the end of the trip:

"Well I think he's viewing us very, very strong, and also very friendly. But we have to do better with trade with China, because it's a one-way street right now and it has been for many years. And we will.
"But the reason our stock market is so successful is because of me. I've always been great with money, I've always been great with jobs, that's what I do. And I've done it well, I've done it really well, much better than people understand and they understand I've done well. But we have a tremendous amount of strength because of what's happened. You know, think of it -- $5.5 trillion worth of value.
"But also, look at ISIS. Look at our military budget that we just had approved. We're at $700 billion, and by the way, going up. We make the best military equipment in the world. A shot was just taken by Iran, at my opinion, at Saudi Arabia. You know about that, right? You saw the missile that went out? And our system knocked the missile out of the air. That's how good we are. Nobody makes what we make, and now we're selling it all over the world.
"One of the reasons our markets are so high and our defense companies are doing so well is I am demanding our allies and people we are working with that they buy our equipment. Now, there's two advantages to that. Number one, we make by far the best equipment, but, number two, they're buying from us.
"So I think we're going in with tremendous strength. I mean, I don't think – I mean, there's a question that you asked, and I understand the question. But when you think on Friday we hit the highest point in the history of our stock market when we picked up from November 8, which can you believe it is almost exactly one year?
"We going to be at China together? We'll have to celebrate together. November 8. I hope we'll all celebrate together, but — in fact I was going to have a big celebration party, and then I said, 'Well…' We'll celebrate together. But, um, what you think of $5.5 trillion, when you think what we've done to ISIS. Now, ISIS—the remnants—they go into Africa and other places and we're meeting them before they get there. So they've never seen anything like it. We have been more successful with ISIS than in eight years of the previous administration.
"So, anyway, I was just coming back to say hello. Go and have a good time. We'll see you a lot."

Go deeper

Pacific Northwest soon to be ground zero for record-shattering heat

Computer model projection showing the unusually strong heat dome over the Pacific Northwest on Sunday. (PivotalWeather).

A heat wave is bringing unprecedented high temperatures to the Pacific Northwest — a region of the country typically cooled by the ocean, rather than central air conditioning. The heat will begin Friday and last into early next week.

Why it matters: The heat wave will shatter monthly and all-time temperature records in the Pacific Northwest. Some of the records could break the old milestones by several degrees.

At least one person killed, 99 missing after deadly Miami-area condo collapse

A massive search-and-rescue operation is underway after a portion of a 12-story residential building in Surfside, Florida, collapsed at approximately 1:30 a.m. Thursday, according to AP.

The latest: Officials have accounted for 102 people who lived in the high-rise Champlain Towers South, but 99 people remained unaccounted for by midafternoon, said Mayor Daniella Levine Cava of Miami-Dade County at a press conference Thursday afternoon.

Biden strikes infrastructure deal with bipartisan group of senators

President Biden announced Thursday that he had agreed to a roughly $1 trillion infrastructure plan with a bipartisan group of ten senators, declaring: "We have a deal."

Why it matters: The agreement on the size and scope of an infrastructure package is a major achievement for Biden, who has long been a proponent of bipartisanship, but the compromise still faces serious hurdles in the House and Senate.