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Trump leaves a rally in Fayetteville, North Carolina, Sept. 9. Photo: Preston Ehrler/SOPA Images/LightRocket via Getty Images

President Trump's re-election campaign and the Republican National Committee said they raised $125 million in the third quarter of 2019 on Tuesday, setting a new presidential fundraising record, with $158 million combined cash on hand.

Context: Former President Obama and the Democratic National Committee raised approximately $70 million for his re-election campaign in 2011's third quarter. "Trump is going to have more resources to deploy earlier and more aggressively than any candidate in history," Dan Pfeiffer, a former senior adviser to Obama, tweeted in response to the news on Oct. 1, when the campaign first announced the haul.

  • Trump's re-election campaign said it received 1,056,126 individual donations in Q3, of which roughly 98% were $200 or less, and an average donation of $44.50.
  • The campaign spent just over $2 million on legal consulting in Q3 — the most it has ever spent in any single quarter, ProPublica's Derek Willis reports.

The big picture: Sen. Bernie Sanders thus far leads all 2020 Democrats in Q3 fundraising, with a $25.3 million haul and $33.7 million cash in hand.

  1. Sen. Bernie Sanders: $25.3 million
  2. Sen. Elizabeth Warren: $24.6 million
  3. Mayor Pete Buttigieg: $19.1 million
  4. Former Vice President Joe Biden: $15.2 million
  5. Sen. Kamala Harris: $11.6 million
  6. Former tech executive Andrew Yang: $10 million
  7. Sen. Cory Booker: $6 million
  8. Former Rep. Beto O'Rourke: $4.5 million
  9. Author Marianne Williamson: $3 million
  10. Sen. Michael Bennet: $2.1 million

Editor's note: This piece has been updated with the latest information.

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Moderna's COVID-19 vaccine is effective against new variants of the virus that first appeared in the U.K. and in South Africa, the company announced on Monday.

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Xi Jinping warns against "new cold war" in Davos speech

Chinese President Xi Jinping. Photo: Wang Zhao - Pool/Getty Images

Chinese President Xi Jinping warned that a "new cold war" could turn hot, and must be avoided, in a speech on Monday at World Economic Forum’s virtual “Davos Agenda” conference.

Why it matters: Xi didn't refer directly to U.S.-China tensions, but the subtext was clear. These were his first remarks to an international audience since the inauguration of President Biden, whose administration has already concurred with Donald Trump's determination that China is committing "genocide" against Uyghur Muslims, and issued a warning about China's aggression toward Taiwan.