Chinese and American flags in Beijing. Photo: Fred Dufour/AFP/Getty Images

In the wake of George Soros' broadside against China in Davos, expect to hear much more about China this week.

What to watch: The U.S. and China will hold another round of trade talks on Wednesday — this time in Washington. Vice Premier Liu He "may be bringing an offer of more significant structural concessions," says Bill Bishop of Sinocism, but don’t expect major breakthroughs.

What else to expect this week..
  • Caterpillar said last quarter that it was reeling from tariffs, so a lot of China watchers will be looking to its earnings tomorrow.
  • Apple is out with earnings on Tuesday. We already know the company had a rough quarter. Expect CEO Tim Cook to field a lot of questions from analysts about China, and none about his lunch with Brazilian President Jair Bolsonaro in Davos.
  • Microsoft and Amazon report earnings on Wednesday and Thursday, respectively. Also watch for reports from Facebook and Tesla, which is expected to be profitable for a second consecutive quarter.

The government is back open, but we may not get the final 2018 GDP report on Wednesday. The release may be postponed if there’s a big backlog of prep work for the Bureau of Economic Analysis employees who were furloughed.

  • The Fed concludes its two-day policy meeting on Wednesday. No rate hike is expected.
  • One report that’s coming for sure is the first jobs report of 2019, which will be released on Friday at 8:30 am. Economists estimate that 160,000 jobs were added in January. The unemployment rate is less predictable, as a lot of government workers will have been counted as unemployed for the reference week of Jan. 6–12.

Brexit is still an omnishambles. Reuters has an excellent guide to the various amendments you can expect this week, and which ones have a chance of passing.

  • TL;DR: Don't be surprised if the government loses control of parliament, allowing MPs to draft and vote on their own Brexit policies.

Go deeper: Chinese vice premier heads to D.C. for next round of trade talks

Go deeper

Markets swell as the economy shrinks

Illustration: Eniola Odetunde/Axios

The economy is sputtering, but the markets are thriving — a highly unusual event that shows how the coronavirus has thrown all bets off.

Why it matters: The disconnect adds to the wealth gap. The richest 10% of households — who own 84% of stocks — are getting richer, while millions of out-of-work Americans cross their fingers that pandemic unemployment benefits will be extended.

Updated 9 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 10 p.m. ET: 10,836,500 — Total deaths: 520,605 — Total recoveries — 5,723,808Map.
  2. U.S.: Total confirmed cases as of 10 p.m. ET: 2,735,554 — Total deaths: 128,684 — Total recoveries: 781,970 — Total tested: 33,462,181Map.
  3. Public health: The states where face coverings are mandatory Regeneron stops trial after drug fails to help patientsWhat we know about the coronavirus immune response — Fauci says it has been a "very disturbing week" for the spread of the coronavirus in the U.S.
  4. Business: Top business leaders urge the White House to develop mandatory mask guidelines.
  5. Politics: Herman Cain hospitalized for COVID-19 after attending Trump Tulsa rally — Biden downplays jobs number, rebukes Trump for ignoring health crisis.
  6. Economy: The economy may recover just quickly enough to kill political interest in more stimulus.
  7. States: Texas mandates face masks in public spaces Florida reports more than 10,000 new coronavirus cases, and its most-infected county issues curfew.
10 hours ago - Health

Fauci: Coronavirus surges mark a "very disturbing week" in the U.S.

Fauci testifies to the Senate Health, Education, Labor and Pensions Committee on June 30. Photo: Al Drago/AFP via Getty Images

NIAID director Anthony Fauci told medical journal JAMA on Thursday that it has been a "very disturbing week" for the spread of the novel coronavirus in the U.S.

What's happening: The number of coronavirus cases increased in the vast majority of states over the last week, and decreased in only two states plus the District of Columbia, Axios' Caitlin Owens reports.