Get the latest market trends in your inbox

Stay on top of the latest market trends and economic insights with the Axios Markets newsletter. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

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!

Denver news in your inbox

Catch up on 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!

Des Moines news in your inbox

Catch up on 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!

Minneapolis-St. Paul news in your inbox

Catch up on the most important stories affecting your hometown with Axios Minneapolis-St. Paul

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tampa-St. Petersburg news in your inbox

Catch up on the most important stories affecting your hometown with Axios Tampa-St. Petersburg

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!

Netanyahu (R) spoke with Pompeo (L) after the airstrikes. Photo: Kobi Gideon/GPO via Getty Images

U.S. airstrikes yesterday against the bases of pro-Iran forces in Syria and Iraq were welcomed enthusiastically by Israel's government, Israeli officials tell me.

Why it matters: Prime Minister Netanyahu congratulated Secretary of State Mike Pompeo on the airstrikes in a call yesterday. He had been very concerned by Trump’s Iran policies over the past several months, including his efforts to open dialogue and, even more so, his restraint after Iranian provocations like September's attack on Saudi oil installations.

What they're saying: The Israeli concern was kept behind closed doors until a speech last week by Israel Defense Forces chief of staff Aviv Kochavi:

“It was better if we were not the only ones acting against the Iranians, but unfortunately for now this the reality."
— Aviv Kochavi

But, but, but: Israeli Foreign Minister Israel Katz said yesterday's U.S. airstrikes were “a turning point in the regional response to Iran and its proxies, and if Iran fails to understand the power of the U.S., they will be making a big mistake."

What’s next: Despite Katz's framing, Israeli military and intelligence officials are not sure yet whether the strikes represent a shift or were an isolated incident motivated by the killing of an American contractor by a pro-Iranian militia in Iraq.

  • “Let's see if they continue attacking the Iranians," one senior Israeli intelligence official told me.

Go deeper

Inside Patch's new local newsletter platform

Illustration: Annelise Capossela/Axios

Patch, the hyperlocal (and profitable) local digital news company, has built a new software platform called "Patch Labs" that lets local news reporters publish their own newsletters and websites, sources tell Axios.

Why it matters: It follows a growing trend of journalists going solo via newsletters at the national level.

Scoop: Politico stars plot new Playbook

Anna Palmer and Jake Sherman. Photo: Alex Wong/Getty Images

Three of Politico’s biggest reporting stars plan to launch a competitor to the company’s Politico Playbook franchise, sources tell me. 

Why it matters:  Jake Sherman, Anna Palmer and John Bresnahan will launch a daily newsletter in 2021 as a stand-alone company, the sources say. In effect, they will be competing against the Playbook franchise they helped create and grow. 

Ben Geman, author of Generate
22 mins ago - Energy & Environment

Big Oil's big reckoning

Illustration: Sarah Grillo/Axios

There doesn't seem to be an oil major that's got it all figured out between the pandemic, cloudy demand and price outlooks, and the unknown path through a world getting a bit more serious about climate.

Driving the news: ExxonMobil yesterday afternoon showed the latest signs of its struggle to position itself as it announced large write-offs and a big rethink of long-term spending.