Aug 3, 2017

Wall Street is booming despite Washington chaos

A screen above the floor of the New York Stock Exchange shows the Dow close. Richard Drew / AP

"Wall Street, Climbing Sharply, Skips Washington's 'Soap Opera,'" a New York Times front-pager by Nelson Schwartz: "[A ]market surge based on political hopes has been replaced by one more firmly grounded in the financial realm."

  • "None of the soap opera in Washington matters," said Frank Sullivan, chief executive of RPM International, a Cleveland-based maker of specialty coatings and sealants like Rust-Oleum. "Nobody in business cares about who talked to who in Russia."
  • "Besides steady economic growth or less regulation, investors ... have been encouraged by the loose reins of central banks like the Federal Reserve ... Inflation ... remains tame."
  • Why it matters: "Dow Hits 22000, Powered by Apple ... another milestone in the long bull market as investors bet that a resurgent global economy can offset lukewarm U.S. growth," per Wall Street Journal's Akane Otani and Ben Eisen.

Go deeper

West Virginia is latest state to delay primary due to coronavirus

Photo: Barbara Davidson/Getty Images

West Virginia Gov. Jim Justice rescheduled the state's May 12 primary election to June 9 on Wednesday, citing fears surrounding the coronavirus pandemic, AP reports.

Why it matters: 23 other states and the District of Columbia haven't held primaries yet. The White House is recommending, for now, that Americans practice social distancing and gather in groups of no more than 10 people — while many states have issued stay-at-home orders.

Go deeperArrowUpdated 3 mins ago - Politics & Policy

Florida governor issues stay-at-home order

Photo: Joe Raedle/Getty Images

Florida Gov. Ron DeSantis ordered a statewide stay-at-home order on Wednesday after the number of coronavirus cases in the state rose to nearly 7,000.

Why it matters: DeSantis has been criticized for declining to order any statewide mandates to curb the spread of coronavirus as Florida — home to a significant elderly population — has increasingly become a hotspot. The governor said at a press conference Tuesday that he was "in contact" with the White House coronavirus task force and that he would wait for their recommendation.

This story is developing. Please check back for updates.

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 12:30 p.m. ET: 885,687 — Total deaths: 44,216 — Total recoveries: 185,447Map.
  2. U.S.: Total confirmed cases as of 12:30 p.m. ET: 190,089 — Total deaths: 4,127 — Total recoveries: 7,141Map.
  3. Federal government latest: Vice President Mike Pence said that White House modeling suggests "Italy may be the most comparable area to the United States" in terms of the impact of the coronavirus pandemic.
  4. State updates: Washington and California appear to have slowed their surges of new cases — Florida cases have been doubling the past four days, approaching 7,000.
  5. China: The coronavirus could threaten D.C.'s bipartisan China consensus.
  6. 2020 update: Bernie Sanders urges Wisconsin to delay April 7 primary.
  7.  🎧 Podcast: The Defense Production Act
  8. What should I do? Answers about the virus from Axios expertsWhat to know about social distancingQ&A: Minimizing your coronavirus risk.
  9. Other resources: CDC on how to avoid the virus, what to do if you get it.

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