Nov 11, 2017

Why the Trump rally might last

Photo: Elizabeth Robertson / The Philadelphia Inquirer via AP

The Standard & Poor's 500 index, the broadest measure of the stock market, notched 61 record highs and climbed about 21.3% in the first year since Trump was elected president, AP's Alex Veiga writes. But what's really interesting is the reason — and it's not just tax-cut expectations.

Be smart: "[T]he biggest driver of the market's gains has been strong corporate profits, Wall Street analysts say.""[M]ore companies than usual are ... reporting higher [earnings and] revenue than analysts had forecast.""Stock prices tend to track corporate profits over the long term, so the better-than-expected earnings growth helps to validate the stock market's record-setting run, at least somewhat.""Investors have also continued to bet big on economic growth in the U.S. and worldwide as economies in Europe and Asia have bounced back.""Since Trump's election, technology companies have led the way with a 39% surge. Banks and industrial and basic materials companies have also soared. Only phone company stocks are down from a year ago."

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America's future looks a lot like Nevada

Illustration: Sarah Grillo/Axios

Today's Nevada caucus will foreshadow the future of American politics well beyond 2020.

Why it matters: The U.S. is in the midst of a demographic transformation, and the country's future looks a lot like Nevada's present. Today's results, in addition to shaping the 2020 race, will help tell us where politics is headed in a rapidly changing country.

Coronavirus spreads to more countries, and U.S. ups its case count

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens.

The novel coronavirus continues to spread to more nations, and the U.S. reports a doubling of its confirmed cases to 34 — while noting those are mostly due to repatriated citizens, emphasizing there's no "community spread" yet in the U.S. Meanwhile, Italy reported its first virus-related death on Friday.

The big picture: COVID-19 has now killed at least 2,359 people and infected more than 77,000 others, mostly in mainland China. New countries to announce infections recently include Israel, Lebanon and Iran.

Go deeperArrowUpdated 14 hours ago - Health