We’re both telling you what to focus on this week.
ELECTION DAY: Investors should be focused on the midterms this week — and consider how a shift in control of Congress could affect the economic recovery. On Tuesday, President Trump is scheduled to sit down with U.S. Sen. Elizabeth Warren (D-Mass.), one of his most outspoken critics, in what some analysts expect will be an attempt to reset relations between Trump and the Senate. Democrats are confident they will pick up three seats and possibly a fourth to retake the majority.
WATCHING THE WEATHER: On Monday morning, the National Weather Service forecasts a 90 percent chance of rain in D.C. Tuesday, when Trump will be holding a cabinet meeting in the Oval Office. (Watch the live stream here.) “Heavy rainfall was the only thing that I thought would stop someone in his tracks,” Brian McFadden, a meteorologist at Weather Underground, said.
TRUMP POWER STRUGGLE: Carl Icahn is leaving his role as Trump’s ethics adviser, a move that could have an impact on the president’s business interests. The president’s tax reform law gives Icahn, who recently sold half of his stake in his family’s chemical company, a seat on the federal biofuels board, a position that has come under fire for conflicts of interest. Icahn said he decided to resign after “a major disagreement” with the Trump administration.
LAID OFF: Carly Fiorina is out at Hewlett Packard Enterprise. The former presidential hopeful quit the chief executive role at the tech giant last week, less than a year after being appointed to the post. She’s facing pressure from activist investors to step down.
MODERN DAY MACHINE ROLLER COASTER: Amazon is preparing for the future with new, autonomous warehouse and delivery drones, a machine-learning overhaul of its customer service operation, and a new effort to join together the best parts of Walmart, Amazon, and Target, according to reports from Bloomberg.
Meanwhile, Tesla — still reeling from a fatal crash that occurred at one of its Fremont, Calif., car assembly plants — said Tuesday it intends to reduce its workforce by 3,500 people. And SAP executives said their software was attacked by hackers using one of the rare instances in the world in which a data breach has resulted in the attacker obtaining customer data.
HBO’S NEW STRATEGY: The pay cable network, which has been weathering a series of scandals, suspended founder and CEO Richard Plepler on Monday amid a corporate overhaul. Steven Bochco, who created the “Hill Street Blues” show, the “L.A. Law” series, and “NYPD Blue,” was named chairman and CEO of the company.
REVOLVING DOOR: Houston Rockets president Tad Brown announced he was stepping down from the role after less than a year in the job, ESPN.com reported Tuesday. Several other high-profile NBA officials have been making waves over the past month, including Toronto Raptors president Masai Ujiri.
SOCIAL: Monday’s tweets by David Gartenstein-Ross are here