Photo credit: Sotheby's

A signed pair of Air Jordan 1s worn by Michael Jordan during his 1984–85 rookie season sold for $560,000 in a Sotheby's auction on Sunday, breaking the all-time record for most expensive sneaker.

The big picture: The iconic shoes were sold the same day that the final two episodes of ESPN's "The Last Dance," which has consistently smashed live audience records for a documentary, are set to premiere.

  • It's not immediately known who purchased the shoes, per Action Network, but they were sold by shoe collector Jordy Geller, who decided it was a good time to offload them when he saw the renewed hysteria for Jordan memorabilia driven by the documentary.
  • "We are thrilled with the price. It just speaks to Michael Jordan’s incredible legacy and people recognizing him as the greatest athlete to ever play," Sotheby's Brahm Wachter told Action Network.

Go deeper: "The Last Dance" becomes must-watch quarantine TV

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U.S. economy adds 1.8 million jobs in July

Photo: Alexi Rosenfeld/Getty Images

The U.S. added 1.8 million jobs last month, while the unemployment rate fell to 10.2% from 11.1% in June, the Labor Department said on Friday.

Why it matters: The pace of job growth slowed significantly, suggesting a stalled recovery as coronavirus cases surged and states pulled back on reopening plans.

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The pandemic's impact on how sports are played

Damian Lillard shoots a free throw during one of the NBA's restart games. Photo: Mike Ehrmann/Getty Images

Sports are back, and on the surface, the actual gameplay looks fairly similar to when we last saw them.

But beneath that facade of normalcy lie some interesting trends spurred on by fan-less environments, long layoffs and condensed schedules.

A soaring Nasdaq is just one slice of the buy-anything market

Illustration: Aïda Amer/Axios

The Nasdaq closed above 11,000 for the first time on Thursday, ending the session higher for the seventh time in a row and eighth session in nine. It has gained nearly 10% since July 1.

Why it matters: It's not just tech stocks that have rallied recently. Just about every asset class has jumped in the third quarter, including many that typically have negative or inverse correlations to each other.