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Data: FactSet; Chart: Axios Visuals

One company bucking the woeful news from the world of retail is Best Buy, which saw its stock price hit a record high Monday.

What's happening: Last week Best Buy announced that sales have increased from last year despite the coronavirus pandemic. It also has promised permanent wage increases for employees.

  • The retail chain said that sales in the second quarter rose 2.5% from the same period in 2019, and have risen 15% since stores began reopening June 15, per MarketWatch.

Between the lines: Best Buy managed to hang onto its sales numbers through appointment-only visits that held visit rates at around 40% of normal levels in the early stages of the recovery, notes foot traffic analysis firm Placer.ai.

  • Placer.ai analysts argue "the best might still be on the horizon with a critical back-to-school season dovetailing with a rise in the value and importance of the home office."
  • "Even the potential for college students to be working remotely could drive an increase in the need for at-home technologies."

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Dion Rabouin, author of Markets
Aug 31, 2020 - Economy & Business

Durable goods orders may have peaked in July

Adapted from FRED and Investing.com; Chart: Axios Visuals

Manufactured durable goods orders rose 11.2% in July, far outpacing economists' expectations, and jumping for the third straight month. July's unexpected increase followed a 7.7% gain for durable goods in June.

What happened: The boom was largely the result of vehicle purchases, as orders for new cars and trucks jumped 22% after a nearly 24% gain the previous month.

Updated 3 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 3 a.m. ET: 30,782,337 — Total deaths: 957,037— Total recoveries: 21,032,539Map.
  2. U.S.: Total confirmed cases as of 3 a.m. ET: 6,764,962 — Total deaths: 199,258 — Total recoveries: 2,577,446 — Total tests: 94,211,463Map.
  3. Politics: In reversal, CDC again recommends coronavirus testing for asymptomatic people.
  4. Health: The dwindling chances of eliminating COVID-19.
  5. World: Guatemalan president tests positive for COVID-19 — The countries painting their pandemic recoveries green.

The positions of key GOP senators on replacing Ruth Bader Ginsburg

Senate Majority Leader Mitch McConnell talks to reporters on Capitol Hill last Thursday. Photo: Chip Somodevilla/Getty Images

With President Trump planning to nominate his third Supreme Court justice nominee by next week, key Republican senators are indicating their stance on replacing the late Justice Ruth Bader Ginsburg just over six weeks out from Election Day.

The big picture: Senate Majority Leader Mitch McConnell (Ky.) has vowed that "Trump’s nominee will receive a vote on the floor of the United States Senate." But Sen. Lisa Murkowski (Alaska) told Alaska Public Media, "I would not vote to confirm a Supreme Court nominee. We are 50 some days away from an election."