Photo: Jabin Botsford / The Washington Post via Getty Images

"With passage of an enormous budget bill, the GOP-controlled Congress all but wrapped up its legislating for the year," per AP: "In two big ways, Republicans have done what they promised. They passed a long sought tax overhaul bill that slashed tax rates. They've rolled back regulations, in ways they claim are boosting the economy. In the Senate, they confirmed a justice to the Supreme Court."

The state of play: "But there are signs Americans wanted more: immigration reforms, gun control legislation, even an infrastructure plan that President Donald Trump promised voters. Tax cuts, for now, will have to do."

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BodyArmor takes aim at Gatorade's sports drink dominance

Illustration: Eniola Odetunde/Axios

BodyArmor is making noise in the sports drink market, announcing seven new athlete partnerships last week, including Christian McCaffrey, Sabrina Ionescu and Ronald Acuña Jr.

Why it matters: It wants to market itself as a worthy challenger to the throne that Gatorade has occupied for nearly six decades.

S&P 500's historic rebound leaves investors divided on future

Data: Money.net; Chart: Axios Visuals

The S&P 500 nearly closed at an all-time high on Wednesday and remains poised to go from peak to trough to peak in less than half a year.

By the numbers: Since hitting its low on March 23, the S&P has risen about 50%, with more than 40 of its members doubling, according to Bloomberg. The $12 trillion dollars of share value that vanished in late March has almost completely returned.

Newsrooms abandoned as pandemic drags on

Illustration: Sarah Grillo/Axios

Facing enormous financial pressure and uncertainty around reopenings, media companies are giving up on their years-long building leases for more permanent work-from-home structures. Others are letting employees work remotely for the foreseeable future.

Why it matters: Real estate is often the most expensive asset that media companies own. And for companies that don't own their space, it's often the biggest expense.