Stock market

The big picture

Investors say ignore the coronavirus pandemic and buy stocks

Bullish fund managers are starting to lay down bets that it will be this way for a while.

Jul 9, 2020
Markets swell as the economy shrinks

The disconnect shows how the coronavirus has thrown all bets off.

Jul 3, 2020
A look at Robinhood traders' favorite stocks

The list is heavily filled by speculative bets like cruise operators and airlines.

Jun 18, 2020
The coronavirus-driven gold rush

Millennials and Gen Zers are opening online brokerage accounts at a record pace.

May 6, 2020

All Stock market stories

Mergers and acquisitions make a comeback

Illustration: Sarah Grillo/Axios

A slew of high-profile headlines led by Microsoft's expected acquisition of social media video app TikTok helped bring the Nasdaq to another record high on Monday.

Why it matters: The mergers-and-acquisitions market looks like it's bouncing back, joining the revived credit and equity markets as well as the market for new public companies through IPOs and special purpose acquisition companies (SPACs).

Electric vehicle startup Lordstown Motors going public via SPAC deal

Illustration: Eniola Odetunde/Axios

Lordstown Motors is about to become the latest electric vehicle startup to go public via purchase by a special purpose acquisition company (SPAC), the transaction structure that's fast becoming an alternative to IPOs.

The state of play: Lordstown, which plans to build a pickup truck at a former GM plant in Ohio, on Monday announced a merger agreement with DiamondPeak Holdings. The deal will provide $675 million in proceeds to help fund production of the Endurance, a model Lordstown hopes to launch in 2021 aimed largely at the commercial fleet market.

Virtual school is another setback for struggling retail industry

Illustration: Annelise Capossela/Axios

A virtual school year will likely push retailers even closer to the brink.

Why it matters: Back-to-school season is the second-biggest revenue generating period for the retail sector, after the holidays. But retailers say typical shopping sprees will be smaller with students learning at home — another setback for their industry, which has seen a slew of store closures and bankruptcy filings since the pandemic hit.

The pandemic's IPO boom might not last long

Illustration: Sarah Grillo/Axios

The IPO market has boomed during the pandemic era, both for real companies and shell companies, reflecting the broader decoupling of the equity economy and real economy.

Reality check: Things could soon change. And fast.

Jul 31, 2020 - Technology

Big Tech's take grows as economy tanks

Illustration: Sarah Grillo/Axios

While the rest of the U.S. economy was falling off a cliff, Big Tech saw its business soar.

The big picture: Thursday morning, government economists reported a 30% drop in GDP for the second quarter — the largest decline, by far, since the numbers have been reported.

Coronavirus pandemic pushes U.S. economy to worst-ever contraction

Data: Bureau of Economic Analysis; Chart: Axios Visuals

The U.S. economy shrank at an annualized 32.9% rate in the second quarter — the worst-ever contraction on records that date back to 1947, the government said on Thursday.

Why it matters: Widespread lockdowns to contain the spread of the coronavirus pandemic ravaged the economy in a way that's never been seen in modern times, and hope for a swift recovery has been dashed as cases have surged nationwide.

Stock market bulls could see "Superfecta"

Illustration: Sarah Grillo/Axios

Even if the real economy is in shambles, that doesn't mean the stock market can't rise. And U.S. equities look primed for a "Superfecta," Jim Paulsen, chief investment strategist at the Leuthold Group, writes in a note to clients.

What it means: Superfecta is a horse racing term in which a bettor correctly picks the first four finishers in exact order.

The 2020 Axios Harris Poll 100 reputation rankings

This survey is the result of a partnership between Axios and Harris Poll to gauge the reputation of the most visible brands in America, based on 20 years of Harris Poll research. From the Clorox Company to Juul Labs, here's how this year's class stacks up.

Methodology: The Harris Poll conducted four rounds of nominations totaling 8,392 respondents to determine the companies included in the ranking: Nov. 4-6, 2019; Nov. 12-14, 2019; Dec. 5-9, 2019; and June 11-15, 2020.

This year’s company ratings phase was conducted June 24-July 6, 2020 among 34,026 U.S. adults who are very or somewhat familiar with the company. Each company received an average of approximately 305 ratings per company.

The Axios Harris Poll 100 reputation rankings: The Corona companies

Data: Harris Poll COVID19 Tracker Wave 20; Table: Axios Visuals

Americans really love Clorox right now.

The big picture:: The coronavirus pandemic has ushered in a new wave of public approval for companies that have helped modernize and digitize the American household, according to a new Axios/Harris poll.

Fed chair warns path of the economy depends on path of coronavirus

Fed chair Jerome Powell at a virtual press conference in April. Photo: Federal Reserve via Getty Images

The Federal Reserve sees a slowing pace of economic growth after the coronavirus outbreak began to worsen in June, chairman Jerome Powell told reporters on Wednesday.

Why it matters: Powell's comments came as the Fed took its most forceful tone yet to emphasize that the fate of the economy is inextricably linked to the course of the virus — alluding to the fact there is no trade-off between the economy and the pandemic, and that economic recovery is all but impossible if the virus isn't contained.

More Stock market stories