Rebecca Zisser / Axios

Gun stocks often rise on the heels of well-publicized gun violence, but it isn't happening after yesterday's horrific events in Sutherland Springs, Texas. Shares of such companies as Sturm Ruger, American Outdoor Brands and Vista Outdoor all are down in Monday's mid-day trading.

Why it matters: Conventional wisdom was that such massacres would prompt gun aficionados to buy lots of new weapons and accessories, fearful of new federal firearms regulations. But Congress' failure to enact new rules after hundreds of mass shootings over the past several years – including Las Vegas, Sandy Hook, the Pulse Nightclub and San Bernadino – may have convinced traders that the old cause/effect is no longer operative.

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Dan Primack, author of Pro Rata
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The SPAC boom is starting to crack

Illustration: Aïda Amer/Axios

The SPAC boom is beginning to show its first cracks, as several private equity-sponsored efforts have needed to downsize.

Driving the news: Cerberus yesterday shrunk the anticipated IPO for its telecom-focused SPAC from $400 million to $300 million.

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Illustration: Aïda Amer/Axios

The Justice Department will unveil its long-awaited antitrust lawsuit against Google today, according to reports in the Wall Street Journal and other outlets, charging the company with abusing a monopoly position in search and search advertising.

Details: Justice Department lawyers are expected to outline their monopoly case against the search giant in a call with reporters Tuesday morning.

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The U.S.-China climate rupture

Illustration: Sarah Grillo/Axios

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Why it matters: China's unusual statement Monday widens the rupture between the world's largest carbon emitters as global climate efforts are flagging and the pandemic's effect on emissions is too small to be consequential in the long term.

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