Microsoft headquarters in Paris. Photo: Martin Bureau/AFP/Getty Images.

As of market close on Friday, Microsoft is the most valuable U.S. public company with a market valuation of $851.2 billion, per CNBC.

The backdrop: Microsoft had been closing in on Apple throughout the week during intraday trading, but as of Friday's close, Apple's market valuation lagged behind at $847.4 billion. This year alone, Microsoft surged past Amazon and Google parent Alphabet.

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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.

26 mins ago - Sports

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.