Photo: Pete Marovich For The Washington Post via Getty Image

Virginia Republican Corey A. Stewart, who lost his senate bid to Tim Kaine (D-Va.) in 2018, will head a conservative super PAC that aims to raise money for President Trump's reelection campaign, the Washington Post reports.

Details: The Keeping America Great PAC will also raise money for state and federal candidates who support Trump as the 2020 election looms closer. The PAC raised $130,000 last year, which was used to fund attack ads against Rep. Abigail Spanberger (D-Va.). Stewart briefly led Trump's 2016 presidential campaign in Virginia and faced controversy over his 2018 senate campaign's ties to right-wing extremists, per the Post.

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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.

2 hours ago - Technology

Dark clouds envelop feel-good Pinterest

Illustration: Eniola Odetunde/Axios

Pinterest set out to be a bright spot in cutthroat Silicon Valley, but now stands to see its reputation forever tarnished by allegations of mistreatment and a toxic culture by women who held senior roles at the company.

Why it matters: Even a company known for progressive policy decisions and successfully combatting hateful and otherwise problematic content isn't immune to the systemic problems that have plagued many tech companies.