The art market is thriving in Texas, with an increasing number of transactions over $1 million, per a report by Bank of America and ArtTactic.

Why it matters: The state's art boom is a byproduct of its growing population and more ultra-wealthy families moving to the state, Bank of America Dallas president Jennifer Chandler tells Axios.

• Texas' arts and culture industry generated almost $460 million in sales tax revenue in 2023, per the Texas Cultural Trust.

Follow the money: In 2015, 53% of all U.S. art purchases over $1 million were from buyers in the Northeast. That dropped to 32% by 2025, shifting to buyers in the Southeast and Central South.

• Around 46% of the country's overall art spending last year came from buyers in California, Florida, New York and Texas, per the Bank of America report.
• The four states also accounted for around 80% of the country's art purchases over $1 million.

The intrigue: Texas wasn't a top 10 state in 2015 for art transactions over $1 million. Now, the state is fourth, with a 6% market share for the transaction type, Bank of America says.

State of play: Art is a "heartstring purchase" that's attracting a new generation of buyers, including tech founders diversifying their portfolio and young people whose families have collected art for generations, Chandler tells Axios.

• Sales of impressionist and modern art increased last year, along with art made by women.

Zoom in: Dallas and Houston's growing art communities are adding to the allure of collecting art, per the report.

• The Dallas Art Fair, which took place over the weekend, included 90 dealers and galleries from 18 countries, and introduced a $20,000 art prize.
• Dallas-based Heritage Auctions, one of the world's largest auction houses, posted total sales of $2.2 billion last year, the fifth consecutive year of record sales.
• And a copper hippopotamus from a Houston-based collector's estate sold for $31.4 million last year, becoming the most expensive design work ever sold at auction.

Small-business confidence in Texas is slipping slightly, in line with a broader national slowdown.

Why it matters: Small businesses play a key role in the daily lives of North Texans.

The big picture: The U.S. Chamber's latest Small Business Index, which captured survey data from Feb. 25-March 11, fell to 67 nationally.

• The South, including Texas, landed at 67.1, also slightly down from 67.5 last quarter.

Zoom in: Many North Texas businesses are feeling the squeeze from rising costs and changing margins.

• Dallas' Kate Weiser Chocolate, known for its artisan sweets, announced last week that it will close its storefronts due to the "heavy financial lift to continue operating."

Zoom out: 53% of owners nationally cite inflation as their top issue. 37% plan to invest in the year ahead, down from 44%.

Stunning stat: Just 28% say the economy is in good health, down 10 points.

What's next: Lingering uncertainty could weigh on hiring and investment decisions.

🚨 A nationally-recognized Paralympic cyclist was killed in a crash in McKinney last week. (FOX4)

📺 Irving-based Nexstar Media Group can't merge with Tegna until an antitrust lawsuit from eight attorneys general and DirecTV is resolved, a federal judge ruled Friday. (WFAA)

🏀 Cooper Flagg of the Dallas Mavericks is a finalist for rookie of the year. (NBC5)

⚾️ Brandon Nimmo of the Texas Rangers recorded his 1,000th career hit on Saturday. He spent the majority of his 15-year MLB career with the New York Mets. (DMN)

The Dallas Stars had a cold start to the first round of the Stanley Cup Playoffs on Saturday. They lost to the Minnesota Wild, 6-1.

The big picture: The Stars have home-ice advantage in the series, with the opportunity to host four games in Dallas.

State of play: Power plays helped the Wild extend their lead over Dallas during Game 1.

• Jason Robertson scored the Stars' sole goal during the second period.

What they're saying: "Playoffs are like this. Sometimes you lose a game, you can feel like you're done. But that's the mentality you need to have — you've got to reset and learn from mistakes," Stars forward Mikko Rantanen said after the game.

What's next: Game 2 is 6:30pm at American Airlines Center.

• Roope Hintz, who has been out since a lower-body injury on March 6, is expected to return in time for Game 3 on Wednesday, per ESPN.