Illustration: Aïda Amer/Axios

Millennials, now firmly in their adult years, have been blamed for “killing” everything from mayonnaise to fabric softener to department stores.

But a closer look at the data shows the emphasis on high net-worth millennials is skewing our perspective.

Why it matters: Wealthy millennials' exaggerated, idiosyncratic shopping habits fuel trends like meal-kits and grocery delivery. But in reality, these consumers represent a relatively small, yet powerful, piece of the market.

  • According to a recent Deloitte study, high-income millennials were 24% less likely than other shoppers to shop in a store, but low and middle-income millennials behave like consumers of any other generation.

Special report: The future of retail

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Dion Rabouin, author of Markets
42 mins ago - Economy & Business

Investors are betting the future is priced in euros

Illustration: Aïda Amer/Axios

It's the euro's time now — at least that's how investors have been positioning recently.

What's happening: Speculators have raised their bets to the highest in nine years that the dollar will fall and increased bullish bets that the euro will rise to the highest level on record, Reuters reported citing data from the CFTC.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Annelise Capossela/Axios

  1. Global: Total confirmed cases as of 7 a.m. ET: 20,317,087 — Total deaths: 742,035— Total recoveries: 12,602,544Map.
  2. U.S.: Total confirmed cases as of 7 a.m. ET: 5,141,879 — Total deaths: 164,545 — Total recoveries: 1,714,960 — Total tests: 63,252,257Map.
  3. States: Georgia reports 137 coronavirus deaths, setting new daily record Florida reports another daily record for deaths.
  4. Health care: Trump administration buys 100 million doses of Moderna's coronavirus vaccine.
  5. Business: Moderna reveals it may not hold patent rights for vaccine.
  6. Sports: Big Ten and Pac 12 scrap fall footballMLB salaries at 37%
  7. World: Lebanon reported record new cases as UN warned blast may drive spike — Fauci "seriously" doubts Russia's coronavirus vaccine is safe
Mike Allen, author of AM
2 hours ago - Politics & Policy

3 keys to Joe Biden picking Kamala Harris

Photo: Jeff Kowalsky/AFP via Getty Images

Three quick points about Joe Biden's historic selection of Sen. Kamala (pronounced COMMA-luh) Harris of California as his running mate — and clues they give us to how Biden would govern:

  1. She was always at the top of his list. As I look back through my text threads with top Dems over the past five months, she was always assumed to be the most likely pick.