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Target Store exterior. Photo: John Greim/LightRocket via Getty Images

Target is the latest retailer to report strong quarterly results — sales growth at stores open for at least one year increased the most in 13 years — thanks to the booming economy.

"There's no doubt that, like others, we're currently benefiting from a very strong consumer environment — perhaps the strongest I've seen in my career."
— Target CEO Brian Cornell on the analyst call

The big picture: Walmart, Home Depot, Kohl's, Macy's and Nordstrom have also recently posted strong results thanks to a hot job market that is leading to higher wages and consumer confidence approaching an 18-year high.

Go deeper

Updated 6 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Politics: Fauci says he accepted Biden's offer to be chief medical adviser "on the spot" — Biden plans to ask public to wear masks for first 100 days in office.
  2. Health: Coronavirus death rates rising across the country — Study: Increased COVID-19 testing can reduce transmission — Hospitalizations top 100,000 for the first time.
  3. Economy: U.S. economy adds 245,000 jobs in November as recovery slows — America's hidden depression: K-shaped recovery threatens Biden administration.
  4. Vaccine: What COVID-19 vaccine trials still need to do — Obama, Bush and Clinton willing to take vaccine in public —WSJ: Pfizer expects to ship half as many COVID vaccines as planned in 2020.
1 hour ago - Economy & Business

Clean trucks are paving the road to the electric vehicle era

Illustration: Eniola Odetunde/Axios

The electric vehicle revolution is underway, led by the un-sexiest of plug-in models: the commercial truck.

Why it matters: Growing demand for cleaner trucks means 2021 will be a pivotal year for electric vehicles — just not the kind you might have expected.

Dion Rabouin, author of Markets
3 hours ago - Economy & Business

The fragile recovery

Data: Department of Labor; Chart: Axios Visuals

The number of people receiving unemployment benefits is falling but remains remarkably high three weeks before pandemic assistance programs are set to expire. More than 1 million people a week are still filing for initial jobless claims, including nearly 300,000 applying for pandemic assistance.

By the numbers: As of Nov. 14, 20.2 million Americans were receiving unemployment benefits of some kind, including more than 13.4 million on the Pandemic Unemployment Assistance (PUA) and Pandemic Emergency Unemployment Compensation (PEUC) programs that were created as part of the CARES Act and end on Dec. 26.

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