Richard Drew / AP

Goldman Sachs is automating the work previously done by associates earning $326,000 a year, and Bloomberg reports that half of the tasks needed to prepare for an IPO can be done by algorithms as well.

According to a recent study by the bank, half of the 127 tasks done to prepare for initial public offerings of stock can be automated.

Why it matters: Investment banking is another job on a growing list of high-paid work that is being automated, along with legal services and medicine.

Why it may not (technically) kill jobs: Goldman swears that this technology won't reduce headcount, but will instead free bankers to focus on tasks like shaping marketing strategy and spending time with clients. But it also says that it has eliminated thousands of hours of human work, which will reduce the need to increase its headcount going forward.

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Uber to buy Postmates in $2.65 billion deal

Illustration: Sarah Grillo/Axios

Uber has agreed to acquire food delivery company Postmates for $2.65 billion in an all-stock deal, the companies announced Monday.

Why it matters: This is the latest merger for the food delivery space as the sector undergoes an ongoing market consolidation.

Analysts expect soaring stock market despite slashed earnings forecasts

Data: FactSet; Chart: Axios Visuals

Despite cutting expectations for companies' earnings by the most in history and revenue by the most since 2009, Wall Street analysts are getting increasingly bullish on the overall direction of the U.S. stock market.

What's happening: Equity analysts are expecting earnings in the second quarter to fall by 43.8% — the most since 2008's fourth quarter 69.1% decline.

Case growth outpacing testing in coronavirus hotspots

Data: The COVID Tracking Project. Note: Vermont and Hawaii were not included because they have fewer than 20 cases per day. Chart: Andrew Witherspoon/Axios

The United States' alarming rise in coronavirus cases isn't due to increased testing — particularly not where cases have grown fastest over the last month.

Why it matters: The U.S. doesn't yet know what it looks like when a pandemic rages on relatively unchecked after the health system has become overwhelmed. It may be about to find out.