Data: FactSet; Chart: Axios Visuals

While still trailing the S&P 500 and other major U.S. stock indexes by a solid margin year to date, the Russell 2000 index, which consists of many of the country's smallest public companies, has outpaced the broader market's rebound since March 23.

The state of play: The Russell 2000 rose 3.1% on Wednesday for its second straight day of gains over 3%. The increase in small cap stocks shows investors growing bullish on the overall U.S. economy.

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13 mins ago - Technology

U.S. pushes homegrown drone industry amid China battle

Illustration: Sarah Grillo/Axios

Alarmed at the prospect of relying on Chinese-made drones for public safety and monitoring critical industries, U.S. investors and the federal government are newly backing a domestic drone industry of hardware and software companies.

The big picture: The moves come as the industry continues to be led by DJI, a Chinese hardware maker — and as concerns grow both in China and the U.S. about reliance on the other country's technology.

Exclusive: The N.Y. Times doubles down on TV and film ambitions

Illustration: Aïda Amer/Axios

One of the country's oldest and most established media companies is starting to look more like a Hollywood studio than a traditional newspaper.

Driving the news: The New York Times has 10 scripted TV show projects in development, as well as 3 feature documentaries coming out this year and several other documentary projects in development and production, executives tell Axios.

Electric vehicle companies are reeling in cash without producing a car

Illustration: Sarah Grillo/Axios

These are heady days for electric vehicle companies, with a lack of actual car production becoming a popular norm.

Why it matters: The capital infusion is the latest in a busy stretch of deals and market moves that suggest private investors and equity markets see big potential in technologies that now represent a tiny slice of the global vehicle fleet.