Data: International Data Corporation; Chart: Naema Ahmed/Axios

The market for wearables — from smartwatches to souped-up headphones — is surging. Last quarter, sales rose 96% from a year earlier, per IDC.

Why it matters: The market is shifting from a niche to the mainstream at a time where smartphone growth is slowing.

Apple led the way, thanks to the Apple Watch and AirPods. It sold 29.5 million wearables, up from 10 million in the same quarter a year earlier. Apple was followed by Xiaomi, Samsung, Huawei and Fitbit.

By category, smart earwear led the way, with shipments of 40.7 million devices, up from 11.9 million in the third quarter of last year.

What they're saying:

"The rise of smart assistants in the home and on the phone has led to an increased demand for wearables that have the ability to connect with these assistants. With multiple form factors and the inclusion of smart assistants, the wearables market is well on its way to becoming a mass market device category rather than one that primarily caters to health and fitness."
Jitesh Ubrani, IDC research manager.

Go deeper: Apple "research" app brings health data to the upscale masses

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Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 8 a.m. ET: 33,137,748 — Total deaths: 998,372 — Total recoveries: 22,952,164Map.
  2. U.S.: Total confirmed cases as of 8 a.m. ET: 7,116,456 — Total deaths: 204,762 — Total recoveries: 2,766,280 — Total tests: 101,298,794Map.
  3. States: 3 states set single-day coronavirus case records last week
  4. Health: The childless vaccine. The long-term pain of the mental health pandemic
  5. World: India the second country after U.S. to hit 6 million cases
Dion Rabouin, author of Markets
1 hour ago - Economy & Business

Big Tech's share of the S&P 500 reached record level in August

Expand chart
Reproduced from The Leuthold Group; Chart: Axios Visuals

The gap between the weighting of the five largest companies in the S&P 500 and the 300 smallest rose to the highest ever at the end of August, according to data from the Leuthold Group.

Why it matters: The concentration of wealth in a few massive U.S. tech companies has reached a scale significantly greater than it was before the dot-com bubble burst.

Fortune 100 companies commit $3.3 billion to fight racism and inequality

Data: Fortune 500, Axios analysis of company statements, get the data; Chart: Andrew Witherspoon, Naema Ahmed/Axios

Big businesses continue to push funding toward fighting inequality and racism, with the 100 largest U.S. companies' monetary commitments rising to $3.33 billion since the death of George Floyd at the hands of Minneapolis police earlier this year, according to an Axios analysis.

Why it matters: The continued pace of funding commitments shows that months after Floyd's death there remains pressure for the wealthiest corporations to put their money behind social issues and efforts.