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Retail sales figures blow past expectations

Retail sales jumped 5.3% last month — blowing past the 1.2% increase anticipated by economists, the Commerce Department said on Wednesday.

Why it matters: It’s thefirst month-over-month increase inshopping figures since September — with consumers getting a boost from the most recent pandemic relief package.


By the numbers: The $568 billion spent across retailers last month is 7.4% higher than this time last year, before the pandemic hit.

  • Retail sales initially surpassed pre-pandemic levels last year, as consumers opened their wallets after the shock of the coronavirus and early relief measures took effect.

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Unpacking the role of climate change in Hurricane Ida's explosive intensification

Data: EPA; Chart: Sara Wise/Axios

Hurricane Ida jumped from a 105-mph Category Two hurricane on Saturday to a high-end Category 4 monster by Sunday morning, in a feat enabled by climate change, seasonal timing and a dose of bad luck.

Why it matters: Understanding how Mother Nature's most powerful storms are changing is key to learning how to better protect coastal communities around the world — everywhere from the mega-cities of Southeast Asia to the small towns of the Louisiana Bayou.

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Buzzy media startup Puck emerges from stealth mode with big-name hires

Puck, a splashy new digital media company, is coming out of stealth mode, Axios has learned. The company debuted its landing page, puck.news, on Wednesday, and will officially launch its website in September.

Why it matters: The company has been quietly building a roster of top talent, but hadn't confirmed its branding or exact business plans up until now.

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New York City E-Race Grand Prix shows potential of electric vehicles

BMW's Maximilian Günther and Jaguar's Sam Bird captured the checkered flags at the thrilling New York City E-Prix racing doubleheader in Brooklyn over the weekend. But the real winners, race organizers hope, are electric vehicles themselves.

Why it matters: ABB FIA Formula E's all-electric street racing series, held in some of the world's most iconic cities, is meant to showcase EV technology in the very places electric cars are likely to have the biggest impact.

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The incredible S&P 500 has quietly delivered a fortune for investors

Give it up for the U.S. stock market. The S&P 500 has surged 14.4% from the beginning of the year through June 30, marking one of the strongest first halves of the year in history.

Why it matters: So far 2021 has been riddled with eye-popping moves in a handful of buzzy assets that grabbed everyone’s attention. And yet the stodgy U.S. stock market, propelled by booming earnings, has quietly delivered a fortune for investors.

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