Illustration: Sarah Grillo/Axios

Watch for Trump's former campaign manager at the House Judiciary Committee on Tuesday — and not just because of the prospect of a fiery exchange with Chairman Jerry Nadler.

Why it matters: If Corey Lewandowski goes forward with a run for the Senate in his home state of New Hampshire — which he's seriously considering, a spokesperson says — he'd be the first in Trump's inner circle to test those coattails.

What we're hearing: “Corey will use [the hearing] as part of the campaign. He will be confrontational to the Democrats. He will be totally loyal to Trump. And he will be playing to the right wing of the party who need to unite behind him in a primary," Thomas Rath, former attorney general of New Hampshire and adviser to several GOP presidential candidates, tells Axios.

Yes, but: A former Trump administration official tells Axios that "the ultimate risk with Corey running is that the negative coverage he receives in New Hampshire could drag Trump down."

  • Lewandowski currently leads the hypothetical GOP Senate primary field, according to a recent Emerson poll. The same poll shows that he trails Democratic incumbent Sen. Jeanne Shaheen by 10 percentage points.

Sources involved in members' preparations expect the hearing to be full of theatrics.

  • The Judiciary Committee plans to press for more information about possible obstruction of justice by Trump outlined in Robert Mueller’s report, including his asking Lewandowski to press then-Attorney General Jeff Sessions to end the Russia investigation. 
  • "Corey says he is willing to talk about the campaign and the Mueller stuff, but his conversations with POTUS are off-limits," a GOP committee aide said. "He’s obviously not going to pull a Michael Cohen and try to hurt the administration. I think he thinks he can fight back against Nadler."
  • "We don’t buy into the bullsh*t privileges that he's asserting. If you didn’t work for the president, you don’t have that privilege," Rep. Eric Swalwell (D-Calif.), a member of the Judiciary Committee, tells Axios.

Go deeper

BodyArmor takes aim at Gatorade's sports drink dominance

Illustration: Eniola Odetunde/Axios

BodyArmor is making noise in the sports drink market, announcing seven new athlete partnerships last week, including Christian McCaffrey, Sabrina Ionescu and Ronald Acuña Jr.

Why it matters: It wants to market itself as a worthy challenger to the throne that Gatorade has occupied for nearly six decades.

S&P 500's historic rebound leaves investors divided on future

Data: Money.net; Chart: Axios Visuals

The S&P 500 nearly closed at an all-time high on Wednesday and remains poised to go from peak to trough to peak in less than half a year.

By the numbers: Since hitting its low on March 23, the S&P has risen about 50%, with more than 40 of its members doubling, according to Bloomberg. The $12 trillion dollars of share value that vanished in late March has almost completely returned.

Newsrooms abandoned as pandemic drags on

Illustration: Sarah Grillo/Axios

Facing enormous financial pressure and uncertainty around reopenings, media companies are giving up on their years-long building leases for more permanent work-from-home structures. Others are letting employees work remotely for the foreseeable future.

Why it matters: Real estate is often the most expensive asset that media companies own. And for companies that don't own their space, it's often the biggest expense.