It's been a busy week, let's review.

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Snap grows up: Snap shares opened trading Thursday on the New York Stock Exchange at $24 per share, which is a 41% premium to the $17 per share IPO price. In early trading the stock is climbing even higher. So far, so good. The LA-based "camera company" raised $3.4 billion at around a $24 billion valuation. Now, they just have to keep an eye on their growing competitor, Snow.


Obamacare drama: Some conservative Republicans — like Rand Paul, Ted Cruz and co. — aren't happy with the Obamacare replacement plan so far. They worry it will end up a mere "Obamacare lite." Thursday, Paul led a hunt for the "secret repeal bill," which was being stored somewhere in the Capitol. Friday, the new draft leaked, but there were very few changes from the first draft. Conservatives aren't likely to be satisfied with this version either.


The good: Trump gave his address to Congress Tuesday night, and although some argue he's graded on a curve, he crushed it. We saw a different Trump. He stuck to his teleprompter, honored the Navy Seal who lost his life in Yemen, addressed racial hatred and left out a lot of his usual fear tactics.

The bad: But the good doesn't last in politics, and two days after Trump's speech, there was more Russia drama. Come to find out via intelligence info left behind by Obama's administration, Attorney General Jeff Sessions had met with the Russian Ambassador twice last year. The problem is, he swore he hadn't spoken with the Russians during the campaign at his confirmation hearings. Sessions recused himself from the Russia investigation, but some Dems don't think that's good enough — they want him to resign.

Go deeper

Updated 20 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 8 a.m. ET: 12,520,431 — Total deaths: 560,830 — Total recoveries — 6,900,718Map.
  2. U.S.: Total confirmed cases as of 8 a.m. ET: 3,184,722 — Total deaths: 134,830 — Total recoveries: 983,185 — Total tested: 38,856,341Map.
  3. Public health: The reality of the coronavirus bites.
  4. Trade: Trump says he's no longer considering phase-two trade deal with China because the pandemic damaged the two countries' relationship.
  5. 🎧 Podcast: Rural America has its own coronavirus problem.
2 hours ago - Health

We're losing the war on the coronavirus

Chart: Danielle Alberti/Axios

By any standard, no matter how you look at it, the U.S. is losing its war against the coronavirus.

Why it matters: The pandemic is not an abstraction, and it is not something that’s simmering in the background. It is an ongoing emergency ravaging nearly the entire country, with a loss of life equivalent to a Sept. 11 every three days — for four months and counting.

Trump commutes Roger Stone's sentence

Roger Stone arriving at his sentencing hearing on Feb. 20. Photo: Drew Angerer/Getty Images

President Trump on Friday evening commuted the sentence of his longtime associate Roger Stone, according to two senior administration officials. Stone in February was sentenced to 40 months in prison for crimes including obstruction, witness tampering and making false statements to Congress.

Why it matters: The controversial move brings an abrupt end to the possibility of Stone spending time behind bars. He had been scheduled to report to prison on July 14.