In 1973, John Dean, takes the oath from the Senate Watergate committee chairman, Sam Ervin. (Bettmann Archive via Getty Images)

John W. Dean, age 80, who was fired as White House counsel by President Nixon, writes for the N.Y. Times:

What's new: "There are several parallels between my testimony before Congress in 1973, about President Richard Nixon and his White House, and Michael Cohen’s testimony this week about President Trump and his business practices. ... [W]e both found ourselves speaking before Congress, in multiple open and closed venues, about criminal conduct of a sitting president."

Why it matters: "I was surprised by the number of people who surfaced to support my account. The same, I suspect, will happen for Michael Cohen. The Mafia’s code of omertà has no force in public service. I have heard no one other than Roger Stone say he will go to jail for Donald Trump."

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.