Photo: Oliver Contreras-Pool/Getty Images

President Trump has stymied a plan to push prison and sentencing reform before the midterms, according to an administration source with direct knowledge. In a White House meeting on Thursday afternoon, Trump decided that the compromise package that Jared Kushner, Sen. Chuck Grassley and others have been advocating for is too politically difficult to endorse before the elections, the source told Axios.

Why it matters: Without the president backing the bill, which might have reduced some mandatory minimum sentences for certain drug crimes and sent around 4,000 prisoners home, it has zero chance of getting a vote before the midterms. Senate leadership was already reluctant to bring it up for a vote. The collapse of the bill is a win for opponents of the package, including law-and-order hardliners Sen. Tom Cotton and Attorney General Jeff Sessions.

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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.