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Trump asks how SNL can air "without retribution"

President Trump responded to a sketch from NBC's "Saturday Night Live" that mocked his national emergency declaration at the border, asking how networks can air "hit jobs without retribution" and labeling it "the real Collusion" in a Sunday morning tweet:

"Nothing funny about tired Saturday Night Live on Fake News NBC! Question is, how do the Networks get away with these total Republican hit jobs without retribution? Likewise for many other shows? Very unfair and should be looked into. This is the real Collusion!"

The big picture: Throughout his presidency, Trump has repeatedly attacked late-night shows and comedians — including "SNL" — for their adversarial takes on his administration.

Go deeper

Courtenay Brown
9 mins ago - Economy & Business

Trading platforms curb trading on high-flying Reddit stocks

Major trading platforms including Robinhood, TDAmeritrade and Interactive Brokers are restricting — or cutting off entirely — trading on high-flying stocks like GameStop and AMC Entertainment.

Why it matters: It limits access to the traders that have contributed to the wild Reddit-driven activity of the past few days — a phenomenon that has gripped Wall Street and the country.

Go deeper (1 min. read)Arrow
Courtenay Brown
Updated 51 mins ago - Economy & Business

2020 was the economy's worst year since 1946

Source: FRED; Billions of chained 2012 dollars; Chart: Axios Visuals

One of the last major economic report cards of the Trump era lends perspective to the historic damage caused by the pandemic, which continued to weigh on growth in the final quarter of 2020.

By the numbers: The U.S. economy grew at a 4% annualized pace in the fourth quarter, a sharp slowdown in growth compared to the prior quarter. For the full year, the economy shrank by 3.5% — the first annual contraction since the financial crisis and the worst decline since 1946.

Go deeper (1 min. read)Arrow
Dion Rabouin, author of Markets
3 hours ago - Economy & Business

How GameStop exposed the market

Illustration: Eniola Odetunde/Axios

Retail traders have found a cheat code for the stock market, and barring some major action from regulatory authorities or a massive turn in their favored companies, they're going to keep using it to score "tendies" and turn Wall Street on its head.

What's happening: The share prices of companies like GameStop are rocketing higher, based largely on the social media organizing of a 3-million strong group of Redditors who are eagerly piling into companies that big hedge funds are short selling, or betting will fall in price.

Go deeper (2 min. read)Arrow