Saturday Night Live lampooned President Donald Trump's perceived obsession with the Nobel Peace Prize and addressed the recent U.S. military intervention in Venezuela during its cold open on the first show of 2026. The sketch also satirized South Dakota Governor Kristi Noem's controversial reaction to the Immigration and Customs Enforcement (ICE) shooting incident in Minneapolis.

The show's opening segment featured a mock Trump news conference and cabinet meeting, capitalizing on a wealth of political developments. Colin Jost portrayed Secretary of Defense Pete Hegseth in an exaggerated manner, depicting him as unhinged. Jeremy Culhane played the role of Vice President.

The satirical portrayal of political figures on SNL often impacts public perception and can indirectly influence market sentiment, particularly concerning companies associated with government policies or actions. While the immediate financial impact of such sketches is difficult to quantify, studies have shown that negative portrayals of public figures can lead to decreased public trust and, in some cases, affect investor confidence in related sectors. The show's ability to generate viral content through social media further amplifies its reach and potential influence.

SNL, produced by Broadway Video, has a long history of political satire, often drawing criticism and praise in equal measure. The show's sketches are written and performed by a rotating cast of comedians and guest hosts, and the program airs weekly on NBC. The network, a subsidiary of NBCUniversal, benefits from the show's consistent viewership and advertising revenue. The show's continued focus on political events suggests that it will remain a platform for commentary on current affairs, potentially impacting public discourse and, to a lesser extent, market perceptions.