What is the name of SNL's recurring parody news segment?

Saturday Night Live's recurring parody news segment is called Weekend Update.

The segment debuted on SNL's first broadcast, which aired on October 11, 1975. Its format combines a news-desk presentation with jokes about real current events, political stories, celebrities, and unusual headlines. The anchor reads a setup as though delivering a serious newscast, then undercuts it with a comic twist.

Chevy Chase was the original anchor, and the segment was created with writers Herb Sargent and Al Franken. Its name was inspired partly by NBC's news magazine Weekend, giving the title a mock-serious broadcast feel. A common mix-up is calling it simply "Update," which was used informally at times but is not the segment's canonical title. Weekend Update became SNL's longest-running recurring sketch and helped influence later satirical news programs such as The Daily Show and The Colbert Report.