US Economy Starts Pivotal Week Strong: Live Stock Market Updates

Get the latest live updates on the US economy as it kicks off a crucial week with a positive start in the stock market. Stay informed with live stock market updates and stay ahead of the market trends.

Jun 12, 2023 - 10:13
Jun 12, 2023 - 10:16
US Economy Starts Pivotal Week Strong: Live Stock Market Updates
US Economy Starts Pivotal Week Strong: Live Stock Market Updates

Stocks have opened on a positive note at the beginning of a significant week for the US economy. This week's focus will be on key economic data, including reports on inflation and consumer spending, along with the much-anticipated Federal Reserve decision scheduled for Wednesday.

As trading commenced on Monday, the S&P 500 index (^GSPC) showed a gain of approximately 0.3%. Similarly, the Dow Jones Industrial Average (^DJI) witnessed a rise of around 0.2%, while the Nasdaq Composite index (^IXIC) experienced a gain of 0.4%.

The market's upward trajectory at the start of the week follows last week's achievement, where the S&P 500 entered a bull market and closed at its highest level since August 2022. Additionally, the Nasdaq sustained its winning streak for the seventh consecutive week.

Stay here for live updates and trends...

Key Moments

  • US stocks open higher, setting a positive tone for the week
  • Investors eagerly await key economic data on inflation and consumer spending
  • The Federal Reserve decision looms, adding to market anticipation

  • 12 Jun 2023 10:19 AM
    JPMorgan Resolves Lawsuit with Victims of Jeffrey Epstein

    In a significant development, JPMorgan (JPM) announced on Monday a preliminary settlement in a legal claim filed by one of the victims of Jeffrey Epstein. While the exact details of the settlement were not disclosed and are subject to judicial approval, the resolution marks a crucial step forward in addressing the allegations.


    According to reports by Yahoo Finance correspondents Alexis Keenan and David Hollerith, one of the lawsuits accused the nation's largest bank of disregarding warnings about its long-standing client, Epstein, and enabling his alleged involvement in sex trafficking. However, it is important to note that this settlement does not entirely absolve JPMorgan from other legal challenges arising from its connection to Epstein. 


    The bank still faces a lawsuit from the government of the US Virgin Islands.

    A spokesperson from JPMorgan emphasized, "We now fully comprehend the abhorrent nature of Epstein's actions, and we believe that this settlement is the most appropriate course of action for all parties involved, particularly the survivors who have endured unimaginable abuse inflicted by Epstein." The spokesperson acknowledged that any association with Epstein was a regrettable mistake and stated that the bank would have terminated its relationship if there had been any indication of his involvement in heinous crimes through their services.


    This settlement follows the recent deposition of JPMorgan CEO Jamie Dimon in the case, during which he confirmed that he had never personally met or engaged in any communication with Epstein.

    As news of the settlement broke, the stock market response to JPMorgan's shares remained relatively stable on Monday morning, showing little change.

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  • 12 Jun 2023 10:21 AM
    Nasdaq Announces $10.5 Billion Acquisition of Adenza

    Nasdaq (NDAQ) has made a groundbreaking announcement on Monday, revealing its intentions to acquire compliance software company Adenza from private equity firm Thoma Bravo in a substantial deal valued at $10.5 billion. This strategic move indicates a notable resurgence in the M&A market.

    Following this news, Nasdaq's shares encountered a downturn of over 7% during pre-market trading, reflecting the market's initial response.


    Adenza emerged as a result of Thoma Bravo's acquisition of Calypso in 2021, for a reported amount of $3.75 billion. Subsequently, Calypso merged with the existing portfolio company of Thoma Bravo, AxiomSL, resulting in the formation of Adenza.


    According to Nasdaq's press release concerning the acquisition, Adenza is projected to deliver $590 million in revenue for the year 2023, with an impressive annual recurring revenue growth of 18% and robust adjusted EBITDA margins of 58%.

    The significance of this Nasdaq-Adenza deal is underscored by the fact that, as per data from S&P Global Market Intelligence, only three M&A deals exceeding $10 billion in value were announced in the first quarter of this year.

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