DAILY UPDATE: JPMorgan Chase Lawsuit as DJIA Gains 350 Points and Stocks Climb for 2nd Day After S&P 500 Enters Correction Territory

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A group of current and former employees of JPMorgan Chase (NYSE:JPM) has filed a lawsuit alleging that the company, through its prescription drug plan run by CVS Health (NYSE:CVS), overpaid for medicines, resulting in higher expenses for its workers, according to Bloomberg News.

CITE: https://tinyurl.com/2h47urt5

The S&P 500 (^GSPC) gained about 0.6% to rebound for a second day in row, while the Dow Jones Industrial Average (^DJI) gained more than 350 points, or more than 0.8%. The tech-heavy NASDAQ Composite (^IXIC) rose 0.3% as “Magnificent 7” stocks, including Nvidia (NVDA) and Tesla (TSLA), faltered.

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Visualize: How private equity tangled banks in a web of debt, from the Financial Times.

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