John Tucker

In New York, I'm John Tucker, Bloomberg Radio.

And Nathan, years of strain between Trump and Jamie Dimon have now culminated in a $5 billion lawsuit.

This was President Trump and Air Force One complaining JPMorgan Chase once debanked his real estate company.

I don't know.

It is a real issue.

This was Dimon last year responding to a question about debanking.

Well, Trump and Dimon have traded bars over the years, and the relationship further strained in Davos when Dimon pushed back against some of Trump's comments.

Investors unfazed by the suit.

Shares closed up half a percent.

And after the lawsuit was announced, the bank's board announced it paid Dimon $43 million last year.

In New York, I'm John Tucker, Bloomberg Radio.

Good morning, Karen.

The de-escalation intentions help the S&P 500 recover just about half its 2.1% drop from the day before and pull closer to its all-time high.

The Dow Jones Industrial Average jumped 588 points, 1.2%.

The Nasdaq climbed 1.2%.

The S&P 500 back in positive territory for the year.

Allison McCartney at UBS Financial Services says, you know what, the factors behind the bull market, they really haven't changed.

A UBS basket of stocks exposed to tariffs that closed up 2.7%.

President Trump has a history of making big threats that send financial markets sliding only to pull back later.

The pattern giving rise to the TACO acronym, suggesting Trump always chickens out if financial markets react strongly enough.