JPMorgan is nearing settlement of a suit filed by FHFA for mortgage related securities fraud. JPMorgan Chase & Co had reached a tentative agreement for the settlement of USD4 billion with the Federal Housing Finance Agency.

The seven year battle between federal prosecutors and Stephen A. Cohen's SAC Capital Advisors nearing a compromise agreement.

According to officials who sought anonymity, House Speaker John Boehner and other Republican leaders in the House would approve the Senate drafted deal on the debt ceiling and the budget.

Investors remained anxious even if US Treasury Secretary Jacob Lew announced last week in Congress that the department had the capacity to pay US Treasury bill holders.

A Wall Street Journal report said that Citigroup and State Street were already preparing for a possible debt default by the US government.

A snow storm in South Dakota killed thousands of cattle and caused tens of millions in losses. A sudden storm that came earlier than winter decimated thousands of cattle in South Dakota.

Even for just trying to get a deal done, US stocks rebounded with modest gains after a day of volatility.

Wal-Mart Stores Inc and Xerox Corp blamed each other for the glitch that caused food stamp recipients to go on an all-out shopping spree over the weekend.

Xerox Corp said the glitch that affected food stamp beneficiaries in 17 states was caused by a temporary shutdown of the system after a test was performed.

Senate Congressional leaders from both parties have progressed as to reaching a deal on the debt ceiling and the budget impasse.