Donald Trump has followed through on his threat to sue Rupert Murdoch and his media companies over the Wall Street Journal‘s report on a bawdy letter in his name that was included in an album given to Jeffrey Epstein for his 50th birthday in 2003.

The moves come after Wall Street saw a winning session, with the S&P 500 posting fresh intraday and closing records.

Dow Jones, owner of the Wall Street Journal, announced it will vigorously defend against Donald Trump's defamation lawsuit related to an article linking him to Jeffrey Epstein.

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The Dow Jones Industrial Average remained subdued while the S&P 500 index managed to stay afloat. The Dow was down marginally by 0.07 per cent and the S&P 500 was up 0.59 per cent. The NASDAQ Composite index on the other hand outperformed last week by rising 1.

Dow Jones pulled back as 3M declined by 4.2%. The stock found itself under pressure despite the strong earnings report. Traders decided to use the report as an opportunity to take profits near yearly highs.

The DJIA is in positive territory thus far in 2025. The Dow Jones Industrial Average (DJINDICES: ^DJI) is up nearly 5% so far this year, with many of its best performers rising in value by 20% to 30%.

U.S. stocks were higher in afternoon trade, with the blue-chip Dow Jones Industrial Average up about 120 points, as investors cheered relatively robust economic data emerging in the weeks before President Trump's next tariff deadline.

Peter Berezin of BCA Research offers the lowest S&P 500 year-end target at 5,300, with a cautious yet data-driven approach.