NEW YORK, January 4, 2026, 17:19 ET — Market closed
JPMorgan Chase & Co shares ended Friday up $3.26, or about 1%, at $325.48, closing out the first U.S. trading session of 2026 with investors already looking to the bank’s quarterly results on Jan. 13. 1
With U.S. markets shut on Sunday, JPM holders head into Monday weighing whether the new year’s early optimism can hold through a dense run of economic data and the first wave of big-bank earnings.
The backdrop is a Federal Reserve that cut rates at its last three meetings of 2025, leaving investors split over how much further easing is coming — and what it means for lenders’ profitability. “The market is looking for direction,” Matthew Maley, chief market strategist at Miller Tabak, said, as fed funds futures — contracts that reflect traders’ policy-rate expectations — price little chance of a cut at the late-January meeting and close to a 50% probability in March. 2
JPM traded between $320.74 and $325.73 on Friday and closed above both its 50-day moving average near $311 and its 200-day moving average around $286, trend lines many chart-focused traders treat as potential support and resistance. The stock’s 52-week range runs from $202.16 to $330.86, according to Yahoo Finance. 3
Stocks, rates and the dollar moved in tandem on Friday: the Dow rose 0.66% and the S&P 500 edged up 0.19% as the 10-year Treasury yield climbed to 4.191%, Reuters reported. Higher yields can buoy bank shares by widening lending spreads if deposit costs don’t rise as quickly. 4
Bank peers outpaced JPM’s move on the day, with Wells Fargo up 2.15% and Bank of America gaining 1.73%, MarketWatch data showed. That relative performance can matter into earnings season, when investors often rotate quickly between lenders based on guidance and sentiment. 5
A small insider disclosure also hit the tape: a Form 4, the SEC filing that reports insider transactions, showed JPMorgan director Stephen B. Burke deferred a quarterly cash retainer into 174.5702 shares, recorded at $322.22 per share. Such awards are not open-market purchases, but filings can draw attention ahead of earnings. 6
The first major macro marker for the week is the Labor Department’s Employment Situation report for December, due at 8:30 a.m. ET on Jan. 9. For banks, jobs data can swing expectations around loan demand and, in a downturn, credit costs. 7
Inflation is next on deck: the consumer price index, a key gauge of price pressures, is scheduled for 8:30 a.m. ET on Jan. 13 — the same morning JPMorgan said it plans to release results at about 7:00 a.m. ET, with a conference call set for 8:30 a.m. ET. Investors will be parsing net interest income — the gap between what a bank earns on loans and pays on deposits — alongside management’s outlook for 2026. 8
But the setup carries risk. A sharp swing in yields after the data could reset assumptions about bank margins, while a weaker-than-expected jobs report could revive recession fears that pressure credit-sensitive lenders. The next clear catalysts for JPM shares are Monday’s reopening, the Jan. 9 jobs report, and the Jan. 13 pairing of the bank’s earnings with the inflation print.
