New York, Jan 22, 2026, 3:19 PM ET — Regular session
- Shares of Capital One climbed roughly 2% in afternoon trading, beating the modest rise seen across financial stocks
- Investors are taking their positions ahead of Capital One’s earnings report, expected after the close.
- Washington’s fresh effort to cap credit-card rates continues to weigh on lenders’ forecasts
Shares of Capital One Financial Corporation (COF) rose Thursday, as investors positioned themselves ahead of the consumer lender’s quarterly earnings report set to drop after the market closed. The stock gained 1.9%, reaching $235.50 in afternoon trading.
The timing is crucial as the earnings report arrives amid a hectic period for card issuers. Traders are digging through the data—spending patterns, funding expenses, credit losses—while filtering out the noise coming from Washington headlines.
Capital One occupies a key spot in that mix. Much of its revenue comes from credit cards, where interest income can boost profits sharply when customers pay on time—but losses mount just as fast if delinquencies climb.
The stock climbed as Wall Street advanced, with the S&P 500 tracking ETF gaining roughly 0.5% and the financial sector ETF rising 0.6%. Most big banks edged higher, and card-linked stocks posted gains as well. 1
Policy risks remain on the radar. Bank of America and Citigroup are considering rolling out new credit cards with a 10% interest rate, Reuters reported, as they react to President Donald Trump’s proposal for a one-year cap on credit-card rates. 2
JPMorgan Chase CEO Jamie Dimon slammed the proposal as an “economic disaster,” cautioning it would cut off backup credit for countless households. Brian Jacobsen, chief economic strategist at Annex Wealth Management, added that the current pressure on Congress means a 10% cap is “highly unlikely” to be implemented anytime soon. 3
Credit-card APR — the annual percentage rate on card balances — tends to run high since these loans are unsecured and default rates spike during economic downturns. A broad cap might push lenders to cut credit limits, overhaul rewards programs, or nudge customers toward simpler cards with fewer benefits.
Capital One’s stock has seen some back-and-forth action this week. It dropped 4.4% on Tuesday but clawed back 1% on Wednesday, yet remains under the highs it hit earlier this month. 4
Yet, what happens next might depend as much on politics as on actual results. Should the rate-cap effort pick up steam in Congress, or if consumer credit weakens more quickly than anticipated, investors could call for a bigger risk premium, even if the quarter appears solid at first glance.
Capital One is set to report its fourth-quarter 2025 earnings around 4:05 p.m. ET, with a conference call kicking off at 5:00 p.m. ET. Investors will be tuning in closely for shifts in commentary on credit losses and insights from management on how discussions about rate caps might impact card pricing and growth. 5
