NEW YORK, January 24, 2026, 10:10 EST — The market has closed.
- Shares of JPMorgan Chase slipped 1.95% to close Friday at $297.72.
- Investors head into next week digesting rate signals alongside a Trump lawsuit and new developments at JPM.
- The next major event is the Federal Reserve’s policy decision slated for Jan. 28.
JPMorgan Chase & Co (JPM.N) shares fell $5.94, or 1.95%, to close at $297.72 on Friday. With Wall Street closed for the weekend, focus now turns to potential drivers for the next move in U.S. bank stocks.
For JPMorgan, rates remain the key short-term factor. Net interest income— the difference between what the bank earns on loans and pays on deposits—can shift sharply with changes in policy expectations. Traders are focused on whether the easing cycle that started last year has further room to unfold.
The stock’s shift happened during a volatile week for U.S. markets. On Friday, the Dow slipped 0.58%, the S&P 500 held steady, and the Nasdaq edged up 0.28%. Intel’s decline and ongoing geopolitical tensions kept a lid on broader gains. (Reuters)
JPMorgan faces a legal challenge as U.S. President Donald Trump filed a $5 billion lawsuit against the bank and CEO Jamie Dimon, accusing them of closing accounts due to political motives. JPMorgan, however, dismissed the claim, stating it believes “the suit has no merit.” (Reuters)
Governance made headlines as well. JPMorgan reported that Jamie Dimon’s 2025 compensation jumped 10.3% to $43 million. The board pointed to solid results and a “fortress balance sheet” in its filing. (Reuters)
JPMorgan has been active on the acquisition front. The bank finalized a deal to acquire UK pensions tech platform WealthOS, an internal memo obtained by Reuters reveals. Employees based in the UK and Sri Lanka will be integrated into JPMorgan. (Reuters)
The lender has been busy in the funding markets. According to an SEC filing, JPMorgan completed public offerings worth $6.0 billion in notes. This included $400 million in floating-rate notes due 2032, along with fixed-to-floating notes maturing in 2032 and 2037. (SEC)
JPMorgan also announced a “Company Update” scheduled for Feb. 23. The event will feature a firm overview and a Q&A with executive management. Presentation materials will be available before the session. (JPMorgan Chase)
Friday’s macro data kept the rate discussion in play. A survey revealed U.S. business activity held steady in January, but price pressures remained firm. S&P Global’s chief business economist Chris Williamson noted, “Increased costs, widely blamed on tariffs, are again cited as a key driver of higher prices for both goods and services in January.” (Reuters)
Banks are keeping a close eye on inflation because it influences how long policymakers hold rates steady—and how quickly deposit costs drop compared to loan yields. This dynamic affects margins, and not only at regional banks.
A cautionary note from a regional lender stood out. First Citizens BancShares projected its 2026 net interest income would fall short of expectations. CFO Craig Nix told analysts the drop stems from “a declining yield despite asset growth.” The KBW Nasdaq Regional Banking Index slipped roughly 3% in afternoon trading. (Reuters)
The calendar is packed. A Reuters poll of strategists and investors predicts the Fed will keep rates unchanged next week. Meanwhile, a busy earnings schedule could put valuations under pressure. PNC’s Yung-Yu Ma described recent market moves as “a short but steep roller-coaster ride.” (Reuters)
Bank stocks can turn on a dime if policymakers change their tone. A tougher line on inflation might boost yields, lifting rate-sensitive earnings forecasts. On the other hand, a more dovish approach could spark fresh concerns about margin squeeze and credit risks, particularly if growth slows down.
The Federal Reserve meeting set for Jan. 27-28 stands out as the next major event, with the policy statement due at 2:00 p.m. on Jan. 28, followed by Chair Jerome Powell’s press conference at 2:30 p.m. (Federal Reserve)
