New York, Feb 10, 2026, 10:52 EST — Regular session
- JPMorgan shares up 1.1% near $326 in morning trade
- Executives at UBS conference flagged strong M&A and IPO pipelines into 2026
- Traders eye delayed U.S. jobs data Feb 11 and CPI Feb 13 as the next macro test
JPMorgan Chase & Co shares rose on Tuesday, lifting the biggest U.S. bank as investors weighed fresh dealmaking commentary and a busy week of U.S. economic data. The stock was up 1.1% at $325.68 after trading between $321.00 and $326.07.
The move matters because JPMorgan is a bellwether for large lenders, and bank stocks have been swinging with expectations for fee growth and the path of interest rates. Investment banking fees are the revenue banks earn from advising on mergers and underwriting stock and bond sales.
This week brings both: bank bosses are on the circuit at conferences, while macro data could reset rate bets in a hurry. A shift in rate expectations can move bank shares quickly because it feeds into lending margins and credit worries.
At the UBS financial services conference in Florida, JPMorgan’s Troy Rohrbaugh said deal pipelines into 2026 “look excellent” and suggested it could be “one of the better years” for mergers and acquisitions. He also pointed to a “very robust” IPO pipeline, even without the SPAC boom — special purpose acquisition companies are shell firms that raise money in an IPO to buy a private company. Goldman Sachs CEO David Solomon told the same conference sponsor-led activity “is accelerating” as private equity firms face pressure to return cash before raising new funds. 1
Big-bank shares broadly tracked higher alongside JPMorgan. Goldman Sachs gained 1.6%, Bank of America added 0.4%, Citigroup rose 0.3%, Wells Fargo climbed 0.3% and Morgan Stanley was up 0.6%.
The wider tape was less settled after U.S. retail sales came in flat for December, a surprise that pushed some investors to rethink the growth tone heading into the new year. “It’s really the retail sales data that’s come out below expectations … that’s driving some of the weakness,” said Charlie Ripley, vice president of portfolio management at Allianz Investment Management. The Dow was up 0.4% in early trade while the S&P 500 and Nasdaq edged lower. 2
For JPMorgan holders, the next company-specific waypoint is Feb. 23, when the bank plans to host a company update in New York with presentations and a Q&A with executives. 3
But there is an obvious snag: the macro calendar is messy and the data could be noisy. A weak jobs print could revive growth fears, while a hotter inflation reading could jar rate-cut expectations and pressure the sector.
The next hard catalysts are the delayed January employment report due Feb. 11 and the January CPI report due Feb. 13, both scheduled for 8:30 a.m. ET. 4
