New York, Feb 13, 2026, 11:53 EST — Regular session
JPMorgan Chase & Co (JPM.N) barely budged on Friday, trading up just 0.2% at $303.36 by mid-morning after an earlier dip to $296.91. A U.S. judge gave the green light for customers to pursue parts of a proposed class action challenging the bank’s cash-sweep interest rates. Plaintiffs say some sweep accounts paid only 0.01% to 0.03% interest, despite short-term U.S. rates moving above 5%.
Cash sweeps take idle client funds and automatically shift them into deposit-style accounts. For banks, those rates aren’t trivial—they directly affect net interest income, the gap between what banks make from assets and what they pay out to depositors. With rates holding at higher levels, that spread has faced extra scrutiny, especially as customers push harder for higher yields.
U.S. stocks headed lower, setting up for their roughest week since November. Tech again took the heat, erasing any lift from inflation numbers that came in softer than expected. “The important takeaway … is that the trend in disinflation continues,” said Michael Metcalfe, head of market strategy at State Street Markets. Over at Northwestern Mutual Wealth Management, chief investment officer Brent Schutte pointed out that investors are “discounting a lot of earnings streams” while valuations remain far from cheap. Reuters
Bank stocks went their own ways in late morning moves. Wells Fargo tacked on 0.7%, Bank of America held steady, Citigroup edged down 0.2%, and Goldman Sachs dipped 0.3%.
JPMorgan is shaking up its ranks, moving to embed data and artificial intelligence efforts more deeply within its commercial and investment bank. According to a memo reviewed by Reuters, the bank tapped insider Guy Halamish as chief operating officer for the division, putting him in charge of its data and AI strategy. Chief data and analytics officers across key business lines will now report to both Halamish and their respective unit heads.
The memo outlined that the restructured group takes on data quality, governance, and infrastructure tied to “AI agents”—these are programs meant to handle tasks with minimal human input. It’s also charged with driving end-to-end shifts across credit and client onboarding.
The shares could still feel pressure if the court battle drags out or becomes costly, despite some claims being pared back. Investors are also weighing the impact on bank profits, should short-term rates drop later this year and narrow the spread that’s been driving earnings.
Trading picks up a different pace next week. U.S. markets shut down Monday for Washington’s Birthday. After that, eyes turn to January retail sales out on Tuesday. Fed minutes from January’s meeting land Wednesday at 2 p.m. ET. By Friday, Feb. 20, the government drops its advance reading of fourth-quarter GDP.
