Why JPMorgan Chase & Co. stock is rising today: frontier-bond index plan and a Wall Street upgrade
JPMorgan shares rose 2% to $314.25 Tuesday after Kevin Warsh was nominated to lead the Fed and Baird upgraded the stock to Neutral, citing high valuation. Sources said JPMorgan is finalizing a frontier-market bond index, with details expected by June. U.S. economic data releases were delayed due to a partial government shutdown. Other major banks also gained in morning trading.