NEW YORK, Dec. 28, 2025, 10:07 a.m. ET — Market closed
JPMorgan Chase & Co. (NYSE: JPM) heads into the final stretch of 2025 with its stock hovering just below fresh highs, as investors balance a strong year-end tape for U.S. equities with new headlines tied to crypto-linked payments flows and a packed set of macro catalysts that can quickly move bank shares.
With U.S. stock markets closed for the weekend, JPM shares last traded around $327.91, down about 0.4% from the prior session, after a $326.55–$330.82 range that kept the stock within striking distance of recent peaks. [1]
Where JPM stands heading into Monday’s reopening
The setup for JPM is straightforward: price action has been resilient, but the stock is also operating near levels where investors tend to demand clarity on the next leg of earnings momentum—especially into January bank reporting season.
A technical note circulating into the weekend: Investor’s Business Daily highlighted JPM shares pushing to new highs and moving into a bullish technical posture ahead of the company’s next earnings report. [2]
From a fundamentals lens, JPM remains a bellwether for the broader financial sector—sensitive to interest-rate expectations, capital markets activity, consumer credit trends, and regulatory posture. The company reported $4.6 trillion in assets and $360 billion in stockholders’ equity as of Sept. 30, 2025, underscoring its scale and why the stock often trades as a “macro + execution” story rather than on one headline alone. [3]
The biggest JPM-specific headline in the last 24–48 hours: account freezes tied to stablecoin startups
One of the most talked-about company-specific stories over the past two days centers on JPMorgan’s relationship with newer payment rails—and how banks manage sanctions, chargebacks, and risk controls when fintech and crypto-adjacent firms scale quickly.
PYMNTS reported that JPMorgan froze accounts used by stablecoin startups BlindPay and Kontigo, citing concerns tied to business activity connected to Venezuela and other sanctioned or restricted jurisdictions, according to reporting it attributed to The Information. [4]
Key details from the reporting that investors are likely to parse:
- PYMNTS said both companies connected to JPMorgan through digital payments firm Checkbook. [5]
- A JPMorgan spokesperson, as quoted in the report, disputed the framing—saying the move “has nothing to do with stablecoin companies,” and that JPMorgan banks stablecoin issuers and related businesses. [6]
- Checkbook CEO PJ Gupta said the startups were among firms linked to a rise in chargebacks that led JPMorgan to close accounts, per the report. [7]
Why it matters for JPM stock: even if near-term financial impact is limited, these stories can shape investor perceptions around (1) payments risk controls, (2) reputational and compliance discipline, and (3) JPM’s positioning in digital assets as the industry evolves—particularly as banks weigh what to embrace, what to ring-fence, and what to exit.
Digital assets backdrop: JPM’s “expand carefully” posture remains in focus
While weekend headlines were more about payments and account controls, investors also have not forgotten JPM’s broader digital-assets trajectory.
Reuters reported earlier this week that JPMorgan has been exploring crypto trading for institutional clients, potentially spanning spot and derivatives, while emphasizing that the effort was at an early stage and contingent on client demand; JPMorgan declined to comment to Reuters on the report. [8]
In other words: JPM’s digital-asset direction is being watched from two angles at once—growth optionality (new institutional services) and risk containment (how it manages exposure across payments, compliance, and counterparties).
What the broader market is saying right now—and why that matters for bank stocks like JPM
JPM doesn’t trade in a vacuum, and this weekend’s most important “macro read” came from Reuters’ look at what’s driving markets into the final sessions of the year.
Reuters noted that U.S. equities are near record peaks heading into year-end, with the S&P 500 sitting close to the 7,000 milestone and on track for an extended streak of monthly gains. In that context, strategists warned that light volumes and year-end portfolio adjustments can amplify volatility. [9]
Reuters also highlighted a key narrative relevant to JPM: signs of rotation into non-tech areas such as financials, alongside a market increasingly focused on the path of Fed rate cuts. [10]
Several market voices in the Reuters report help frame the mood investors will bring into Monday:
- Paul Nolte (Murphy & Sylvest Wealth Management) said “momentum is certainly on the side of the bulls,” while cautioning that exogenous shocks can still disrupt the path higher. [11]
- Michael Reynolds (Glenmede) pointed to how intensely markets are “handicapping” the number of rate cuts next year—suggesting the next data points and Fed communication may matter more than usual in thin year-end trade. [12]
- Anthony Saglimbene (Ameriprise Financial) described rotation as partly tied to investors leaning into a “solid footing” economic narrative and searching for more moderate valuations outside tech. [13]
For JPM specifically, the takeaway is clear: rate expectations (and the Treasury curve) can move the stock quickly, because investors translate rate paths into outlooks for net interest income, credit conditions, and capital markets activity.
Wall Street’s forecast snapshot: price targets cluster near today’s level
From an expectations-management standpoint, one notable feature of JPM’s current setup is how close the stock is trading to commonly cited 12‑month targets.
MarketBeat’s analyst compilation lists JPM with a consensus “Hold” rating, based on 27 analyst ratings, and an average price target of $329.19—roughly in line with where the stock last traded. [14]
That doesn’t mean there is no upside case. MarketBeat’s data also shows a wide spread between the high target ($375) and low target ($259)—a reminder that analysts’ views can diverge meaningfully depending on assumptions about rates, credit normalization, and capital markets activity. [15]
Investors sometimes interpret “price near target” setups in two ways:
- Good news is priced in, so execution must be strong (or macro must improve further) to drive fresh multiple expansion.
- Stability premium, where a market leader with durable earnings power can still grind higher if fundamentals keep beating conservative assumptions.
The next big company catalyst: JPM’s Q4 and full-year 2025 earnings
The most important date on the near-term calendar is Tuesday, Jan. 13, 2026.
JPMorgan said it plans to release fourth-quarter and full-year 2025 results at approximately 7:00 a.m. ET and host its earnings call at 8:30 a.m. ET that morning. [16]
Between now and then, investors will likely focus on:
- Any updates on trading and investment banking activity (both sensitive to market levels and client confidence),
- Expense discipline and headcount/technology spend signals,
- Credit metrics in consumer and commercial books,
- Capital return posture.
A reminder on expenses: the “cost line” remains a key debate
One of the most consequential JPM-specific debates into 2026 is how higher spending intersects with revenue growth.
Reuters reported that JPMorgan expects 2026 expenses around $105 billion, with consumer and community banking chief Marianne Lake citing growth/volume-related costs and strategic investments as major drivers. Reuters also cited LSEG data showing analysts, on average, expected $100.84 billion in expenses. [17]
Why investors care: for mega-cap banks near highs, incremental upside often depends less on “is the franchise great?” (JPM’s is widely seen that way) and more on whether revenue growth and efficiency trends justify the valuation multiple.
Dividend checkpoint: what income-focused investors should track
JPMorgan’s board declared a quarterly common stock dividend of $1.50 per share, payable Jan. 31, 2026, to shareholders of record at the close of business on Jan. 6, 2026, according to the company. [18]
For investors focused on total return, the record date can matter—especially around year-end when positioning and tax considerations can influence flows.
If you’re watching Monday’s session: key “before the bell” items to know
Because markets are closed today and liquidity can be thin late in the year, Monday’s premarket and early regular-session trading can sometimes overreact to headlines. Regular U.S. stock market hours are 9:30 a.m. to 4:00 p.m. ET, and the market is closed on weekends. [19]
Here are the most practical things to monitor before the next session opens:
- Economic releases on Monday, Dec. 29 (ET):
The New York Fed’s calendar lists Advance International Trade in Goods (8:30 a.m.), NAR Pending Home Sales Index (10:00 a.m.), and the Dallas Fed Manufacturing Survey (10:30 a.m.) among the scheduled releases. [20] - Fed communication this week:
Reuters flagged Fed meeting minutes as a key market event in the holiday-shortened, year-end stretch, with investors laser-focused on the rate path. [21] - Extended-hours dynamics (if you trade premarket):
Nasdaq notes that premarket can run 4:00 a.m. to 9:30 a.m. ET and after-hours 4:00 p.m. to 8:00 p.m. ET, while warning that extended markets often bring higher volatility and lower liquidity. [22]
(Broker rules differ, but the liquidity point matters regardless—especially for large, widely held names like JPM.) - Company headline risk:
Watch for any follow-ups to the stablecoin/payments reporting, especially if JPMorgan, Checkbook, or the startups involved provide additional context. [23]
Bottom line
JPMorgan stock enters Monday’s session near record territory, supported by a strong broader-market backdrop and ongoing rotation interest in financials—but also facing the kind of headline sensitivity that can flare up in thin year-end trade. Between now and the Jan. 13 earnings report, the biggest swing factors remain the Fed/rate narrative, expense expectations, and any incremental signals that JPM’s payments and digital-assets posture is tightening—or opening—at the margins. [24]
References
1. www.investing.com, 2. www.investors.com, 3. www.jpmorganchase.com, 4. www.pymnts.com, 5. www.pymnts.com, 6. www.pymnts.com, 7. www.pymnts.com, 8. www.reuters.com, 9. www.reuters.com, 10. www.reuters.com, 11. www.reuters.com, 12. www.reuters.com, 13. www.reuters.com, 14. www.marketbeat.com, 15. www.marketbeat.com, 16. www.jpmorganchase.com, 17. www.reuters.com, 18. www.jpmorganchase.com, 19. www.fidelity.com, 20. www.newyorkfed.org, 21. www.reuters.com, 22. www.nasdaq.com, 23. www.pymnts.com, 24. www.reuters.com
