New York, Jan 9, 2026, 18:16 (EST) — After-hours
Shares of JPMorgan Chase & Co (JPM.N) dipped 0.2% to $329.19 in after-hours trading Friday as investors digested the bank’s move to take over the Apple Card program from Goldman Sachs. JPMorgan flagged a $2.2 billion provision for credit losses tied to the forward purchase of the portfolio. (Reuters)
The timing feels off, even by market standards. JPMorgan reports Tuesday, kicking off a stretch of big-bank earnings that investors rely on for clues about the economy and consumer health. Citigroup, Bank of America, and Goldman Sachs follow later in the week. “The banks … they’re on the front lines,” said Jack Janasiewicz, a portfolio manager at Natixis Investment Managers, highlighting credit card payment trends as an early warning sign. (Reuters)
Friday’s U.S. jobs report failed to clear up the debate over interest rates. Nonfarm payrolls increased by 50,000 in December, with unemployment edging down to 4.4%. Wages grew at a 3.8% annual rate, the data revealed. “Hiring is still stuck in stall speed,” said Olu Sonola, head of U.S. economic research at Fitch Ratings, highlighting the environment that keeps all eyes on the Fed’s next move.
Apple and Chase announced the transition should take roughly 24 months, pending regulatory approval, while Mastercard will remain the payment network. The companies confirmed Apple Card users can continue using their cards throughout the switch. (JPMorgan Chase)
Goldman is stepping away from a consumer push that never fully clicked. “This transaction substantially completes the narrowing of our focus in our consumer business,” CEO David Solomon said. The firm expects the deal to boost its fourth-quarter 2025 earnings by $0.46 per share. That gain mostly comes from a $2.48 billion reserve release, offset by a $2.26 billion hit to net revenues and $38 million in expenses. (Goldman Sachs)
JPMorgan is expected to post a modest profit increase on Tuesday, with investors focusing on trading and investment banking trends as well as any changes in credit costs. Analysts forecast a 3% jump in earnings to $4.94 per share, while revenue is projected to rise about 7% to $46.2 billion, according to Investors Business Daily estimates. (Investors)
But the Apple Card news also shifts focus back to credit and costs—two factors that can change faster than deal rumors. Rising delinquencies could force banks to boost reserves, while any inflation surprise might shake up rate expectations. That’s a real problem for net interest income, the gap between what lenders make on loans versus what they pay on deposits.
JPMorgan plans to report earnings around 7:00 a.m. ET Tuesday, with a conference call set for 8:30 a.m., the bank announced. The Bureau of Labor Statistics will also release December CPI figures at 8:30 a.m. ET, a key data point investors are watching closely ahead of upcoming rate decisions. (JPMorgan Chase)
