NEW YORK, December 29, 2025, 10:51 ET — Regular session
- JPMorgan shares fell about 0.8% as U.S. stocks eased in holiday-thinned trading.
- Big-bank peers also traded lower, tracking softer Treasury yields and a risk-off tone.
- Investors are watching Tuesday’s Fed minutes and next month’s start to bank earnings season.
JPMorgan Chase & Co shares dipped on Monday, tracking a broader pullback in U.S. equities as traders headed into the final stretch of 2025 with light volumes and a thin economic calendar.
The stock was down 0.8% at $325.21 in morning trading. The banking bellwether traded between $324.88 and $328.39 earlier in the session.
The moves matter because large U.S. banks are closely tied to interest-rate expectations. When Treasury yields fall, it can pressure the spread banks earn between loans and deposits, a key profit driver.
Markets are also entering a catalyst-heavy handoff into 2026. Investors are looking for fresh signals on the path for Federal Reserve policy and, soon after, guidance from banks on loan demand, credit quality and expenses.
Wall Street’s main indexes opened the week lower as heavyweight technology stocks gave back some gains, while trading volumes were expected to stay light with U.S. markets closed on Thursday for New Year’s Day, according to a broader market wrap by Reuters.
“Given this week’s light economic calendar, internal momentum could be the main market storyline this week,” Chris Larkin, managing director of trading and investing at E*TRADE from Morgan Stanley, said in the Reuters report.
JPMorgan’s slide was not isolated. Bank of America shares were down about 1.0%, Wells Fargo fell 0.6% and Citigroup dropped 1.3% in morning trade.
The Financial Select Sector SPDR Fund, which includes major banks and insurers, was off about 0.4%.
In rates, benchmark Treasury yields edged lower to just over 4.1% as investors kept focus on the outlook for Fed cuts next year, a Reuters global markets report said. (Reuters)
Those rate expectations have been a double-edged sword for banks. Lower policy rates can lift dealmaking and credit demand, but can also squeeze net interest income — what a bank earns on loans and securities minus what it pays on deposits.
Investors will get another read on the Fed’s thinking on Tuesday with the release of minutes from the central bank’s latest meeting, Reuters said.
For JPMorgan specifically, the next major scheduled catalyst is earnings. The bank said it will report fourth-quarter and full-year 2025 results on Jan. 13, with a conference call at 8:30 a.m. ET. ( JPMorgan investor release)
Heading into that report, traders will be watching for any shift in management commentary on deposit costs, consumer spending trends and credit losses, along with updates on investment-banking activity as the new year begins.
