New York, Feb 16, 2026, 13:13 ET — The market has closed.
- Presidents Day has U.S. markets closed, with JPM finishing its last session at $302.55, down just 0.03%.
- A judge cleared the way for customers to move forward with part of their lawsuit alleging low cash-sweep interest rates.
- Attention shifts to Tuesday’s reopening, with U.S. GDP figures set for release on Friday, and JPMorgan expected to provide its company update on Feb. 23.
JPMorgan Chase & Co shares are set for Tuesday’s open after a Manhattan judge cleared the way for customers to press on with breach-of-contract claims tied to the bank’s cash sweep programs, which shift idle brokerage and retirement balances into interest-bearing accounts. Plaintiffs argue those sweeps paid just 0.01% to 0.03% in interest, even as short-term rates shot past 5%. JPMorgan pushed back, calling the lawsuit an attempt by customers to “seeking a windfall.” Other banks including Wells Fargo and U.S. Bancorp have faced similar sweep-related lawsuits. (Reuters)
With U.S. stock and bond markets shuttered Monday for Presidents Day, investors face a longer pause between Friday’s finish and the opening tick on Tuesday. For bank stocks, that time frame isn’t trivial. Any uptick in what banks owe on customer deposits can hit earnings fast, especially when rates are shifting. (AP News)
This week’s packed data docket could shake up yields and rate-cut expectations—key drivers for bank stocks. Deutsche Bank strategist Jim Reid, in a note, said his team projects U.S. real GDP growth to cool to 2.5% for the fourth quarter, with that report set for release Friday. Stock futures, meanwhile, saw light action in muted holiday trading on Monday. (Reuters)
JPMorgan closed out Friday at $302.55, slipping 0.03% following Thursday’s 2.63% slide. Shares moved in a range from $296.52 to $304.29. After-hours quotes pointed to $302.93. (Investing.com)
The bank said it has filed its Form 10-K annual report for the year ending Dec. 31, 2025. JPMorgan reported $4.4 trillion in assets and $362 billion in stockholders’ equity as of year-end. (Seeking Alpha)
JPMorgan has tapped Guy Halamish, a longtime insider, as chief operating officer for its commercial and investment bank, according to an internal memo. Halamish will be in charge of data and AI strategy for the division. (Reuters)
Right now, traders are focused on the spread business. Net interest income, that crucial difference between what banks make from loans and securities and what they shell out for deposits, gets squeezed if deposit costs climb or rates drop quicker than the market’s bracing for.
The road from court decision to any real impact on earnings? Not straightforward. The case might linger, wind up with a discreet settlement, or just shrink in scope. For markets, it may fade into the backdrop, overshadowed by rates and credit concerns.
JPMorgan’s got its company update set for Feb. 23, with slides going live at 4 p.m. ET. Q&A will follow at 4:30 p.m. ET. (JPMorgan Chase)
