NEW YORK, Jan 8, 2026, 11:13 AM ET — Regular session
- JPMorgan shares rose about 1.1% in late morning trade
- Bank will take over Apple Card from Goldman, bringing more than $20 billion in balances
- Focus shifts to Jan. 13 results for credit-loss and spending signals
JPMorgan Chase & Co (JPM) shares rose about 1.1% to $330.65 in late morning trading on Thursday after the bank said it will become the new issuer of Apple’s Apple Card, replacing Goldman Sachs. The deal is subject to regulatory approvals and is not expected to close for roughly two years. “This transaction substantially completes the narrowing of our focus in our consumer business,” Goldman Chief Executive David Solomon said. Reuters
The agreement would bring more than $20 billion in card balances to Chase’s platform once completed, adding heft to a business where scale matters and losses can swing fast. JPMorgan also expects to record a $2.2 billion provision for credit losses in the fourth quarter tied to the forward purchase commitment — money set aside for potential bad loans — a reminder that the upside comes with credit risk.
That matters heading into bank earnings next week, with investors already primed to parse credit-card delinquencies and any shift in consumer spending. JPMorgan is scheduled to release results at about 7:00 a.m. ET on Jan. 13, followed by a call at 8:30 a.m. ET.
The move in JPM’s stock came as broader U.S. indexes slipped in early trade, with the S&P 500 down about 0.1% and the Nasdaq off about 0.6% at 9:52 a.m. ET. Weekly jobless claims rose by 8,000 to 208,000 for the week ended Dec. 27, a report that kept attention on Friday’s U.S. employment data. “Both data points ended up pointing to a softening in the job picture, that’s what’s causing the market to be a bit concerned about Friday’s employment data,” Sam Stovall, chief investment strategist at CFRA Research, said. Reuters+1
JPMorgan is also clawing back ground after a sharp drop in the prior session, when shares fell 2.3% after Wolfe Research downgraded the bank to “peer perform” from “outperform.” Reuters
Outside the consumer bank, JPMorgan said on Wednesday it appointed Sri Kosaraju as a global chair of investment banking to support its healthcare vertical, another sign the firm is leaning into dealmaking as activity improves.
Analysts expect the biggest U.S. banks to post stronger fourth-quarter profits next week, helped by a rebound in investment banking. JPMorgan’s earnings per share are expected to rise more than 3% from a year earlier, according to LSEG estimates, and investors have been braced for questions on 2026 spending after last month’s expense comments rattled the stock. “The biggest variable we’re monitoring heading into earnings and the new year is what happens with inflation,” Morningstar analyst Sean Dunlop said. Reuters
But the Apple Card handover is long-dated, and approvals, integration work and credit performance could all shift before it closes. If late payments climb or the economy cools faster than expected, provisions could rise and blunt the boost from new balances, even as JPMorgan pushes to keep a lid on costs.
Investors now watch Friday’s U.S. payrolls report for the next read on rates and the economy, then JPMorgan’s Jan. 13 results for a clearer view of credit costs and 2026 spending — with management likely to face questions about how the Apple Card deal changes that picture.
