New York, Jan 29, 2026, 7:07 PM EST — After-hours
Shares of JPMorgan Chase & Co. climbed roughly 1.8% on Thursday, closing near $306.42 in after-hours trading. The gain followed a late surge in U.S. bank stocks, even as broader equity indexes showed signs of weakness.
Traders shifted gears once more, pulling funds from segments of Big Tech after earnings highlighted hefty AI investments. This rotation became clear by the close. The S&P 500 dipped 0.13%, while the Nasdaq dropped 0.72% on the day. Reuters
Banks continue to trade as if interest rates are the main play. The Fed’s move this week to hold rates steady has markets debating when cuts might kick in, a key factor for net interest income — the difference between what banks make on loans versus what they pay on deposits. Reuters
JPMorgan’s rise was echoed by other major banks. Bank of America added 2.45%, while Wells Fargo jumped 2.96% during Thursday’s trading—offering some bright spots amid a generally uneven day. MarketWatch
The bank found itself in the political spotlight this week. On Wednesday, U.S. President Donald Trump quipped that JPMorgan CEO Jamie Dimon “probably doesn’t like” him much these days. The remark came amid a $5 billion lawsuit Trump filed, alleging the bank and Dimon “debanked” him over political motives. Reuters
JPMorgan and Bank of America have informed staff they’ll match the government’s $1,000 seed funding for eligible children under the proposed “Trump Accounts,” according to an internal memo obtained by Reuters. These accounts, part of Trump’s “One Big Beautiful Bill Act,” are slated to roll out on July 4, 2026, the memo added. Reuters
Rate expectations remain volatile following the Fed’s latest move. Reuters noted a recent rise in U.S. bank lending, which could bolster arguments for maintaining higher rates over a longer stretch. That kind of trend usually carries more weight for bank stocks than the daily market chatter. Reuters
A Thursday SEC filing revealed JPMorgan’s financing division is pushing another structured note offering, part of the steady stream of capital-markets moves that rarely shift the stock solo but add context to funding trends. SEC
The risk is clear. Should the tech-driven selloff broaden into a full risk-off retreat, banks could suffer alongside it. And if the market suddenly starts pricing in quicker rate cuts, lending spreads would come under pressure—just as investors have been betting on rates staying “higher-for-longer.”
Traders are set to focus on Friday’s December U.S. Producer Price Index, out at 8:30 a.m. ET, hoping for new clues on inflation. Then all eyes turn to the January jobs report on Feb. 6, also at 8:30 a.m. ET — a key reading that could swiftly alter expectations for interest rates. Bureau of Labor Statistics
