NEW YORK, December 29, 2025, 17:35 ET — After-hours
- JPMorgan shares fell 1.3% on Monday, tracking a broader dip in U.S. stocks into year-end.
- Treasury yields eased as investors weighed prospects for Federal Reserve rate cuts in 2026, a key driver for bank earnings.
- New York Fed data showed heavy year-end use of the Fed’s standing repo facility, keeping short-term funding conditions in focus.
JPMorgan Chase & Co. shares slid 1.3% on Monday and were last at $323.75 in after-hours trading.
The decline matters because big banks are tightly linked to the direction of interest rates. When yields fall, investors often assume lending margins and some trading activity will cool, pressuring expectations for bank earnings.
The timing also coincides with thin, holiday-shortened trading, when positioning around quarter- and year-end can amplify moves. That backdrop has pushed investors to focus on both rates and short-term liquidity conditions.
U.S. stocks ended lower, with Treasury yields easing as markets weighed rate-cut expectations for next year. “In light volume trading, we’re seeing a reversal of what we saw over the last couple of days,” said Rob Haworth, senior investment strategist at U.S. Bank Wealth Management. Reuters
Bank peers also weakened, with Bank of America down 1.46% and Wells Fargo off 0.78% on the day, according to market data.
For JPMorgan, the stock traded between $323.56 and $328.39 on Monday after opening at $327.00, with about 7.7 million shares changing hands.
Traders often watch Treasury yields because they anchor borrowing costs across the economy. A “basis point” is 0.01 percentage point, and even small daily moves can shift expectations for banks’ net interest income — the spread between what they earn on loans and pay on deposits.
Short-term funding markets were also in focus after New York Fed data showed banks drew $25.95 billion from the standing repo facility, an overnight backstop that lends cash against Treasury or mortgage-backed securities. The loans were made at 3.75%, the top of the Fed’s current policy range, in a pattern consistent with quarter-end strains.
Separately, an SEC filing showed JPMorgan’s finance subsidiary priced $820,000 of structured notes tied to U.S. equity indexes, fully guaranteed by JPMorgan Chase & Co.
Investors will be watching whether the year-end drift in yields continues, and whether funding indicators such as repo usage stay elevated into the final sessions of 2025. The mix can influence trading revenue expectations and sentiment across bank stocks.
On the chart, traders pointed to Monday’s low near $323.6 as a near-term support area. A move back above the day’s high around $328 would be needed to put recent highs back within reach.
The next clear catalyst is earnings. JPMorgan is scheduled to release fourth-quarter and full-year 2025 results around 7:00 a.m. ET on Jan. 13, followed by a conference call at 8:30 a.m., the company said.
