New York, January 18, 2026, 10:08 EST — Market closed.
- JPMorgan shares ended the session roughly 1% higher, closing at $312.47.
- Trump said he intends to sue JPMorgan within two weeks over alleged “debanking.” CEO Jamie Dimon responded, “There was no job offer” for the Fed chair position.
- Banks want clear guidance on Trump’s plan to cap credit card interest rates at 10% for one year, beginning January 20.
JPMorgan Chase & Co. shares closed up roughly 1% at $312.47. The bank faces renewed political drama ahead of next week after President Donald Trump announced plans to sue over alleged “debanking” within two weeks. CEO Jamie Dimon pushed back, saying, “There was no job offer,” while the bank stated accounts shouldn’t be closed based on political or religious beliefs. (Reuters)
U.S. stock markets will remain closed Monday in observance of Martin Luther King Jr. Day, delaying trading until Tuesday. Investors get an additional day to digest weekend news before the market reopens. (New York Stock Exchange)
Bank stocks remain caught up in policy uncertainty, not market moves. Trump plans to cap credit card interest rates at 10% for a year starting January 20, but the White House hasn’t detailed enforcement yet, and experts say Congress would likely have to approve it. Stephen Biggar of Argus Research commented, “I think there will be an ongoing conversation between the industry and the administration.” Brian Mulberry at Zacks Investment Management warned that “policy volatility” will probably keep shares on edge. Moshe Orenbuch from TD Cowen noted a 10% rate cap would lead to “less robust” card features. (Reuters)
JPMorgan capped the week by spotlighting growth in a fresh area. It announced a new private capital advisory & solutions team, designed to assist companies and sponsors in raising funds outside public stock exchanges. Keith Canton will lead the effort, which merges private-capital advisory with M&A services. “Private markets are a strategic priority for J.P. Morgan,” said Anu Aiyengar, head of global advisory and M&A. (Reuters)
On Friday, JPMorgan’s major rivals showed mixed results. Bank of America ended up roughly 0.7%, Citigroup rose near 0.5%, while Wells Fargo dropped around 0.7%.
Heading into the long weekend, trading was uneven. U.S. stocks closed Friday close to unchanged. The S&P 500 financial sector ticked higher that day but still posted its steepest weekly drop since October, weighed down by concerns over the proposed cap on credit-card rates. (Reuters)
The week ahead won’t offer an easy trade. Should the cap plan pick up steam, or if banks end up rolling out low-rate cards with fewer perks, it could tighten a key revenue stream that cushions slower loan growth. Traders would then begin recalculating the impact on earnings power.
Headline risk lurks outside the scope of models. Even without a court case, a lawsuit threat from the White House targeting the largest U.S. bank can weigh on the stock. It drags Washington back into focus just when investors crave stability and fewer shocks.
Tuesday’s reopening is the immediate hurdle, with investors focused on fresh updates from the administration about the credit-card initiative and how the sector reacts. The next big macro event comes with the Federal Reserve’s policy meeting on January 27-28, followed by a press conference on January 28. (Federal Reserve)
