NEW YORK, January 4, 2026, 17:19 ET — Market closed
JPMorgan Chase & Co shares ended Friday up $3.26, or about 1%, at $325.48, closing out the first U.S. trading session of 2026 with investors already looking to the bank’s quarterly results on Jan. 13. Nasdaq
With U.S. markets shut on Sunday, JPM holders head into Monday weighing whether the new year’s early optimism can hold through a dense run of economic data and the first wave of big-bank earnings.
The backdrop is a Federal Reserve that cut rates at its last three meetings of 2025, leaving investors split over how much further easing is coming — and what it means for lenders’ profitability. “The market is looking for direction,” Matthew Maley, chief market strategist at Miller Tabak, said, as fed funds futures — contracts that reflect traders’ policy-rate expectations — price little chance of a cut at the late-January meeting and close to a 50% probability in March. Reuters
JPM traded between $320.74 and $325.73 on Friday and closed above both its 50-day moving average near $311 and its 200-day moving average around $286, trend lines many chart-focused traders treat as potential support and resistance. The stock’s 52-week range runs from $202.16 to $330.86, according to Yahoo Finance. Yahoo Finance
Stocks, rates and the dollar moved in tandem on Friday: the Dow rose 0.66% and the S&P 500 edged up 0.19% as the 10-year Treasury yield climbed to 4.191%, Reuters reported. Higher yields can buoy bank shares by widening lending spreads if deposit costs don’t rise as quickly. Reuters
Bank peers outpaced JPM’s move on the day, with Wells Fargo up 2.15% and Bank of America gaining 1.73%, MarketWatch data showed. That relative performance can matter into earnings season, when investors often rotate quickly between lenders based on guidance and sentiment. Marketwatch
A small insider disclosure also hit the tape: a Form 4, the SEC filing that reports insider transactions, showed JPMorgan director Stephen B. Burke deferred a quarterly cash retainer into 174.5702 shares, recorded at $322.22 per share. Such awards are not open-market purchases, but filings can draw attention ahead of earnings. SEC
The first major macro marker for the week is the Labor Department’s Employment Situation report for December, due at 8:30 a.m. ET on Jan. 9. For banks, jobs data can swing expectations around loan demand and, in a downturn, credit costs. Bureau of Labor Statistics
Inflation is next on deck: the consumer price index, a key gauge of price pressures, is scheduled for 8:30 a.m. ET on Jan. 13 — the same morning JPMorgan said it plans to release results at about 7:00 a.m. ET, with a conference call set for 8:30 a.m. ET. Investors will be parsing net interest income — the gap between what a bank earns on loans and pays on deposits — alongside management’s outlook for 2026. Bureau of Labor Statistics
But the setup carries risk. A sharp swing in yields after the data could reset assumptions about bank margins, while a weaker-than-expected jobs report could revive recession fears that pressure credit-sensitive lenders. The next clear catalysts for JPM shares are Monday’s reopening, the Jan. 9 jobs report, and the Jan. 13 pairing of the bank’s earnings with the inflation print.
