New York, Jan 28, 2026, 19:08 EST — After-hours
Shares of JPMorgan Chase & Co edged up roughly 0.1% to $300.77 on Wednesday, holding steady near recent peaks as U.S. equities ended the day flat. Late trading saw little movement from the stock.
The Federal Reserve kept its policy rate steady between 3.50% and 3.75%, with little movement on Wall Street: the Dow inched up 0.02%, the S&P 500 dipped 0.01%, and the Nasdaq added 0.17%, after the S&P briefly crossed 7,000 for the first time. Traders remain confident the first rate cut will come in June. “Whether you were bullish or bearish … you walked away feeling about the same,” said Michael James, an equity sales trader at Rosenblatt Securities. (Reuters)
Timing is crucial for bank stocks because rate cuts usually squeeze net interest income — the difference between what banks earn on loans and pay on deposits — unless loan growth and fee income rise quickly enough to make up the gap. Earlier today, a Reuters analysis highlighted a pickup in bank lending, suggesting the Fed might face less urgency to resume rate cuts soon. (Reuters)
JPMorgan eked out a small gain, while other major banks slipped in late trading: Bank of America dropped roughly 0.7%, and Wells Fargo declined about 0.8%.
Policy news hit the tape again. JPMorgan and Bank of America announced they’ll match the government’s one-time $1,000 seed deposit into the new “Trump Accounts” for eligible U.S. employees’ children, according to a memo and statement seen by Reuters. These accounts are slated to launch on July 4, with the Treasury placing the money into low-cost index funds that grow tax-deferred—taxes apply only when withdrawn. (Reuters)
The Fed’s stance remains the key factor shaping bank valuations. “The Fed did nothing and did it with conviction,” Karl Schamotta, chief market strategist at Corpay, said in a reaction note, highlighting the 10-2 vote and the central bank’s comments on the labor market. (Reuters)
The risk hasn’t vanished. A separate Reuters report from Dublin highlighted a possible hit to airline loyalty programs if President Donald Trump’s proposed 10% cap on credit-card interest rates becomes law — a move that would need congressional approval. “That’s a huge chunk of profit that has just disappeared,” said Pooja Gardemal, managing director at BK Associates. United Airlines’ chief commercial officer noted the carrier stays in frequent contact with JPMorgan, its largest card partner. (Reuters)
Investors are zeroing in on whether megacap tech earnings can sustain the market’s appetite for risk — a dynamic that often lifts financials through broader market sentiment, even if banks don’t have new earnings news. (Reuters)
Thursday’s spotlight turns to new U.S. labor-market figures, as weekly jobless claims and unit labor costs are set for release at 8:30 a.m. ET. These numbers often shift rate expectations sharply, rattling bank stocks such as JPMorgan. (Investing)
