NEW YORK, February 15, 2026, 11:51 AM EST — Market is closed.
- JPMorgan shares ended Friday at $302.55, barely budging from their previous close.
- A U.S. judge allowed the crucial cash-sweep breach-of-contract claims to proceed, while cutting back on other accusations.
- Heading into Tuesday’s reopen, rate-cut bets linger in the background, along with fresh regulation headlines.
JPMorgan Chase & Co’s stock (JPM.N) wrapped up the week flat ahead of the U.S. holiday break, as a Manhattan federal judge permitted part of a suit over cash-sweep rates to proceed.
This decision cuts right into the issue of how much major brokers shell out to clients for idle cash—a growing pain as customers weigh their near-cash choices more sharply than just a few years back. It also throws a spotlight again on a well-worn term in earnings calls: net interest income, which is simply the spread between what banks make and what they hand over to depositors.
Rates aren’t following the script. U.S. consumer prices climbed 2.4% in January from a year ago—just under forecasts—while the Fed’s policy rate sits between 3.50% and 3.75%. “We wonder if market participants might recalibrate their expectations around 2026 interest rate cuts,” Orion’s chief investment officer Tim Holland said. (Reuters)
JPM ended the session at $302.55, slipping 14 cents from its previous finish, market data showed. Friday’s trading sent the stock as low as $296.91 and up to $304.28, after it started out at $297.98. Roughly 9.1 million shares changed hands.
U.S. District Judge Lorna Schofield ruled that JPMorgan has to answer claims it broke deposit account agreements by not adjusting interest rates “based on business and economic conditions,” and also failed to pay a “reasonable rate” of interest on individual retirement accounts. However, she tossed out the fiduciary-duty claims. JPMorgan’s response: plaintiffs are “seeking a windfall.” The bank had nothing further to say following the decision. The proposed class action applies to customers going back to August 24, 2018. Cases targeting cash-sweep practices at Wells Fargo, Bank of America, and U.S. Bancorp have produced uneven outcomes. (Reuters)
Regulatory worries still linger in the background. According to Reuters, the Federal Reserve plans to name Randall Guynn—a former Davis Polk partner—as its director of supervision and regulation. The role carries weight in setting bank exam procedures and capital requirements. But the appointment isn’t official yet; it awaits a board vote, and there’s no firm date. (Reuters)
JPMorgan may find itself collecting hefty fees soon, with DayOne— the data centre operator— reportedly weighing a U.S. IPO targeting up to $5 billion. According to Bloomberg, the company has reached out to JPMorgan and Morgan Stanley to run the show, Reuters reported. (Reuters)
JPMorgan’s Company Update is coming up soon in New York City—set for Feb. 23, and scheduled to feature a company overview and a late-afternoon Q&A with top executives. (JPMorgan Chase)
Still, there’s nothing straightforward here. The cash-sweep lawsuit remains in its early stages, making it tough to estimate the possible impact. Deposit competition is another wild card; if rates fall sooner than markets are pricing in, banks could see their margins pressured—regardless of how the economy performs.
With U.S. markets shut for Presidents Day on Monday, investors will have to wait for Tuesday’s session to gauge how a fresh court decision and a cooler inflation reading might hit sentiment at the big banks. On Friday, traders pushed the implied probability of a June rate cut up to just above 52%, eyeing a 25 basis point move, according to CME’s FedWatch tool. (Reuters)
