New York, Jan 14, 2026, 4:49 PM EST — Trading continues after hours.
Shares of JPMorgan Chase & Co. dropped roughly 0.9% in after-hours trading Wednesday, closing at $307.87. The bank remains under the microscope, its latest quarterly results shaping the early mood of the U.S. earnings season.
Shares tumbled 4.2% Tuesday as a proposed 10% cap on credit-card interest rates raised alarms for lenders reliant on card fees. Visa plunged 4.5%, Mastercard dropped 3.8%, and the S&P 500 financial sector slipped 1.8%. One strategist described the plan’s chances as “extremely difficult” to materialize. Reuters
JPMorgan’s latest filing revealed a fourth-quarter net income of $13.0 billion, or $4.63 per share, on $46.8 billion in revenue. The bank set aside a $2.2 billion credit reserve tied to its forward purchase commitment for the Apple credit card portfolio, shaving 60 cents off earnings per share. It paid out a $1.50 dividend and repurchased $7.9 billion in shares. Net interest income — the difference between loan earnings and deposit costs — climbed 7% to $25.1 billion. Equity markets revenue surged 40%, while investment banking fees dipped 5%. Looking ahead, JPMorgan anticipates roughly $95 billion in net interest income excluding markets and about $105 billion in adjusted expenses for 2026.
CEO Jamie Dimon noted, “The U.S. economy has remained resilient,” despite investor worries over policy changes and talks of a credit-card rate cap. CFO Jeremy Barnum slammed the proposed cap as “very bad for consumers, very bad for the economy.” Meanwhile, U.S. President Donald Trump expects companies to comply by Jan. 20. David Wagner of Aptus Capital Advisors pointed out that the stock’s strong performance heading into 2025 means “the bar for perfection is set pretty high.” Reuters
Bank of America topped profit forecasts Wednesday, fueled by trading gains in choppy markets and record net interest income. CEO Brian Moynihan said, “We are bullish on the U.S. economy in 2026,” and the bank anticipates a 7% rise in net interest income this quarter. Reuters
Wells Fargo fell short of profit forecasts, hit by $612 million in severance charges, sending its shares down 4.8%. CEO Charlie Scharf told analysts, “The economy and our customers remain resilient.” CFO Mike Santomassimo warned that the proposed credit-card cap would likely lead banks to tighten lending. Reuters
Citigroup surpassed fourth-quarter profit forecasts, driven by a rebound in dealmaking, with investment banking fees rising 35% to $1.29 billion. Still, net income declined due to a $1.2 billion pre-tax hit from the agreed sale of its Russian unit. “The turnaround story for Citi continues,” said David Wagner. Reuters
The next move for JPMorgan might hinge less on trading and more on Washington and consumer credit. A binding cap on card interest rates would tighten margins on a lucrative business. Plus, growing its card portfolio adds risk if the economy slows and charge-offs rise.
Investors turn their attention to the upcoming earnings slate, with Morgan Stanley and Goldman Sachs set to release results before Thursday’s open. The Federal Reserve’s next policy meeting is also on the horizon, scheduled for Jan. 27-28.
