New York, January 6, 2026, 11:19 EST — Regular session
- JPMorgan shares edge lower after Monday’s record high as financials rally cools
- Bank’s new Special Advisory Services unit and rate-cut bets keep focus on fee growth
- Next catalyst: JPMorgan’s fourth-quarter results on January 13 before the bell
JPMorgan Chase & Co (JPM.N) shares slipped 0.3% to $333 in late morning trade on Tuesday, easing after a sharp rally that pushed the bank to record highs in the prior session.
The move matters because JPMorgan is set to open the U.S. bank earnings season next week, and investors are looking for fresh clues on how 2026 may shape up for loan growth, credit quality and capital returns. Traders will also watch net interest income — the gap between what banks earn on loans and pay on deposits — as markets debate the timing and size of Federal Reserve rate cuts.
On Monday, JPMorgan rose more than 3% and hit a record high alongside Goldman Sachs and Morgan Stanley as investors rotated into financials ahead of quarterly reports, a Reuters market wrap showed. “The mood has been favoring financial stocks in recent days,” said Steve Sosnick, chief market analyst at Interactive Brokers. Reuters
The bank also drew attention this week after J.P. Morgan, its investment bank, launched a Special Advisory Services unit to advise a select group of clients beyond traditional financing and deal work, Reuters reported. The unit will focus on themes including artificial intelligence, cybersecurity, digital assets and geopolitics and will be led by Liz Myers, the bank’s global chair of investment banking. Reuters
Broader markets were steady on Tuesday as Wall Street extended its early-year rally, with investors positioning for Friday’s U.S. jobs report that could shape the Fed policy outlook. Fed Chair Jerome Powell has urged caution on further rate reductions until there is more clarity on the labor market, Reuters reported. Reuters
JPMorgan said it will release fourth-quarter and full-year 2025 results at about 7:00 a.m. ET on Tuesday, January 13, followed by an 8:30 a.m. conference call. Investors are likely to focus on management’s commentary on trading and investment-banking activity, expense discipline and credit trends. JPMorgan Chase
Dividend watchers also have January 6 circled on the calendar: JPMorgan’s board previously declared a quarterly dividend of $1.50 a share, payable on January 31 to stockholders of record at the close of business on January 6, the company said. JPMorgan Chase
One risk for the stock heading into earnings is cost pressure. In December, consumer and community banking chief Marianne Lake said the firm expects 2026 expenses to climb to about $105 billion, above analysts’ average estimate at the time, and noted fourth-quarter investment-banking revenue was tracking up low-single digits while markets revenue was seen up low-teens. Reuters
What comes next for traders is a two-step test: Friday’s nonfarm payrolls report (January 9) for the rate path, then JPMorgan’s results and guidance on January 13, which are expected to set the tone for big-bank earnings season.
