New York, Jan 30, 2026, 11:20 (ET) — Regular session
- JPMorgan shares slipped roughly 0.5% in late morning trading amid a mixed session for bank stocks
- Trump picks Kevin Warsh to lead the Fed, prompting investors to rethink the interest rate outlook
- Upcoming triggers include the U.S. jobs report on Feb. 6 and JPMorgan’s company update set for Feb. 23
Shares of JPMorgan Chase & Co dipped $1.42, roughly 0.5%, to hit $305 in late morning trading Friday, bouncing between $303.09 and $307.82 earlier in the session.
The stock followed a weaker trend after President Donald Trump nominated former Federal Reserve governor Kevin Warsh to replace Jerome Powell, a move many investors saw as signaling a tougher stance on interest rates. Producer prices, which measure wholesale inflation, also came in higher than expected in December, fueling concerns about persistent inflation. “There is a general sense of hawkishness,” said Ipek Ozkardeskaya, senior analyst at Swissquote Bank. (Reuters)
Why this matters for JPMorgan now: big banks are trading as if they’re proxies for interest rates. Shifts in traders’ outlooks on rates can quickly alter forecasts for net interest income — the gap between a bank’s loan earnings and deposit costs — as well as credit expenses if growth slows down.
In rates, the 10-year Treasury yield hovered near 4.25% following Trump’s announcement of Warsh as his nominee. Futures, however, continued to price in a steady Fed at the upcoming March meeting, Reuters reported. “It’s one thing to appoint somebody and it’s entirely different” to actually run the Fed, said Chris Beauchamp, chief market analyst at IG Markets. (Reuters)
Peers showed a mixed picture. Bank of America held steady, Citigroup gained around 0.6%, and Wells Fargo slipped about 0.2%. The Invesco KBW Bank ETF edged down roughly 0.3%.
JPMorgan announced it will match the U.S. government’s one-time $1,000 payment to “Trump Accounts” for qualifying children of U.S. employees, aligning with a wider wave of major employers backing the proposed initiative. (Reuters)
The bank’s structured-notes engine is still humming. A recent SEC filing revealed terms for “uncapped accelerated barrier notes” tied to an S&P 500 futures-based index, set to price on February 13 and mature in February 2031 — the kind of capital-markets plumbing that usually leaves the common stock unmoved on a daily basis.
Bank investors can pivot fast when the macro backdrop shifts. A spike in inflation or rising yields might boost lending margins, but they often squeeze financial conditions, dampen deal flow, and strain borrowers — the outcome is seldom straightforward.
Investors will focus on the U.S. January jobs report set for Feb. 6 at 8:30 a.m. ET. This data frequently shifts expectations around rate cuts and can ripple through bank stocks via the yield curve. (Bureau of Labor Statistics)
JPMorgan’s next key event is its company update in New York on Feb. 23 at 4:30 p.m. ET. Investors will be tuned in for any changes in management’s outlook on the economy and interest rates. (Jpmorganchase)
