NEW YORK, Jan 10, 2026, 10:07 (EST) — Market closed
- JPMorgan shares ended Friday down 0.2% at $329.19.
- The bank is due to post quarterly results on Tuesday before the bell, with a management call at 8:30 a.m. ET.
- Investors are also weighing Venezuela headlines and dealmaking chatter into earnings week.
JPMorgan Chase & Co (JPM.N) reports fourth-quarter results on Tuesday, after the bank said it will publish the numbers around 7 a.m. ET and hold an earnings call at 8:30 a.m. ET. Shares ended Friday down 0.2% at $329.19 as U.S. markets closed for the weekend.
The timing is awkward, and that’s the point. Big-bank results arrive just as investors brace for a fresh U.S. Consumer Price Index reading, a key inflation gauge, that could reset bets on how much the Federal Reserve can still cut this year. “The banks are going to be telling you something that is going to be pretty important because they’re on the front lines,” said Jack Janasiewicz, a portfolio manager at Natixis Investment Managers, pointing to credit-card payment defaults as one place to look.
Markets are not exactly offering much cushion. The S&P 500 closed at a record on Friday after a jobs report showed employment growth slowed more than expected, even as the unemployment rate fell to 4.4%, Reuters reported. The benchmark is trading at about 22 times expected earnings, above its five-year average of 19, according to LSEG data cited by Reuters.
JPMorgan also heads into the week with a fresh geopolitical wrinkle in the mix. A Reuters report late Friday said U.S. banks are eyeing possible business tied to Venezuela’s oil sector as Washington plans to selectively roll back sanctions, with JPMorgan seen as having an edge because it kept a dormant office in Caracas that could be reactivated as needed. “JPMorgan is among the very few U.S. banks with an office in Venezuela, though activity is minimal due to current restrictions,” said María Paola Figueroa, head of Frontier Latin America research at the Institute of International Finance.
On the fee side, JPMorgan’s own dealmakers have been leaning into the message that CEOs are still willing to do big transactions, even with new shocks piling up. Anu Aiyengar, the bank’s global head of advisory and M&A, told Reuters she sees another strong year in 2026 with a record number of deals in the pipeline. “We are in a world where the level of shocks to the system and the sources of shocks to the system are very broad,” she said.
For Tuesday’s print, traders will listen for updates on net interest income — the gap between what a bank earns on loans and pays on deposits — along with credit costs in cards and consumer lending, and any shift in expense discipline. In December, consumer and community banking chief Marianne Lake said the bank expected 2026 expenses to climb to about $105 billion, a marker investors may revisit quickly if management leans into “investment” language again.
JPMorgan goes first, but the window to digest it is short. Citigroup, Bank of America and Wells Fargo are due Wednesday, followed by Goldman Sachs and Morgan Stanley on Thursday, Reuters noted in its weekly “Take Five” preview.
Technicals look stretched, if not broken. JPM is about 2.4% below a 52-week high of $337.25, and some traders treat that zone as near-term resistance. The stock sits above its 50-day moving average of about $314 and its 200-day average near $288, according to Yahoo Finance — two levels that often act as reference points when momentum fades.
But there’s a simple downside case: too much is priced for “clean” earnings. A hotter inflation print, a wobble in credit quality, or cautious talk on costs could hit a stock that is already trading close to its highs — and Venezuela-related opportunities may not turn into revenue quickly if sanctions and politics stay messy.
The next hard catalysts land Tuesday, Jan. 13: the U.S. CPI report and JPMorgan’s results before the open, followed by management’s call for clues on consumer credit and the cost curve.
