美联储负责监管的副主席米歇尔·鲍曼概述了多项提议，包括放宽对抵押贷款服务资产的资本处理方 式，以及将贷款风险权重与贷款价值比挂钩。此举可能有利于摩根大通 （JPM） 和富国银行 （WFC） 等银行，同时给Rocket （RKT） 等非银行机构带来压力。 新浪合作大平台期货开户 安全快捷有保障 责任编辑：张俊 SF065 美联储负责监管的副主席米歇尔·鲍曼概述了多项提议，包括放宽对抵押贷款服务资产的资本处理方 式，以及将贷款风险权重与贷款价值比挂钩。此举可能有利于摩根大通 （JPM） 和富国银行 （WFC） 等银行，同时给Rocket （RKT） 等非银行机构带来压力。 新浪合作大平台期货开户 安全快捷有保障 责任编辑：张俊 SF065 ...

Core Insights - JPMorgan's loan book accelerated in Q4 2025, with significant growth in wholesale lending and credit cards, indicating a strategic focus on areas where the bank has scale advantages [1][2] Loan Growth and Composition - As of December 31, 2025, total loans reached $1.49 trillion, reflecting a 4% sequential increase and an 11% year-over-year growth, driven primarily by wholesale loans which rose 5% quarter-over-quarter and 17% year-over-year to $843.4 billion [2][9] - Within the consumer loan segment, credit card loans showed the strongest growth, increasing 5% sequentially and 6% year-over-year to $247.8 billion, while other consumer loans (excluding cards) grew modestly by 2% to $402.3 billion [3][9] Strategic Partnerships - In January 2026, JPMorgan signed an agreement to become the new issuer of Apple Card, which is expected to add approximately $20 billion in card balances to Chase, enhancing JPMorgan's presence in the U.S. card market [4] Interest Income and Projections - A lower interest rate environment is anticipated to boost borrowing and refinancing, supporting loan growth despite potential pressure on net interest income (NII). JPMorgan expects NII to reach approximately $103 billion in 2026, a 7.4% increase from $95.9 billion in 2025 [5] Peer Comparison - As of December 31, 2025, Bank of America reported total loans and leases of $1.17 trillion, up 8% year-over-year, with commercial loans growing 12% [6] - Citigroup's loans totaled $752 billion, with corporate loans growing 14% year-over-year, while consumer loans increased by 4% [7] Valuation and Earnings Estimates - JPMorgan shares have appreciated by 3.8% over the past six months, and the bank trades at a price-to-tangible book (P/TB) ratio of 2.98X, below the industry average [8][10] - The Zacks Consensus Estimate projects a 5.1% increase in JPMorgan's earnings for 2026, with a further growth rate of 7.6% expected for 2027 [11]

JP Morgan analysts hunt stocks 'unfairly' hit by AI-maggeddon panic Proactive uses images sourced from Shutterstock Analysts at JP Morgan have gone hunting for stocks that they believe have been unfairly punished by fears that AI will “disintermediate” entire business models. In a thematic note, the American bank said it had surveyed top-ranked research analysts to identify “mispriced stocks most insulated from AI disruption,” then worked with its Delta One team to package the picks into a dedicated rese ...

This story was originally published on Banking Dive. To receive daily news and insights, subscribe to our free daily Banking Dive newsletter. Bank of America agreed to pay CEO Brian Moynihan $41 million for 2025, the bank disclosed Friday. With that, a perhaps surprising trend has emerged among the six largest U.S.-based global systemically important banks: The longer a CEO has served, the lower his or her raise was in 2025, generally. Jamie Dimon, who has led JPMorgan Chase since 2006, received a 10.3% ...

Core Viewpoint - The decline in software stocks is a significant investment trend in 2026, with major SaaS companies facing substantial losses due to fears surrounding AI's impact on their business models [1][2]. Group 1: Software Stock Performance - The Nasdaq-100 index is down approximately 3% year to date, while the S&P 500 index remains relatively unchanged [1]. - Major software companies have seen significant declines: Microsoft is down 16%, Shopify down 26%, Adobe down 27%, and Salesforce down 30% [2]. Group 2: Investor Concerns - Investors are worried that advancements in AI could disrupt the enterprise software business model, leading to vulnerabilities for established software companies [2]. - There are two primary concerns: the potential disruption of the software industry by AI and the fear that AI hyperscalers are overspending on infrastructure without generating expected returns [5]. Group 3: J.P. Morgan's Analysis - J.P. Morgan's research suggests that the current sell-off in AI-driven software stocks is exaggerated and based on "broken logic" [3][6]. - The firm argues that if AI is truly set to disrupt software companies, then AI stocks should be more valuable, indicating a disconnect in market logic [6]. Group 4: Investment Opportunities - J.P. Morgan encourages investors to consider purchasing "AI-resilient" software stocks that are likely to benefit from AI enhancements in their workflows, viewing the current sell-off as an "overshoot" [8].

Core Viewpoint - The Trump Administration is pressuring credit card issuers to lower high-interest rates, with a proposed cap of 10% on credit card interest rates, which would require Congressional action to implement [1][4]. Group 1: Government Pressure and Legislative Context - White House trade advisor Peter Navarro publicly criticized credit card companies for charging interest rates as high as 30%, echoing President Trump's earlier call for a 10% cap on rates [1][2]. - The proposal to cap credit card interest rates faces significant opposition from the financial industry, which has historically resisted similar legislative efforts [4]. Group 2: Market Reaction - Following Navarro's statements, share prices of major credit card issuers declined significantly, with Bank of America down 8%, JPMorgan Chase down 6.9%, and Citigroup down 9.9% over the week [5]. - The performance of major card payment networks also suffered, with Visa falling 3.6% and Mastercard down 4.7% during the same period [6]. Group 3: Interest Rate Outlook - Despite the pressure on credit card issuers, the outlook for bank and financial industry stocks remains positive due to anticipated interest rate cuts by the Federal Reserve, which could benefit these stocks in the long term [7].

Market Overview - US equity-index futures showed a decline, with S&P 500 contracts dropping 0.4% and Nasdaq 100 Index contracts slipping 0.7%, indicating a cautious market sentiment following the Presidents' Day holiday [1] - Asian stocks fell by 0.1% amid thin trading conditions, with several markets closed for the Lunar New Year, while European shares were also expected to open weaker [2] Treasury and Bond Market - The yield on 10-year Treasury bonds decreased by two basis points to 4.03%, while demand for Japanese government bonds increased at a recent auction, signaling stabilization [3][7] Geopolitical Risks - Geopolitical risks have resurfaced, particularly concerning developments in the Middle East, as traders monitor the situation between the US and Iran, which has affected market sentiment [4][5] Federal Reserve and Economic Indicators - Investors are looking for insights into the Federal Reserve's interest rate trajectory, with key speeches and economic data releases scheduled, including ADP private payrolls and minutes from the Fed's January meeting [6] AI Market Impact - The impact of artificial intelligence (AI) has led to selling pressure across various sectors, with the S&P 500 down 0.1% year-to-date and the Nasdaq 100 down approximately 2% [8] - A JPMorgan Chase team has advised caution on stocks vulnerable to AI-driven "cannibalization," particularly in software, business services, and media sectors [8][9] Earnings Resilience - Current earnings season shows a growth rate of 13% for companies, contributing to a positive outlook for the S&P 500 despite the challenges posed by AI disruptions [10]

Core Viewpoint - Concerns regarding the impact of AI on Indian IT firms may be overstated, as these companies are positioned to benefit from increased demand for AI integration services [1][10]. Group 1: Market Dynamics - The Nifty IT Index has declined by 15% since the announcement of a new AI tool by Anthropic, marking its worst month since March 2020 [11]. - Indian IT firms, including Tata Consultancy Services and Infosys, have collectively lost $56 billion in market value due to fears surrounding AI's impact on their business models [10]. - Despite the downturn, some investors view the current stock decline as a potential buying opportunity, with resilient order flows reported in the industry [10][11]. Group 2: Adaptation and Resilience - Indian IT companies have a history of adapting to technological shifts, reskilling their workforce to meet client needs [2][10]. - Analysts argue that the software required to manage AI-generated information will continue to be essential, countering fears of obsolescence [6][11]. - Companies are increasingly discussing AI in earnings calls, with TCS reporting that AI solutions now generate $1.8 billion in annualized revenue, growing at approximately 17% quarter-on-quarter [11]. Group 3: Investor Sentiment - Investors, such as PPFAS Mutual Fund, believe that the sector can flexibly respond to changes brought by AI [1][2]. - The market is overlooking the financial strength of Indian IT firms, which possess large cash reserves and a young workforce capable of adapting to new technologies [9][10]. - The Nifty IT gauge is currently trading at 20 times forward earnings estimates, the lowest level since April 2023, indicating potential value for investors [10][11].

Core Viewpoint - Generating passive income through investments, particularly in dividend stocks and ETFs, is a primary goal for many investors, including beginners and retirees [2][3]. Group 1: ETFs Overview - Exchange-traded funds (ETFs) are professionally managed funds that invest in a diversified portfolio of dividend-paying stocks, providing a steady stream of income [3]. - Many top ETFs offer monthly dividends, with yields reaching up to 8% [3]. Group 2: JEPQ ETF Details - The JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) offers a high yield of 11.42% by investing in low-volatility Nasdaq 100 stocks and selling call options [7][8]. - JEPQ has $32 billion in assets under management and has generated a 3-year return of 89.11% [8]. - The ETF has an expense ratio of 0.35% and has consistently increased dividends for three consecutive years, recently announcing a dividend of $0.465 per share [9]. Group 3: Investment Strategy and Risks - JEPQ employs a covered call strategy, which involves writing call options on its holdings to generate additional income [4]. - The ETF's portfolio is heavily concentrated in the technology sector (41%), with significant holdings in major companies like Nvidia, Apple, and Microsoft [10]. - While JEPQ provides high yields, it also presents risks such as variable monthly income and underperformance in bull markets due to capped upside potential [4].

Core Insights - JPMorgan Chase has made a significant investment of $2.93 billion in Eli Lilly, highlighting its confidence in the GLP-1 revolution and the obesity treatment market [1][3] Company Performance - Eli Lilly has experienced substantial growth, with a 58% increase in stock value over the past six months, although it has seen a slight decline of about 3% since December 2025 [2] - In Q4 2025, Eli Lilly reported $19.3 billion in sales, a 43% year-over-year increase, and an adjusted EPS of $7.54, surpassing expectations [6] - The company's drugs, Mounjaro and Zepbound, generated nearly $7.4 billion and $4.3 billion in sales, respectively [7] Market Outlook - The global obesity drug market is projected to reach $100 billion by 2030, with Eli Lilly positioned as a leader in this sector [3][8] - Goldman Sachs estimates the anti-obesity drug market will grow to approximately $95 billion by 2030, while Morgan Stanley forecasts it could reach nearly $150 billion by 2035 [8]