Overview
- JPMorgan reported EPS of $4.63 after a $2.2 billion reserve tied to the Apple Card portfolio, with adjusted EPS of $5.23 topping estimates and revenue of $45.8 billion up 7% from a year ago.
- CEO Jamie Dimon called the economy resilient but said markets underappreciate hazards such as sticky inflation, elevated asset prices and complex geopolitical risks.
- The December Consumer Price Index is due Tuesday, followed by retail sales and housing data this week, as traders largely expect the Federal Reserve to hold rates steady later this month.
- Bank of America, Citigroup and Wells Fargo report Wednesday, with Goldman Sachs and Morgan Stanley on Thursday, and Taiwan Semiconductor’s results Thursday will offer a key read on AI-chip demand.
- Political and legal headlines are weighing on the sector, with the president pressing for a 10% cap on credit-card rates and Justice Department subpoenas involving the Federal Reserve drawing scrutiny to policy risk.