JPMorgan shares plummet 4.19% pre-market on weak Q4 investment banking results

JPMorgan Chase & Co. shares plummeted 4.19% in pre-market trading on Jan. 14, 2026, signaling investor unease following the bank’s fourth-quarter earnings report.

The decline stemmed from weaker-than-expected investment-banking fees, which fell 5% year-over-year to $2.35 billion, missing the firm’s prior guidance for low-single-digit growth. Debt-underwriting revenue, a key driver for the unit, dropped 2%—contrary to analysts’ forecasts for a 19% increase. The shortfall highlighted broader challenges in corporate financing activity, despite a generally strong market environment ahead of year-end.

Profitability also took a hit, with net income falling 7% to $13 billion, partly due to a $2.2 billion provision for potential loan losses tied to its Apple Card partnership. However, the bank offset some of these pressures with robust trading revenue, which surged to $8.24 billion, outperforming even the highest analyst estimates. This performance underscored resilience in markets and fixed-income trading amid a volatile end-of-year backdrop.

As the largest U.S. bank to report earnings this cycle, JPMorgan’s results set a mixed tone for the sector. While investment banking disappointed, stronger trading and steady loan growth—up 4% in the final quarter—provided a buffer. The bank’s 2026 outlook remains anchored by projected $103 billion in net interest income, reflecting continued confidence in its lending momentum.