Wall Street Hits Record Highs Amid JPMorgan Earnings 2026 and Powell Investigation
Wall Street reaches new records as JPMorgan Chase beats Q4 earnings expectations. Explore the impact of the Jerome Powell investigation and Apple's new AI deal with Google.
Legal turmoil for the Fed chair couldn't stop the bulls from charging to new heights. Despite the news of a criminal investigation into Jerome Powell, the S&P 500 and Dow Jones Industrial Average both finished at new all-time highs on January 12, 2026.
JPMorgan Earnings 2026: A Strong Start to the Year
JPMorgan Chase kicked off the earnings season by surpassing analyst expectations on both top and bottom lines for the fourth quarter. According to CNBC, the bank's trading revenue came in stronger than forecasted, sending shares up approximately 1% in premarket trading. This performance sets a high bar for other financial giants like Goldman Sachs and Bank of America reporting later this week.
AI Deals and Geopolitical Tensions
Alphabet joined the exclusive $4 trillion market cap club following the announcement that Apple will use Google's Gemini models to power an upgraded Siri. Meanwhile, in the skies, Delta Air Lines shares fell 5% after a revenue miss, though CEO Ed Bastian projected a massive 20% profit jump for 2026. On the geopolitical front, Trump announced a 25% tariff on any country doing business with Iran, effective immediately.
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