Ultime notizie per JPMorgan Chase (NYSE:JPM) Azioni

JPMORGAN CHASE & CO

JPMorgan Chase

JPMorgan Chase is one of the largest and most complex financial institutions in the United States, with nearly $4 trillion in assets. It is organized into four major segments: consumer and community banking, corporate and investment banking, commercial banking, and asset and wealth management. JPMorgan operates, and is subject to regulation, in multiple countries.

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Titoli bancari sotto i riflettori: JPMorgan e altri 4 nomi da seguire oggi

JPMorgan Chase & Co

JPMorgan USD Emerging Markets Sovereign Bond ETF

JPMorgan Diversified Return U.S. Mid Cap Equity ETF

Tidal Trust II YieldMax JPM Option Income Strategy ETF

J P Morgan Chase & Co Depositary Shares, each representing a 1/400th interest in a share of 6.00% Non-Cumulative Preferred Stock, Series EE

J P Morgan Chase & Co Depositary Shares, each representing a 1/400th interest in a share of 5.75% Non-Cumulative Preferred Stock, Series DD

J P Morgan Chase & Co Depositary Shares, each representing a 1/400th interest in a share of JPMorgan Chase & Co. 4.75% Non-Cumulative Preferred Stock, Series GG

J P Morgan Chase & Co Depositary Shares, each representing a 1/400th interest in a share of 4.55% Non-Cumulative Preferred Stock, Series JJ

J P Morgan Chase & Co Depositary Shares, each representing a 1/400th interest in a share of 4.625% Non-Cumulative Preferred Stock, Series LL

J P Morgan Chase & Co Depositary Shares, each representing a 1/400th interest in a share of 4.20% Non-Cumulative Preferred Stock, Series MM

JPMorganChase Today Launched The JPMorganChase Center For Geopolitics, A Client Advisory Service That Will Harness The Company's Unparalleled Network, Expertise, And Resources To Help Clients Successfully Navigate The Increasingly Complex Global Business Landscape

JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) CEO Jamie Dimon, who correctly flagged trouble before the 2008 Lehman Brothers collapse, is now cautioning that Wall Street&#8217;s expectations for S&amp;P 500, tracked by SPDR S&amp;P 500 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) earnings growth could plummet from 12% to 0% as tariff impacts ripple through the economy.
What Happened: &#8220;I think earnings estimates will come down, which means PE [Price-to-Earnings&nbsp;ratio] will come down,&#8221; Dimon said at the bank&#8217;s annual investor day, suggesting equity valuations face downward pressure. He described current asset prices as &#8220;kind of high&#8221; while credit spreads remain &#8220;kind of low.&#8221;
Hedge fund manager Dan Niles highlighted Dimon&#8217;s track record on X, noting, &#8220;Dimon warned of an economic &#8216;hurricane&#8217; in June of 2022 before the banking crisis in March of 2023.&#8221; Niles emphasized JPMorgan&#8217;s unique perspective, writing, &#8220;With $4.4 trillion in assets, JPM has more granular data on the health of the U.S. economy than almost anyone.&#8221;
&#8220;I continue to believe that the holidays will be a much rougher time for markets,&#8221; Niles wrote. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Yesterday, <a href="https://twitter.com/search?q=%24JPM&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$JPM</a> CEO Jamie Dimon said he believes Wall Street estimates for S&amp;P earnings growth will go to 0% from 12% to start the year as the impact of tariffs work through the economy "which means PE will come down." He also said asset prices are "kind of high" and credit…
&mdash; Dan Niles (@DanielTNiles) <a href="https://twitter.com/DanielTNiles/status/1924902062283784681?ref_src=twsrc%5Etfw">May 20, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Next: <a href="https://www.benzinga.com/25/05/45534527/china-warns-of-legal-retaliation-against-us-chip-sanctions-threatens-lawsuits-for-aiding-discriminatory-tech-crackdown">China Warns Of Legal Retaliation Against US Chip Sanctions, Threatens Lawsuits For Aiding &#8216;Discriminatory&#8217; Tech Crackdown</a>
Why It Matters: Dimon&#8217;s concerns extend beyond earnings, as he warned of &#8220;huge deficits&#8221; and &#8220;almost complacent central banks.&#8221; He believes markets display &#8220;an extraordinary amount of complacency&#8221; despite <a href="https://www.benzinga.com/news/management/25/05/45508514/jpmorgan-ceo-jamie-dimon-warns-huge-deficits-complacent-central-banks-could-lead-to-stagflation">mounting risks from tariffs and geopolitical tensions</a>, putting the odds of stagflation at &#8220;roughly double&#8221; what markets anticipate.
Despite these warnings, Goldman Sachs recently raised its S&amp;P 500 12-month target to 6,500 while reducing recession odds to 35%, citing the Trump administration&#8217;s decision to <a href="https://www.benzinga.com/economics/macro-economic-events/25/05/45379707/sp-500-to-6500-goldman-sachs-trims-recession-odds-as-trump-backs-off-on-tariffs">pause retaliatory tariffs for 90 days</a>.
JPMorgan&#8217;s chief global strategist, David Kelly, maintains the U.S. economy will likely avoid recession but expects slower growth due to tariffs and other economic factors <a href="https://www.benzinga.com/markets/25/05/45485111/jpmorgan-chase-us-economy-likely-to-skirt-recession-forecasts-sluggish-growth">potentially squeezing consumer spending</a>.
Since taking the helm in 2005, Dimon has led JPMorgan to a total return of 1,012%, including dividends, surpassing the S&amp;P 500's 596% gain and even outpacing the Nasdaq's 971% rise.
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: lev radin / Shutterstock.com

Equities

Economics

Jamie Dimon, Who Flagged Trouble Before 2008 Lehman Brothers Collapse, Now Warns S&P Earnings Could Fall To 0%: 'Rougher Time For Markets,' Says Dan Niles

Goldman Sachs analyst Richard Ramsden raised the price forecast on JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) from $276 to $303, while reiterating a Buy rating following <a href="https://www.benzinga.com/quote/JPM/analyst-ratings" target="_blank" rel="noreferrer noopener">its investor day on Monday</a>.
CEO&nbsp;Jamie Dimon warned that markets are displaying an &#8220;extraordinary amount of complacency&#8221; in the face of mounting risks from tariffs, record <a target="_blank" href="https://www.benzinga.com/news/management/25/05/45508514/jpmorgan-ceo-jamie-dimon-warns-huge-deficits-complacent-central-banks-could-lead-to-stagflation" rel="noreferrer noopener">U.S. deficits&nbsp;and geopolitical tensions</a>.
Also, JPMorgan reaffirmed its 2025 expense and net interest income guidance, projecting $90 billion in core lending revenue with an additional $4.5 billion possible from trading,<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener"> depending on market conditions</a>.
The bank expects investment banking fees to drop by a &#8220;mid-teens&#8221; percentage in the second quarter compared to last year, reflecting a slowdown in dealmaking as corporate clients adopt a cautious, wait-and-see approach.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45501880/jamie-dimon-opens-jpmorgan-to-bitcoin-access-despite-longstanding-criticism" target="_blank" rel="noreferrer noopener">Jamie Dimon Opens JPMorgan To Bitcoin Access Despite Longstanding Criticism</a>
The analyst writes that he believes the bank has outlined a compelling strategy for long-term growth, based on market share gain across all its essential business segments and operational efficiency.
A particularly notable element is the company&#8217;s ambitious vision for CCB, indicating significant room to strengthen its position in card, consumer, and business banking, despite its already considerable market presence, adds the analyst.
Additionally, Ramsden says that the bank consistently reiterates its substantial excess capital, which it intends to allocate toward both organic expansion and potential acquisitions, boosting the balance sheet and providing higher returns to shareholders over time.
Consequently, the analyst lowered its EPS estimates in 2026E/27E by 1%.
JPM Price Action: JPMorgan Chase shares are up 0.098% at $265.13 at publication on Tuesday.
Read Next:
 • <a href="https://www.benzinga.com/25/05/45522993/jpmorgan-stock-seen-as-top-buy-after-investor-day-says-analyst" target="_blank" rel="noreferrer noopener">JPMorgan Stock Seen As Top Buy After Investor Day, Says Analyst</a>

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Goldman Sachs Bets On JPMorgan, Praises Market Share Gains, Efficiency

JP Morgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>)'s investor day struck the right tone for Wall Street, with Bank of America calling the stock a top buy and lifting its price target to $300 as the bank doubled down on return efficiency, capital <a href="https://www.benzinga.com/25/05/45453976/jp-morgans-investor-day-looms-why-this-could-set-the-stocks-next-move">deployment, and CEO stability.</a>
"Investor day provided plenty for the Street to like," said the bank&#8217;s analyst Ebrahim Poonawala in a note Tuesday.
The expert lifted the stock&#8217;s price objective from $281 to $300, implying a 13% upside from current levels. He now sees 2025 and 2026 earnings per share at $18.30 and $20.70, up from $18.10 and $20 previously.
<h3 class="wp-block-heading">CEO Succession Risk Now On The Backburner</h3>
The single biggest overhang for JPMorgan's stock—CEO succession—may have just eased. CEO Jamie Dimon said, "If I&#8217;m here for four more years and maybe two or three as executive chair&#8230; that's a long time," signaling no imminent departure.
Poonawala said this clarity should help remove "the single biggest idiosyncratic risk factor debated by investors," based on client conversations.
<h3 class="wp-block-heading">Capital Deployment Through M&amp;A Gaining Traction</h3>
While JPMorgan has traditionally favored share buybacks over large-scale M&amp;A, the tone shifted subtly during the investor day. Management appeared more open to strategic acquisitions, particularly in wealth management, private banking, payments, and international markets.
With an estimated $57 billion in excess capital, JPMorgan has the firepower to pursue growth opportunities—though transformational deals remain unlikely. 
The analyst described this flexibility as a key part of the bank's attractive risk/reward profile, particularly amid a more balanced regulatory environment.
<h3 class="wp-block-heading">Efficiency Push May Reset Cost Trajectory</h3>
Poonawala highlighted management's continued push for cost efficiency as another reason for optimism. With tech investment near peak levels and headcount growth under tighter control. 
&#8220;This could reset core expense growth to low single digits from mid-to-high in recent years, further boost&nbsp;the ROE&nbsp;profile,&#8221; Poonawala said. 
Shares of JPMorgan Chase traded 0.4% higher to $266 on Tuesday. 
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JPMorgan Stock Seen As Top Buy After Investor Day, Says Analyst

Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) has hit $105,125, <a href="https://www.benzinga.com/money/how-to-buy-bitcoin-btc-best-bonuses-august-2024">a 2.8% jump in the past 24 hours</a>. The rise came as cryptocurrencies are gaining acceptance in traditional finance and an influx of institutional money could push Bitcoin's price further.
JP Morgan Chase &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) made the decision to offer Bitcoin access to its wealth management clients as its CEO, Jamie Dimon, has recognized a growing appetite for digital assets.&nbsp;
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Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>) to discuss with regulators ways to allow crypto safely. The bank would ask financial advisors to bring ideas on spotting bitcoin exchange-traded funds to make them available for qualified customers.&nbsp;
JP Morgan has predicted that Bitcoin is ready to outperform gold in 2025. According to The Defiant, Bitcoin will witness upside in the 2nd half of the year.&nbsp;
Bitcoin is surging toward a $106,000 mark. The rally is fueled by renewed investor confidence, and increased institutional activity, and recent regulatory news. Bitcoin is trying to break through some resistance. The market is looking positive, which may give a solid crypto bull market.
DigiAsia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FAAS#NASDAQ">FAAS</a>), a fintech company, announced they're planning to raise $100 million to invest in Bitcoin. DigiAsia confirmed its board of directors have passed the decision to build a Bitcoin treasury reserve.&nbsp;
DigiAsia has also initiated talks on BTC yield strategies and treasury reserve management with BTC's regulated partners. The company is analysing capital markets solutions, which include convertible notes, equity-linked offerings, and structured crypto finance instruments.
BlackRock Inc's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>) Bitcoin ETF is holding over $6.5 billion in assets and hitting $3 billion in daily trading volume.
The institutional adoption is giving regular investors a way to get into Bitcoin in a regulated manner. Almost 50% of the inflows are shared to iShares Bitcoin Trust. The net inflow has reached up to $45.9 billion. The ETF's popularity highlights the demand for compliant Bitcoin investment options.&nbsp;
Bitcoin has also seen some pullbacks due to mixed signals in the economy and some investor caution. There are uncertainties about interest rates and liquidity of assets. Bitcoin has held its ground better than smaller altcoins. Long-term holders see these short-term dips as a chance to buy more.&nbsp;
Jack Dorsey, founder of X, formerly Twitter, proposed rebranding Bitcoin. It moves away from the name of its mysterious creator, "Satoshi." Bitcoin has up to 100,000,000 sats or satoshis at present.
The tweet gained over 1 million views including promoting posts for BIP 177.&nbsp; John Carvalho, a software developer, has sent a Bitcoin Improvement Proposal, titled "Redefine Bitcoin&#8217;s Base Unit." The proposal shifts the display of Bitcoin's quantities and removes the leading zeros and decimal points.
The recent surge in Bitcoin&#8217;s price seems to be a mix of big players getting involved, some whales stashing their coins, and a few good vibes from regulators. A bright picture is being painted for Bitcoin's future in the market.
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Bitcoin Soars To $105,125 Amid Institutional Investments, X Founder Proposes BTC Rebrand

TD Securities analyst Steven Alexopoulos maintains JPMorgan Chase (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) with a Buy and raises the price target from $305 to $315.

TD Securities Maintains Buy on JPMorgan Chase, Raises Price Target to $315

Piper Sandler analyst Scott Siefers maintains JPMorgan Chase (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) with a Overweight and raises the price target from $260 to $295.

Piper Sandler Maintains Overweight on JPMorgan Chase, Raises Price Target to $295

RBC Capital analyst Gerard Cassidy maintains JPMorgan Chase (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) with a Outperform and raises the price target from $255 to $285.

RBC Capital Maintains Outperform on JPMorgan Chase, Raises Price Target to $285

Morgan Stanley analyst Betsy Graseck maintains JPMorgan Chase (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) with a Equal-Weight and raises the price target from $235 to $236.

Morgan Stanley Maintains Equal-Weight on JPMorgan Chase, Raises Price Target to $236

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul class="wp-block-list">
<li>D. Boral Capital cut Reviva Pharmaceuticals Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RVPH#NASDAQ">RVPH</a>) price target from $8 to $3. D. Boral Capital analyst Jason Kolbert maintained a Buy rating. Reviva Pharmaceuticals shares closed at $0.8900 on Monday. <a href="https://www.benzinga.com/quote/RVPH/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Jefferies raised the price target for ZIM Integrated Shipping Services Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZIM#NYSE">ZIM</a>) from $16 to $17. Jefferies analyst Omar Nokta maintained a Hold rating. ZIM Integrated Shipping shares closed at $19.37 on Monday.<a href="https://www.benzinga.com/quote/ZIM/analyst-ratings"> See how other analysts view this stock.</a></li>
<li>Loop Capital cut MongoDB, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDB#NASDAQ">MDB</a>) price target from $350 to $190. Loop Capital analyst Yun Kim downgraded the stock from Buy to Hold. MongoDB shares closed at $189.01 on Monday. See how other <a href="https://www.benzinga.com/quote/MDB/analyst-ratings">analysts view this stock</a>.</li>
<li>Citigroup raised the price target for Air Lease Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AL#NYSE">AL</a>) from $45 to $68. Citigroup analyst Kevin Crissey upgraded the stock from Neutral to Buy. Air Lease shares closed at $57.14 on Monday. <a href="https://www.benzinga.com/quote/AL/analyst-ratings">See how other analysts view this stock.</a></li>
<li>UBS slashed the price target for Mettler-Toledo International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTD#NYSE">MTD</a>) from $1,530 to $1,350. UBS analyst Dan Leonard upgraded the stock from Neutral to Buy. Mettler-Toledo International shares closed at $1,159.10 on Monday. <a href="https://www.benzinga.com/quote/MTD/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Wells Fargo cut Westlake Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WLK#NYSE">WLK</a>) price target from $95 to $76. Wells Fargo analyst Michael Sison downgraded the stock from Overweight to Equal-Weight. Westlake shares settled at $79.94 on Monday. <a href="https://www.benzinga.com/quote/WLK/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Canaccord Genuity raised Spotify Technology S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) price target from $700 to $775. Canaccord Genuity analyst Maria Ripps maintained a Buy rating. Spotify shares closed at $664.62 on Monday. <a href="https://www.benzinga.com/quote/SPOT/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Barclays boosted Urban Outfitters, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/URBN#NASDAQ">URBN</a>) price target from $59 to $73. Barclays analyst Adrienne Yih maintained an Overweight rating. Urban Outfitters shares closed at $61.42 on Monday.  <a href="https://www.benzinga.com/quote/URBN/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Keybanc increased the price target for Ollie&#8217;s Bargain Outlet Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OLLI#NASDAQ">OLLI</a>) from $125 to $135. Keybanc analyst Bradley Thomas maintained an Overweight rating. Ollie&#8217;s Bargain Outlet shares settled at $120.75 on Monday. <a href="https://www.benzinga.com/quote/OLLI/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Baird raised JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) price target from $220 to $235. Baird analyst David George maintained a Neutral rating. JPMorgan shares closed at $264.88 on Monday. <a href="https://www.benzinga.com/quote/JPM/analyst-ratings">See how other analysts view this stock</a>.</li>
</ul>
Considering buying SPOT stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="598" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/20090508/image-249-1024x598.png" alt="" class="wp-image-921252" style="width:608px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/20090508/image-249-1024x598.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/20090508/image-249-300x175.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/20090508/image-249-768x449.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/20090508/image-249.png 1116w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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OLLI

RVPH

SPOT

URBN

Spotify To Rally More Than 16%? Here Are 10 Top Analyst Forecasts For Tuesday

Baird analyst David George maintains JPMorgan Chase (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) with a Neutral and raises the price target from $220 to $235.

Baird Maintains Neutral on JPMorgan Chase, Raises Price Target to $235

A professor from the Wharton Business School has suggested that tariffs implemented by President Donald Trump are likely to continue despite political opposition.
What Happened: Professor Joao Gomes of the Wharton Business School, in a <a href="https://knowledge.wharton.upenn.edu/podcast/wharton-business-daily-podcast/the-trade-war-playbook-tariffs-uncertainty-and-u-s-economic-policy/">podcast, </a>The Trade War Playbook: Tariffs, Uncertainty, and U.S. Economic Policy, stated that both Democrats and Republicans are likely to support tariffs due to their potential to generate revenue.
&#8220;I&nbsp;think the end game is&nbsp;some tariffs are here to&nbsp;stay,&#8221; Gomes said, adding that they are &#8220;addictive for every country in&nbsp;the world.&#8221; He further suggested that the nature and extent of these tariffs are uncertain but they are &#8220;definitely not a thing of&nbsp;the past.&#8221;
"The truth is governments need revenues and once you see the amount of revenue the tariffs bring, I think Democrats will be addicted to them as Republicans—or are as likely to be,"&nbsp;explained Professor Gomes.
While the British government has secured a &#8216;first mover&#8217;&nbsp;deal with the Trump administration, Gomes stated that the number of such deals to be made remains uncertain.
SEE ALSO:&nbsp;<a href="https://benzinga.com/markets/cryptocurrency/25/05/45489390/crypto-traders-who-secured-a-dinner-with-donald-trump-walked-away-with-major-profits-says-" target="_blank" rel="noreferrer noopener">Crypto Traders Who Secured A Dinner With Donald Trump Walked Away With Major Profits, Says Analysis</a>
Why It Matters: Analysts are now exploring the potential for targeted tariffs on particular industries or products. In a recent note, UBS Group AG indicated that such measures could be implemented as soon as this summer, following trade investigations into key sectors such as pharmaceuticals, critical minerals, lumber, copper, and semiconductors.
Trump&#8217;s steep tariffs on countries have received widespread criticism from Democrats and major economists. On Monday,  JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) CEO Jamie Dimon cautioned the market <a href="https://www.benzinga.com/news/management/25/05/45508514/jpmorgan-ceo-jamie-dimon-warns-huge-deficits-complacent-central-banks-could-lead-to-stagflation">about </a>displaying an &#8220;extraordinary amount of complacency&#8221; amid the risks posed by tariffs, record U.S. deficits and geopolitical tensions.
However, U.S. Treasury Secretary Scott Bessent dismissed concerns over the inflationary impact of tariffs on companies such as Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>). Meanwhile, former PIMCO CEO and current Allianz's chief economic adviser, <a href="https://www.benzinga.com/markets/25/05/45491438/mohamed-el-erian-says-era-of-us-exceptionalism-is-paused-but-not-over-yet-too-early-to-say-if-the-damage-inflicted-is-irreversible">Mohamed El-Erian</a>, has suggested that the era of U.S. exceptionalism is on pause due to tariff wars and economic uncertainty, but it&#8217;s not over. He believes it&#8217;s too early to say if the damage inflicted is irreversible.
<ul class="wp-block-list">
<li>READ MORE:&nbsp;<a href="https://benzinga.com/markets/25/05/45494205/donald-trump-once-said-economy-does-better-under-the-democrats-slammed-pretty-bad-disasters-by-republican" target="_blank" rel="noreferrer noopener">Donald Trump Once Said &#8216;Economy Does Better Under The Democrats&#8217; Slammed &#8216;Pretty Bad Disasters&#8217; By Republicans: &#8216;It Shouldn&#8217;t Be That Way&#8217;</a></li>
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

'Addictive' Trump Tariffs Are 'Here To Stay' Even If Democrats Come Back To Power, Says Wharton Professor: 'The Truth Is Governments Need Revenues'

Artificial intelligence may not steal your paycheck, but it will raid your job description, warns Chris Hyams, the CEO of popular job-search platform Indeed.
What Happened: &#8220;The good news is that there's not a single job anywhere that AI can perform all of the skills required for that job,&#8221; Hyams <a href="https://fortune.com/2025/05/19/indeed-ceo-chris-hyams-ai-job-openai/">told</a> Fortune's Workplace Innovation Summit. &#8220;It doesn't mean it won't replace workers, but AI can't completely replace a job.&#8221;
Hyams' team found that "for about two-thirds of all jobs, 50% or more of those skills are things that today's generative AI can do reasonably well, or very well." The study, which dissected roughly two million postings skill by skill, highlights his blunt takeaway that "pretty much every job is going to change if it's not changing already."
The upheaval could come fast. Hyams predicted that "over the next three years" a handful of occupations will experience "30 years of change," forcing workers and hirers alike to "adapt very, very quickly." Indeed is already leaning in with Pathfinder, an AI "talent agent" slated for 2025 that matches candidates to openings even when résumés miss obvious keywords.
See also:<a href="https://www.benzinga.com/markets/equities/25/05/45510847/jensen-huang-satya-nadella-tout-40x-speed-up-in-azure-powered-ai-as-microsoft-nvidia-deepen-supercomputing-alliance"> Jensen Huang, Satya Nadella Tout &#8217;40x Speed-Up&#8217; In Azure-Powered AI As Microsoft, Nvidia Deepen Supercomputing Alliance</a>
OpenAI Chief People Officer Julia Villagra echoed the call for flexibility, urging companies to "start changing the way we talk about job replacement" and embrace "a reimagination of jobs" rather than doom-scrolling automation headlines.
What Happened: A McKinsey study, which dates back to 2023, predicts that AI&#8217;s onset will necessitate around <a href="https://www.benzinga.com/news/23/08/33591072/12-million-us-workers-may-need-to-switch-jobs-by-2030-due-to-ai-study">12 million job switches</a> and potentially automate 30% of the hours worked in the U.S. economy by 2030. Economists, meanwhile expect AI to jostle as many as <a href="https://www.benzinga.com/opinion/25/04/44587953/will-ai-replace-us-or-redefine-us?">300 million full-time roles</a>, yet most see a shuffle of tasks rather than wholesale layoffs.
Microsoft (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) CEO Satya Nadella argues that <a href="https://www.benzinga.com/news/25/03/44066026/satya-nadella-says-ai-agents-will-replace-knowledge-work-but-theres-one-role-humans-will-always-need-to-play">AI will overhaul</a> "knowledge work," not eliminate "knowledge workers," by offloading drudgery so humans can focus on higher-level tasks, echoing past shifts like fax giving way to email. His outlook is supported by Microsoft data showing 75% of global knowledge workers already use AI (nearly half adopted it within six months) and by real-world moves such as JPMorgan Chase (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) deploying AI to automate client briefings and legal paperwork.
Photo Courtesy: Andrey_Popov on Shutterstock.com
Read next: <a href="https://www.benzinga.com/25/05/45510862/apple-unwittingly-powered-the-rise-of-huawei-xiaomi-oppo-and-vivo-says-apple-in-china-authorindia-pivot-a-decade-too-late">Apple Unwittingly Powered The Rise of Rivals Huawei And Xiaomi, Says &#8216;Apple In China&#8217; Author — India Pivot Also Fraught With This Peril</a>

Tech

Your Paycheck Won't Be Stolen By AI, But The Same Can't Be Said For Your Job Description: Expect 30 Years Of Change In Next 3 Years, Says Indeed CEO

JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) CEO Jamie Dimon delivered a sobering assessment of the economic landscape at the bank's annual investor day on Monday. 
The head of the nation's largest bank warned that markets are displaying an "extraordinary amount of complacency" in the face of mounting risks from tariffs, record U.S. deficits <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/05/45497403/is-the-dollars-global-reserve-role-at-risk-after-moodys-downgrade">and geopolitical tensions.</a>
The Details: Dimon cautioned that investors and central banks are underestimating the potential for persistent inflation and even stagflation. In fact, he said the odds of a stagflationary scenario are "roughly double" what people think, <a href="https://www.cnbc.com/2025/05/19/trump-tariffs-jpmorgan-chase-ceo-jamie-dimon.html">according</a> to CNBC. 
Read Next: <a href="https://www.benzinga.com/news/large-cap/25/05/45499101/big-short-legend-michael-burry-bets-big-on-lipstick-index-is-he-bracing-for-a-recession?utm_source=article">&#8216;Big Short&#8217; Legend Michael Burry Bets Big On Lipstick Index: Is He Bracing For A Recession?</a>
He noted that the full economic impact of tariffs has yet to be felt and predicted that earnings forecasts for S&amp;P 500 companies could fall to zero growth within six months, down from about 12% at the start of the year.&nbsp;
"I think earnings estimates will come down, which means PE will come down," Dimon said, signaling the potential for further declines in stock prices if corporate profits falter.
The JPMorgan CEO also pointed to the U.S. budget deficit after Moody's downgraded the country's<a href="https://www.benzinga.com/news/econ-s/25/05/45479078/moodys-downgrades-us-credit-rating-over-debt-deficit-concerns"> credit rating</a> last Friday, citing concerns over a sustained increase in government debt and interest payment ratios.&nbsp;&nbsp;
"We have huge deficits; we have what I consider almost complacent central banks," Dimon said.
"You all think they can manage all this. I don't think they can," he added.
Despite these headwinds, JPMorgan reaffirmed its 2025 expense and net interest income guidance, projecting $90 billion in core lending revenue with an additional $4.5 billion possible from trading, depending on market conditions.
However, the bank expects investment banking fees to drop by a "mid-teens" percentage in the second quarter compared to last year, reflecting a slowdown in dealmaking as corporate clients adopt a cautious, wait-and-see approach.
Dimon also addressed the bank's succession plans and reiterated his intention to step down as CEO within the next few years, but not offering a more specific timeline.&nbsp;
"If I'm here for four more years, and maybe two more [as executive chairman]," Dimon said, "that's a long time.
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Image:&nbsp;Shutterstock

Management

JPMorgan CEO Jamie Dimon Warns 'Huge Deficits,' 'Complacent Central Banks' Could Lead To Stagflation

BofA Securities analyst Ebrahim H. Poonawala on Monday <a href="https://www.benzinga.com/topic/banks" target="_blank" rel="noreferrer noopener">noted bank stocks</a> have staged a significant rebound versus April lows, led by global systemically important banks (G-SIBs), money center, investment banks and trust banks.
It is unclear to Poonawala whether customer activity during the second half of 2025 will match the optimistic expectations from pre-tariff days, but bank stock performance in recent weeks suggests the market expects an improving operating environment for the second half of 2025 and 2026.
The analyst said large-cap banks are trading at 10-11 times 2026 P/E and 1.6-1.8 times P/TBV (versus mid-teens ROTCEs).
Also Read: <a href="https://www.benzinga.com/25/04/44816274/goldman-sachs-analysts-slash-their-forecasts-after-q1-earnings" target="_blank" rel="noreferrer noopener">Goldman Sachs Analysts Slash Their Forecasts After Q1 Earnings</a>
His 3Rs thesis (rates, regulations and rebounding customer activity) is on firmer footing.
Poonawala noted the potential for further upside in bank stocks if the recession is avoided and customer activity picks up steam.
The analyst said dealogic data indicates a significant pick-up in investment banking (specifically ECM) activity over the last week.
Continuation of this trend should serve as a tailwind for capital markets-exposed banks, particularly Goldman Sachs Group, Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) and Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>), at which <a href="https://www.benzinga.com/quote/GS/analyst-ratings" target="_blank" rel="noreferrer noopener">the analyst expects</a> to see generalist investor interest to own these stocks on rebounding M&amp;A/IPO (same as in the November-February period), resilient trading and secular growth in wealth/private credit.
On wealth, he noted Morgan Stanley&#8217;s recent launch of &#8220;Power E&#x2A;Trade Pro,&#8221; which, in addition to appealing to active traders, offers a significant opportunity to attract advisory assets to the firm.
Poonawala <a target="_blank" href="https://www.benzinga.com/quote/MS/analyst-ratings" rel="noreferrer noopener">maintained Buy ratings on</a> Goldman Sachs and Morgan Stanley.
While CEO succession discussion on JPMorgan Chase &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) has centered on a handoff from CEO Jamie Dimon to his successor, the analyst noted that any signs (at investor day or over the coming months) that Dimon would stay in his current role as CEO (not just as Executive Chair) for two to three more years would be very bullish for its Buy-rated stock. As he noted, at 69 years old, Dimon is younger than several financial CEOs (such as those at BlackRock and Blackstone) and remains actively engaged in the role.
GS, MS Price Actions: Goldman Sachs stock is down 0.96% at $612.94 at last check Monday. Morgan Stanley is down 0.92 at $130.96%.
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Goldman, Morgan Stanley Set To Ride M&A, IPO Rebound, As Analyst Sees Upside In Wealth, Trading Gains

JPMorgan Chase (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) CEO Jamie Dimon, known for <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44294343/jamie-dimons-crypto-change-of-heart-trump-once-claimed-shift-but-jpmorgan-ceo-still-a-skeptic-when-it-comes-to-bitcoin">his repeated criticisms</a> of Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), acknowledged at the bank's investor day this week that the firm will now allow clients to buy the cryptocurrency, though it will not offer custody services.
What Happened: Dimon's remarks mark a shift in tone for the leader of the largest U.S. bank, <a href="https://www.theblock.co/post/354883/jamie-dimon-says-jpmorgan-will-allow-clients-to-buy-bitcoin-but-firm-will-not-custody-it?utm_source=twitter&amp;utm_medium=social">according</a> to The Block.
Despite referring to Bitcoin as a "<a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42940832/jamie-dimon-says-hes-not-against-blockchains-but-trades-guns-on-bitcoin-again-it-has-no-intrinsic-value-i-just-dont-feel-great-about">Ponzi scheme</a>" as recently as January and maintaining he sees "no value" in it, the firm is adapting to rising institutional and retail demand for digital assets.
The CEO also remained skeptical about blockchain's long-term impact. 
"We've been talking about blockchain for 12 years, not much has happened, it ain't like AI," he said at a separate event in September 2024.
Although Dimon continues to distance himself from Bitcoin philosophically, his bank has become increasingly engaged with the broader blockchain sector. 
Last year, he acknowledged JPMorgan as <a href="https://www.benzinga.com/markets/cryptocurrency/25/02/44033154/jamie-dimon-was-a-believer-in-smart-contract-cryptos-long-before-jpmorgan-started-piling-on-ethereum-etfs-heres-what-he-said">a significant user</a> of blockchain technology, highlighting the firm&#8217;s involvement in various enterprise initiatives.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45498737/altcoin-rotation-is-coming-expert-says-will-eth-xrp-dogecoin-benefit">Altcoin Rotation Is Coming, Expert Says: Will ETH, XRP, Dogecoin Benefit?</a>
Why It Matters: The firm's evolving stance comes amid a broader policy shift in Washington.
The Trump administration has taken a more favorable view of digital assets, prompting more engagement from traditional financial institutions. 
Earlier this year, Federal Reserve Chair Jerome Powell said U.S. banks can serve crypto clients, provided they adequately manage the associated risks.
Still, regulatory concerns remain. 
In January, TD Cowen noted that banks are likely to maintain limited exposure to crypto due to ongoing worries around money laundering compliance and risk management frameworks.
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Image: Shutterstock

Jamie Dimon Opens JPMorgan To Bitcoin Access Despite Longstanding Criticism

Macro Economic Events

Global

Watching JP Morgan; CEO Jamie Dimon Reportedly Says There Is An Extraordinary Amount Of Complacency Over U.S. Debt, Trade Policies; Banking Supervisors Went "Far Beyond What Was Reasonable"; Industry Will Have Opportunity To Dispute Supervisory Activity

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Guidance

Watching JP Morgan; Consumer And Community Banking CEO Marianne Lake Reportedly Says Credit Costs Remain In Line With Our Expectation For 2025; Consumers And Small Businesses Remain Resilient,  Consumer Confidence And Small Business Sentiment Have Worsened; We Expect Stronger Loan Growth Of 8% Or More For Credit Cards; Headcount Could Trend Down By 10% Over Next Five Years In Consumer Banking; We Have A Long Term Ambition To Double Wealth Management Business And Reach $2T In Total Client Assets

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