JPMorgan Chase Expenses Surge, Unemployment Predicted to Rise
Update: 2025-12-09
Description
JPMorgan Chase stock plummeted over four percent on Tuesday, marking the biggest drop on the Dow Jones Industrial Average, following warnings from executive Marianne Lake about significant expense increases in 2026. The surge in costs is primarily due to intense credit card market competition and AI technology investments. Lake anticipates total expenses to reach $105 billion next year, higher than previous estimates, driven by growth, volume-related costs, and strategic investments. She also noted the resilience of US consumers and small businesses, but warned of a more fragile economic environment and potential unemployment increase. Despite challenges, JPMorgan expects modest increases in investment banking fees and market business. The banks deposit growth might slow due to fewer interest rate cuts, but higher rates could lead to better profit margins.
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