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| 14.01.26 00:06:22 |
Aktuelle Börsenlage: Dow, S&P 500 und Nasdaq-Termine fallen, Bankgewinne und Handelsurteil kommen. |
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**Haftungsausschluss: Der Text wurde mit Hilfe einer KI zusammengefasst und übersetzt. Für Aussagen aus dem Originaltext wird keine Haftung übernommen!**
**Zusammenfassung (Deutsch):**
US-Futures für Aktien sind am Mittwoch leicht gesunken und setzten eine Korrektur ein, die den Jones Industrial Average und den S&P 500 von ihren Rekordhöchstständen abwandte. Die Futures für den Dow (YM=F), den S&P 500 (ES=F) und den technologisch stark gewichteten Nasdaq 100 (NQ=F) sanken alle um rund 0,2%, getragen von den Schlussverlusten. Dieser Rückgang wurde durch mehrere Faktoren verstärkt. Erstens erwarten Investoren wichtige Gewinnzahlen von Großbanken – Bank of America, Wells Fargo und Citigroup – die am Mittwochvormittag veröffentlicht werden sollen. Zweitens wird die Veröffentlichung der Dezember-Produzentenpreisindex (PPI) genau beobachtet, um Hinweise auf die Inflationsentwicklung zu erhalten. Der enttäuschende Gewinnbericht von JPMorgan Chase am Dienstag trug zur Verkaufsdruck bei.
Zusätzlich zu diesen Schlagzeilen sorgt die bevorstehende Entscheidung des Obersten Gerichtshofs über die Tarifbefugnis von Präsident Trump, die Trump als eine nationale Sicherheitsfrage dramatisch dargestellt hat, für Unsicherheit am Markt. Darüber hinaus verstärkt die Kritik von Trump an dem Federal Reserve-Vorsitzenden Jerome Powell und eine anschließende Strafverfolgungsuntersuchung des Justizministeriums die Bedenken hinsichtlich der Unabhängigkeit der Fed. Schließlich hat Trumps Forderung nach einer 10%-igen Obergrenze für Kreditkartenzinsen negative Auswirkungen auf die Aktien von Zahlungsnetzbetreibern wie Visa und Mastercard.
Neben diesen Nachrichten gibt es auch globale Marktentwicklungen, wie ein Rückgang des chinesischen Index aufgrund einer erhöhten Margin-Anforderung und Silber, das neue Rekordhöhen erreicht.
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| 14.01.26 00:06:22 |
Wie sieht\\\'s heute an der Börse aus? Dow, S&P 500, Nasdaq Futures halten sich stabil, während die Banken Ergebnisse kommen und eine Tarifentscheidung bevorsteht. |
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**Haftungsausschluss: Der Text wurde mit Hilfe einer KI zusammengefasst und übersetzt. Für Aussagen aus dem Originaltext wird keine Haftung übernommen!**
**Zusammenfassung (Deutsch):**
US-Futures für Aktien blieben am Dienstagabend weitgehend unverändert, nachdem eine Korrektur die Gewinne aus Rekordhöhen für den Dow und den S&P 500 verringerte. Dow-Futures sanken leicht, während die Futures für den S&P 500 und den Nasdaq 100 knapp unter der Flatline blieben.
Die Marktaktivitäten des Tages wurden von bevorstehenden Unternehmensgewinnberichten dominiert, insbesondere von den großen Banken wie Bank of America, Wells Fargo und Citigroup, die am Mittwoch ihre Ergebnisse bekannt geben werden. Investoren werden auch die Dezember-Produktionspreisindex-Daten für Inflationszahlen prüfen. Der Rückgang der Aktien am Dienstag wurde durch einen enttäuschenden Gewinnbericht von JPMorgan Chase ausgelöst, was zu einem Verkauf seiner Aktien führte.
Zusätzlich zur Marktunsicherheit ist die Entscheidung des Obersten Gerichtshofs über die Herausforderung von Präsident Trump gegen seine Zollbefugnisse ein zentrales Thema. Das Gericht hat noch keine Entscheidung getroffen, aber ein potenzielles Entscheidungstermin ist letzte Woche ohne Änderung verstrichen. Trumps Rhetorik bezüglich des Falls, der ihn als Sicherheitsfrage darstellte, und seine verstärkte Kritik an dem Federal Reserve-Vorsitzenden Jerome Powell, einschließlich einer Untersuchung durch das Justizministerium, schufen weitere Ängste.
Darüber hinaus hat Trumps Forderung nach einem 10-prozentigen Limit für Kreditkartenzinsen Auswirkungen auf die Aktien von Zahlungsunternehmen wie Visa und Mastercard. Insgesamt navigiert der Markt durch eine komplexe Landschaft von Gewinnberichten, Wirtschaftsdaten und politischen Entwicklungen. |
| 14.01.26 00:06:22 |
Na, was geht ab mit der Börse heute? Dow, S&P 500, Nasdaq – die Futures fallen, und die Bankergebnisse kommen, plus die Tarifentscheidung schwebt noch über allem. |
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**Haftungsausschluss: Der Text wurde mit Hilfe einer KI zusammengefasst und übersetzt. Für Aussagen aus dem Originaltext wird keine Haftung übernommen!**
**Zusammenfassung (Deutsch):**
Die US-Leitfutures sanken am Dienstagmorgen nach einer Korrektur, die die Gewinne von Rekordhöchstständen aus dem Vortag umkehrte. Die Dow-Futures fielen um rund 0,3 %, während die S&P 500- und Nasdaq 100-Futures um 0,2 % sanken. Dieser Rückgang folgte auf eine ähnliche Entwicklung am Dienstag, die von der Performance des Dow angeführt wurde.
Der Fokus der Märkte verschiebt sich auf mehrere wichtige Ereignisse. Am Mittwoch werden die Zahlen der großen Banken – Bank of America, Wells Fargo und Citigroup – sowie der Veröffentlichung des Produzentenpreisindex für Dezember, ein wichtiger Inflationsmaß, veröffentlicht. Der enttäuschende Quartalsbericht von JPMorgan Chase am Dienstag schuf einen vorsichtigen Ton.
Zusätzlich zu den Bedenken im Inland ist die Entscheidung des Obersten Gerichtshofs bezüglich einer Herausforderung gegen die Tarifbefugnis von Präsident Trump ein Faktor. Trumps zunehmend deutliche Kritik an Federal Reserve-Vorsitzendem Jerome Powell, zusammen mit einer Untersuchung durch das Justizministerium, tragen ebenfalls zu den Ängsten über die Unabhängigkeit der Zentralbank bei. Darüber hinaus hat Trumps Forderung nach einer 10-prozentigen Obergrenze für Kreditkartenzinsen die Aktien von Visa und Mastercard beeinflusst.
Über die weltpolitischen Bedenken hinaus reagiert die Börse auf Nachrichten über China, insbesondere die Einführung einer 100-prozentigen Mindestmarginanforderung, und auf Entwicklungen im Edelmetallmarkt, wobei Silber einen Höchststand erreichte und Gold aufgrund der geopolitischen Unsicherheit die Nachfrage nach sicheren Anlagen erhöhte. |
| 13.01.26 23:39:43 |
Aktien fallen wegen schwacher Zahlen im Software- und Kreditkartondusektor. |
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**Haftungsausschluss: Der Text wurde mit Hilfe einer KI zusammengefasst und übersetzt. Für Aussagen aus dem Originaltext wird keine Haftung übernommen!**
**Zusammenfassung (maximal 600 Wörter)**
Am Dienstag gingen die Aktienkurse über die meisten wichtigen US-Indizes zurück, da Bedenken hinsichtlich Künstlicher Intelligenz (KI), Kreditkartenregulierung und der Unabhängigkeit der US-Notenbank zu einer vorsichtigen Haltung der Anleger führten. Der S&P 500, der Dow Jones und der Nasdaq 100 schlossen alle im Minus, während Staatsanleihen und europäische Staatsanleihen unterschiedliche Bewegungen zeigten.
Der Hauptgrund für den Rückgang der Märkte war die Vorstellung eines neuen KI-Tools durch Anthropic, was zu einem Verkaufsdruck in Softwareaktien führte. Insbesondere Salesforce, Adobe, Intuit, Workday, ServiceNow, Autodesk und Microsoft erlebten deutliche Einbrüche, die die Ängste widerspiegelten, dass KI die Kodierung in großem Umfang stören könnte.
Inflationsdaten boten zunächst Unterstützung, da die Dezember-Kernverbraucherpreise weniger als erwartet stiegen und Bedenken hinsichtlich außer Kontrolle geratener Inflation abnahmen. Gleichzeitig trugen steigende WTI-Ölpreise, die durch geopolitische Risiken – insbesondere durch erhöhten Druck aus den USA auf Iran und Drohanfällen gegen die Caspian Pipeline Consortium-Tanker – zu einem Anstieg der Ölwerte beitrugen.
Dennoch wirkten Bedenken hinsichtlich der Unabhängigkeit der US-Notenbank weiterhin belastend. Die Äußerungen von Fed-Vorsitzendem Powell bezüglich einer möglichen Untersuchung durch das Justizministerium über seinen Juni-Zeugenaussage über die Renovierung der Fed-Zentrale verstärkten die Unsicherheit und waren auf den Widerstand der Fed gegen die Forderungen von Präsident Trump nach niedrigeren Zinssätzen zurückzuführen.
Wirtschaftsdaten, die am Dienstag veröffentlicht wurden, ergaben ein gemischtes Bild. Die US-Neubauverkäufe für Oktober sanken leicht, während St. Louis Fed-Präsident Alberto Musalem Optimismus über die robuste US-Wirtschaft und eine Erwartung von über dem Potenzial liegenden Wachstum äußerte und sich gegen eine zu großzügige Politik der Fed aussprach.
In der Zukunft wird der Fokus des Marktes auf eine Woche voller Wirtschaftsdaten liegen, darunter der November-PPI-Endnachfrage, der Kern-PPI, die Einzelhandelsumsätze, die Neubauverkäufe und die Produktionsdaten der Industrie. Auch die bevorstehende Entscheidung des Obersten Gerichtshofs über die Gültigkeit der Zölle von Präsident Trump hat eine erhebliche Bedeutung.
Die Erwartungen für die Gewinnzahlen des Unternehmens werden mit der Veröffentlichung der Banken-Ergebnisse beginnen, wobei Bloomberg Intelligence einen Anstieg der S&P-Gewinne im vierten Quartal um 8,4 % prognostiziert, wobei die "Magnificent Seven"-Technologieaktien ausgeschlossen werden, die sich voraussichtlich um 4,6 % erhöhen werden. Die Markterwartungen für eine Zinssenkung der Fed stehen derzeit bei 3 % für eine 25-Basispunkt-Senkung bei der nächsten Sitzung am 27. und 28. Januar.
Die Märkte gingen am Dienstag in den folgenden Aktien zurück:
* Softwareaktien gingen am Dienstag aufgrund eines Vorabblicks auf ein neues Tool für eine KI-Startup-Firma zurück.
* Salesforce (CRM) fiel mehr als -7 %, was die größten Verlierer im S&P 500 und Dow Jones Industrials war.
* Adobe (ADBE) fiel um mehr als -5 % und Intuit (INTU) fiel um mehr als -4 %.
* Workday (WDAY) und ServiceNow (NOW) fielen um mehr als -3 %.
* Autodesk (ADSK) fiel um mehr als -2 % und Microsoft (MSFT) fiel um mehr als -1 %.
Kreditkartenunternehmen fielen am Dienstag erneut, nachdem Präsident Trump sagte, dass Kreditkarteninstitute "Gesetz verstoßen" würden, wenn sie Zinssätze von 10 % für ein Jahr nicht begrenzen. Visa (V) fiel mehr als -4 % und Mastercard (MA) und JPMorgan Chase (JPM) fielen mehr als -3 %.
Travere Therapeutics (TVTX) fiel um mehr als -14 %, nachdem das Unternehmen eine Anfrage der FDA erhalten hatte, um den klinischen Nutzen seiner Therapie für eine seltene Nierenerkrankung zu klären, was Analysten zufolge die Genehmigung der Behörde verzögern könnte.
Super Micro Computer (SMCI) fiel um mehr als -4 % nach einer Empfehlung von Goldman Sachs, den Aktien zu verkaufen.
CRH Plc (CRH) fiel um mehr als -3 % nach einer Abstufung der Aktie durch Wells Fargo Securities.
Synopsys (SNPS) fiel um mehr als -3 % nach einer Abstufung der Aktie durch Piper Sandler.
Chipotle Mexican Grill (CMG) fiel um mehr als -2 % nach der Ankündigung, dass Chris Brandt als Chief Brand Officer zurückgetreten ist.
Delta Air Lines (DAL) fiel um mehr als -2 % nach der Prognose, dass die Umsätze sinken würden. |
| 13.01.26 22:05:12 |
Visa und Mastercard Aktien fallen nach Trump-Unterstützung für Kreditkarten-Gesetz. |
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**Haftungsausschluss: Der Text wurde mit Hilfe einer KI zusammengefasst und übersetzt. Für Aussagen aus dem Originaltext wird keine Haftung übernommen!**
**Zusammenfassung:**
Die Aktien von Visa und Mastercard sanken am Dienstag erheblich, nachdem Präsident Trump seine Unterstützung für das „Credit Card Competition Act“ auf seiner Truth Social Plattform befürwortet hatte. Der Rückgang betrug jeweils 4,5% und 3,8%.
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| 13.01.26 18:34:41 |
Stock Indexes Slip as the Magnificent Seven Technology Stocks Retreat |
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**Haftungsausschluss: Der Text wurde mit Hilfe einer KI zusammengefasst und übersetzt. Für Aussagen aus dem Originaltext wird keine Haftung übernommen!**
The S&P 500 Index ($SPX) (SPY) is down -0.21%, the Dow Jones Industrials Index ($DOWI) (DIA) is down -0.55%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.26%. March E-mini S&P futures (ESH26) are down -0.22%, and March E-mini Nasdaq futures (NQH26) are down -0.25%.
Stock indexes gave up early gains and turned lower today on weakness in the Magnificent Seven technology stocks. Also, credit card companies are falling for a second day today to weigh on the overall market after President Trump said credit-card lenders would be “in violation of the law” if they don’t cap interest rates at 10% for one year. Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
Stocks moved higher briefly today as inflation concerns eased after US December core consumer prices rose less than expected. Also, energy-producing stocks are climbing today, with WTI crude oil up more than +3% at a 2.25-month high. Geopolitical risks are pushing crude oil higher as the US ratcheted up pressure on Iran after President Trump announced a 25% tariff on goods from countries “doing business” with Iran. In addition, drone attacks on oil tankers near the Caspian Pipeline Consortium terminal on Russia’s Black Sea Coast have reduced crude loadings at the terminal by almost half to around 900,000 bpd.
Stocks have some negative carryover from Monday on concerns about Fed independence, after Fed Chair Powell said the Justice Department was threatening a criminal indictment tied to his June testimony on Fed headquarters renovations, in retaliation for the Fed's refusal to go along with President Trump’s calls for lower interest rates.
US Dec CPI was unchanged from Nov at +2.7% y/y, right on expectations. Dec core CPI was also unchanged from Nov at +2.6% y/y, a smaller increase than expectations of +2.7% y/y.
US Oct new home sales fell 0.1% m/m to 737,000, beating expectations of 715,000.
St. Louis Fed President Alberto Musalem said the US economy is pretty robust, and he expects above-potential growth, and that it is unnecessary and unadvisable for the Fed to take an accommodative stance.
The market’s focus this week will be on economic news and any fresh news on the Federal Reserve. On Wednesday, Nov PPI final demand is expected to increase +2.7% y/y, and Nov core PPI is also expected to climb by +2.7% y/y. Also, Nov retail sales are expected to have increased +0.5% m/m and +0.4% m/m ex-autos. In addition, Dec existing home sales are expected to climb +2.2% m/m to 4.22 million. Finally, the Supreme Court on Wednesday may rule on the legality of President Trump’s tariffs. On Thursday, weekly initial unemployment claims are expected to increase by +7,000 to 215,000. Also, the Jan Empire manufacturing survey of general business conditions is expected to climb by +4.9 to 1.0. On Friday, Dec manufacturing production is expected to fall -0.1% m/m. Also, the Jan NAHB housing market index is expected to increase by +1 to 40.
Q4 earnings season is set to begin this week as bank earnings start to roll in. According to Bloomberg Intelligence, S&P earnings growth is expected to climb by +8.4% in Q4. Excluding the Magnificent Seven megacap technology stocks, Q4 earnings are expected to increase by +4.6%.
The markets are discounting the odds at 3% for a -25 bp rate cut at the FOMC’s next meeting on January 27-28.
Overseas stock markets are mixed today. The Euro Stoxx 50 fell from a new record high and is down -0.01%. China’s Shanghai Composite fell from a 10.5-year high and closed down -0.64%. Japan’s Nikkei Stock 225 rallied to a new all-time high and closed up sharply by +3.10%.
Interest Rates
March 10-year T-notes (ZNH6) today are up by +2 ticks. The 10-year T-note yield is down -0.2 bp to 4.173%. Mar T-notes recovered from overnight losses and are slightly higher today after the US Dec core CPI rose less than expected, easing inflation concerns. T-notes initially moved lower today on carryover pressure from Monday on concerns over Fed independence, when Fed Chair Powell said the Justice Department was threatening a criminal indictment tied to his June testimony on Fed headquarters renovations in retaliation for the Fed not going along with President Trump’s calls for lower interest rates. Also, supply pressures are pressuring T-note prices ahead of today’s Treasury auction of $22 billion in 30-year T-bonds.
European government bond yields are moving higher today. The 10-year German bund yield is up +0.9 bp to 2.850%. The 10-year UK gilt yield is up by +2.6 bp to 4.399%.
Swaps are discounting a 1% chance of a +25 bp rate hike by the ECB at its next policy meeting on February 5.
US Stock Movers
The Magnificent Seven technology stocks are falling today, weighing on the overall market. Microsoft (MSFT) and Meta Platforms (META) are down more than -2%. Also, Amazon.com (AMZN) is down by more than -1%, Nvidia (NVDA) is down -0.43%, Apple (AAPL) is down -0.27%, and Tesla (TSLA) is down -0.14%. Alphabet (GOOGL) is bucking the trend and is up +0.87% after Google entered into a multiyear deal with Apple to power Apple’s AI technology.
Mining stocks are climbing today as the price of silver rallied to a new all-time high. Hecla Mining (HL), Barrick Mining (B), and Newmont Mining (NEM) are up more than +1%. Also, Coeur Mining (CDE) is up +0.93%, and Freeport-McMoRan (FCX) is up +0.09%.
Credit card companies are falling for a second day today after President Trump said credit-card lenders would be “in violation of the law” if they don’t cap interest rates at 10% for one year. Mastercard (MA) is down more than -5%, and Visa (V) is down more than -5% to lead losers in the Dow Jones Industrials. Also, JPMorgan Chase (JPM) is down more than -2%.
Travere Therapeutics (TVTX) is down more than -32% after the company said it received an FDA request to clarify the clinical benefit of its therapy for a rare kidney disease, a move analysts said could delay the agency's approval.
Super Micro Computer (SMCI) is down more than -5% to lead losers in the S&P 500 after Goldman Sachs assumed coverage on the stock with a recommendation of sell and a price target of $26.
CRH Plc (CRH) is down more than -3% after Wells Fargo Securities downgraded the stock to equal weight from overweight.
Chipotle Mexican Grill (CMG) is down more than -3% after announcing that Chris Brandt has stepped down as chief brand officer.
Adobe (ADBE) is down more than -3% after Oppenheimer downgraded the stock to market perform from outperform.
Synopsys (SNPS) is down more than -2% after Piper Sandler downgraded the stock to neutral from overweight with a price target of $520.
Delta Air Lines (DAL) is down more than -1% after it forecast full-year adjusted EPS of $6.50 to $7.50, the midpoint below the consensus of $7.20.
Option Care Health (OPCH) is up more than +8% after TD Cowen said the company’s forecast for 2026 EBITDA growth of +2% to +7% are better than we expected.
Intel (INTC) is up more than +6% to lead gainers in the Nasdaq 100 after KeyBanc Capital Markets upgraded the stock to overweight from sector weight with a price target of $60.
Advanced Micro Devices (AMD) is up more than +5% after KeyBanc Capital Markets upgraded the stock to overweight from sector weight with a price target of $270.
Revvity (RVTY) is up more than +5% after reporting preliminary Q4 revenue of $772 million, stronger than the consensus of $756.9 million.
Cardinal Health (CAH) is up more than +4% after raising its full-year adjusted EPS forecast to at least $10.00 from a previous forecast of $9.65-$9.85, stronger than the consensus of $9.83.
Albemarle Corp (ALB) is up more than +3% after Deutsche Bank upgraded the stock to buy from hold with a price target of $185.
Huntington Ingalls Industries (HII) is up more than +3% after Bernstein raised its price target on the stock to $412 from $362.
L3Haris Technologies (LHX) is up more than +2% as the US Department of Defense is set to invest in the company’s Missile Solutions business via a $1 billion convertible preferred security.
Earnings Reports(1/13/2026)
Bank of New York Mellon Corp (BK), Concentrix Corp (CNXC), Delta Air Lines Inc (DAL), JPMorgan Chase & Co (JPM). On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. |
| 13.01.26 18:30:00 |
Trump's credit card cap could make most of industry 'unprofitable' |
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**Haftungsausschluss: Der Text wurde mit Hilfe einer KI zusammengefasst und übersetzt. Für Aussagen aus dem Originaltext wird keine Haftung übernommen!**
JPMorgan Chase (JPM) reached a deal earlier this month to take over Goldman Sachs' (GS) Apple Card (AAPL) account; the costs related to this transfer weighed on the former's earnings figures for the fourth quarter. Additionally, President Trump suggested a 10% cap on credit card fees earlier this week.
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HSBC Head of US Financials Research Saul Martinez reacts to headlines of the Apple Card impacts and what Trump's policy proposal could mean for the financial sector and credit lenders.
Also watch Saul Martinez discuss JPMorgan's latest earnings release.
To watch more expert insights and analysis on the latest market action, check out more Market Catalysts.
Video Transcript
00:00 Speaker A
I'm curious what you make of the deal for the Apple card. Um, the company taking a charge of about two and a quarter billion related to that in this quarter and they're not going to take over the Apple card what for two years? Do you think that was a good deal for them?
00:19 Speaker B
Yeah, I think um, you know, there there is a lot of uh news flow around cards these days, but um yes. I think this is a situation when you when you think about M&A, um the transaction makes sense if it's you know, to happen if it's worth more to the buyer than the seller. I think this is clearly the case here with Goldman and JP Morgan. This really does round out their their cards business. JP Morgan is very, very strong in in the um the the the high net worth or the the premium rewards space, the premium space. Um and this does give them a more balanced cards business. Um partnering with Apple is is obviously, you know obviously has some benefits. You do get um access to a number of clients that you can perhaps cross-sell um into and they just have more scale in this business than a than a Goldman Sachs does. So, it's a business that is more likely to be profitable in the hands of JP Morgan. So I I do think it makes sense. It, you know, there is a it will take some time to integrate that uh portfolio two years, but I I do think it strategically it makes some sense and it it is a business that if you run it right, it is a high margin, high profitability type of type of business.
01:21 Speaker A
And speaking of credit cards, as you said there's been a lot of news flow there. Um, CFO of JP Morgan, Jeremy Barnum said on the call that it would be very, very negative if this 10% cap went into effect. Um, how negative will I mean, have you gone so far as to sort of try and quantify what effect that would have on JP Morgan and the other banks?
01:46 Speaker B
Yeah, I I wouldn't we we've published on this. We haven't quantified it. I've been a little bit careful about putting numbers around this given the uncertainty, given a lot of uncertainty about this. not not just whether it happens and and there are some questions about how it even could be implemented legally. Um but also, you know, what the details would be? Would this be on all of the portfolio today or would it just be on new origination would have a sizable effect. What I would say here is that the impacts would be very, very sizable. Um, a 10% interest ca- interest rate cap makes a very sizable part of the cards business unprofitable and would mean lenders would, you know, probably not provide credit to, you know, large numbers of borrowers. It would be much more negative obviously for some of the consumer finance companies and you saw that in the reactions yesterday, Capital One and Synchrony where, you know, you you can run math that is pretty, you know, devastating to earnings. Um, from the banks, it it is relevant. I mean, JP Morgan, you know, cards are roughly about, um, you know, roughly in the low mid teens in terms of revenue uh contribution. Um, uh, but it it does it does really change the nature of the business and and it would, you know, it would certainly have a, uh, a material impact on earnings. That said, JP Morgan is so diversified and so profitable across the businesses that, you know, they could probably withstand it more than others. of the other bank City Group would also be would probably be the most affected. The cards are about 20 to 25% of revenues and loans. So they would be, you know, impacted and they have a big retail services business that would be, um, you know, a partnership business with retailers that that would be, um, impacted. So I'm hesitant to really quantify in specific terms, but it it would be relevant and it would have a, you know, a not immaterial impact on profitability for some of the banks.
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| 13.01.26 18:06:17 |
Visa, Mastercard Slide; JPMorgan Vows To Fight Trump Rate Cap |
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JPMorgan's CFO said "everything's on the table" when it comes to fighting against President Donald Trump policy proposal of limiting credit card interest rates to 10%.
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| 13.01.26 18:02:35 |
Trump targets card swipe fees after interest rate threats |
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**Haftungsausschluss: Der Text wurde mit Hilfe einer KI zusammengefasst und übersetzt. Für Aussagen aus dem Originaltext wird keine Haftung übernommen!**
(Bloomberg) — First President Donald Trump targeted the interest rates credit-card companies levy against US consumers. Now he’s targeting the interchange fees that merchants must pay to tap, swipe and insert their cards at checkout by endorsing a measure on Capitol Hill that aims to boost competition among payment networks.
Trump called on lawmakers in a social media post early Tuesday to support legislation known as the Credit Card Competition Act, a bipartisan measure that would require larger banks to offer retailers the ability to bypass dominant networks Visa Inc. and Mastercard Inc. for transactions, taking direct aim at what has been a lucrative business model. Shares of Visa and Mastercard were down at least 4% at 12:50 p.m. in New York Tuesday. American Express Co. shares were 0.7% lower.
Trump said the legislation would “stop the out of control Swipe Fee ripoff.”
Republican Senator Roger Marshall and Democratic Senator Dick Durbin reintroduced the legislation on Tuesday. The bill has been backed for years by the nation’s big retailers seeking to shrink the processing fees they must pay for credit cards, which tend to be far higher in the US than in other countries, but many congressional allies of the banks have opposed the measure.
“We still view passage as unlikely though we will be watching in the next few days to see if the measure picks up GOP support,” TD Cowen analyst Jaret Seiberg wrote in a note. “To us, this is political as it is another way for the president to blame the banks for high prices.”
Trump has recently put a renewed focus on affordability issues ahead of the US midterm elections in November. That has left Wall Street in the crosshairs as banks push back against his call to cap credit card rates, which has been supported by progressive lawmakers for years and also drawn backing from Republicans.
JPMorgan Chase & Co. (JPM) Chief Financial Officer Jeremy Barnum said Tuesday that a cap would “significantly change” its business and harm US customers and warned “everything is on the table” in fighting the measure.
Some critics have said the move could lead to many consumers losing access to credit. For riskier borrowers, banks would likely have either to terminate credit lines, raise minimum monthly payments or tack on extra fees, according to the Bank Policy Institute.
Senate Majority Leader John Thune and Republican Speaker Mike Johnson poured cold water on the proposal Tuesday, with Thune saying the measure “would probably deprive an awful lot of people of access to credit around the country.”
Story Continues
Johnson said he spoke to Trump and fellow lawmakers about the proposal and concluded it would take “work” to resolve differences on it. Thune also said he expects the credit card competition bill will probably get a vote in the Senate, noting that there are lawmakers on both sides of that issue.
William Blair analyst Andrew Jeffrey wrote in a note to clients that long-term investors should accumulate shares of Visa, Mastercard and American Express “amid uncertainty-driven weakness caused by shifting political sentiment seemingly intent on regulating the bank card industry.”
“Although CCCA impact is hard to gauge, it could be a positive for Amex given it is the third most scaled credit network,” Jeffrey wrote in the note. Third-party debit networks owned by Fidelity National Information Services Inc. and Fiserv Inc. could also benefit if they begin supporting credit routing, he added.
—With assistance from Erik Wasson and Katherine Chiglinsky.
©2026 Bloomberg L.P.
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| 13.01.26 17:15:41 |
Stocks Little Changed Despite a Fed-Friendly US Core CPI Report |
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**Haftungsausschluss: Der Text wurde mit Hilfe einer KI zusammengefasst und übersetzt. Für Aussagen aus dem Originaltext wird keine Haftung übernommen!**
The S&P 500 Index ($SPX) (SPY) is down -0.02%, the Dow Jones Industrials Index ($DOWI) (DIA) is down -0.36%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.09%. March E-mini S&P futures (ESH26) are down -0.03%, and March E-mini Nasdaq futures (NQH26) are up +0.10%.
Stock indexes recovered from overnight losses and turned mixed today, with the Nasdaq 100 posting a 2.25-month high. Easing inflation concerns are knocking bond yields lower and pushing stocks higher today after US December core consumer prices rose less than expected. The 10-year T-note yield is down -2 bp to 4.16%. Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
Also, energy-producing stocks are climbing today, with WTI crude oil up more than 1% at a 1.75-month high. Geopolitical risks are pushing crude oil higher as the US ratcheted up pressure on Iran after President Trump announced a 25% tariff on goods from countries “doing business” with Iran. Also, drone attacks on oil tankers near the Caspian Pipeline Consortium terminal on Russia’s Black Sea Coast have reduced crude loadings at the terminal by almost half to around 900,000 bpd.
Credit card companies are falling for a second day today to weigh on the Dow Jones Industrials after President Trump said credit-card lenders would be “in violation of the law” if they don’t cap interest rates at 10% for one year.
Stocks have some negative carryover from Monday on concerns about Fed independence, after Fed Chair Powell said the Justice Department was threatening a criminal indictment tied to his June testimony on Fed headquarters renovations, in retaliation for the Fed not going along with President Trump’s calls for lower interest rates.
US Dec CPI was unchanged from Nov at +2.7% y/y, right on expectations. Dec core CPI was also unchanged from Nov at +2.6% y/y, a smaller increase than expectations of +2.7% y/y.
The market’s focus this week will be on economic news and any fresh news on the Federal Reserve. Later today, Oct new home sales are expected to fall -10.6% m/m to 715,000. On Wednesday, Nov PPI final demand is expected to increase +2.7% y/y, and Nov core PPI is also expected to climb by +2.7% y/y. Also, Nov retail sales are expected to have increased +0.5% m/m and +0.4% m/m ex-autos. In addition, Dec existing home sales are expected to climb +2.2% m/m to 4.22 million. Finally, the Supreme Court on Wednesday may rule on the legality of President Trump’s tariffs. On Thursday, weekly initial unemployment claims are expected to increase by +7,000 to 215,000. Also, the Jan Empire manufacturing survey of general business conditions is expected to climb by +4.9 to 1.0. On Friday, Dec manufacturing production is expected to fall -0.1% m/m. Also, the Jan NAHB housing market index is expected to increase by +1 to 40.
Q4 earnings season is set to begin this week as bank earnings start to roll in today. According to Bloomberg Intelligence, S&P earnings growth is expected to climb by +8.4% in Q4. Excluding the Magnificent Seven megacap technology stocks, Q4 earnings are expected to increase by +4.6%.
The markets are discounting the odds at 5% for a -25 bp rate cut at the FOMC’s next meeting on January 27-28.
Overseas stock markets are mixed today. The Euro Stoxx 50 rose to a new record high and is up +0.41%. China’s Shanghai Composite fell from a 10.5-year high and closed down -0.64%. Japan’s Nikkei Stock 225 rallied to a new all-time high and closed up sharply by +3.10%.
Interest Rates
March 10-year T-notes (ZNH6) today are up by +4 ticks. The 10-year T-note yield is down -1.0 bp to 4.165%. Mar T-notes recovered from overnight losses and turned higher today after the US Dec core CPI rose less than expected, easing inflation concerns. T-notes initially moved lower today on carryover pressure from Monday on concerns over Fed independence, when Fed Chair Powell said the Justice Department was threatening a criminal indictment tied to his June testimony on Fed headquarters renovations in retaliation for the Fed not going along with President Trump’s calls for lower interest rates. Also, supply pressures are pressuring T-note prices ahead of today’s Treasury auction of $22 billion in 30-year T-bonds.
European government bond yields are moving higher today. The 10-year German bund yield is up +1.3 bp to 2.854%. The 10-year UK gilt yield is up by +1.4 bp to 4.387%.
Swaps are discounting a 1% chance of a +25 bp rate hike by the ECB at its next policy meeting on February 5.
US Stock Movers
Mining stocks are climbing today as the price of silver rallied to a new all-time high. Hecla Mining (HL) is up more than +3%, and Barrick Mining (B) is up more than +2%. Also, Coeur Mining (CDE), Freeport-McMoRan (FCX), and Newmont Mining (NEM) are up more than +1%.
Credit card companies are falling for a second day today after President Trump said credit-card lenders would be “in violation of the law” if they don’t cap interest rates at 10% for one year. Visa (V) is down more than -3% to lead losers in the S&P 500 and Dow Jones Industrials. Also, Mastercard (MA) and JPMorgan Chase (JPM) are down more than -2%.
Option Care Health (OPCH) is up more than +9% after TD Cowen said the company’s forecast for 2026 EBITDA growth of +2% to +7% are better than we expected.
Revvity (RVTY) is up more than +9% to lead gainers in the S&P 500 after reporting preliminary Q4 revenue of $772 million, stronger than the consensus of $756.9 million.
Advanced Micro Devices (AMD) is up more than +6% to lead gainers in the Nasdaq 100 after KeyBanc Capital Markets upgraded the stock to overweight from sector weight with a price target of $270.
Cardinal Health (CAH) is up more than +3% after raising its full-year adjusted EPS forecast to as least $10.00 from a previous forecast of $9.65-$9.85, stronger than the consensus of $9.83.
L3Haris Technologies (LHX) is up more than +3% as the US Department of Defense is set to invest in the company’s Missile Solutions business via a $1 billion convertible preferred security.
MP Materials (MP) is up more than +3% after William Blair initiated coverage on the stock with an outperform recommendation.
Albemarle Corp (ALB) is up more than +2% after Deutsche Bank upgraded the stock to buy from hold with a price target of $185.
Huntington Ingalls Industries (HII) is up more than +2% after Bernstein raised its price target on the stock to $412 from $362.
Travere Therapeutics (TVTX) is down more than -27% after the company said it received an FDA request to clarify the clinical benefit of its therapy for a rare kidney disease, a move analysts said could delay the agency's approval.
Delta Air Lines (DAL) is down more than -2% after it forecast full-year adjusted EPS of $6.50 to $7.50, the midpoint below the consensus of $7.20.
CRH Plc (CRH) is down more than -2% after Wells Fargo Securities downgraded the stock to equal weight from overweight.
Adobe (ADBE) is down more than -2% after Oppenheimer downgraded the stock to market perform from outperform.
Installed Building Products (IBP) is down more than -1% after JPMorgan Chase downgraded the stock to underweight from neutral with a price target of $245.
Synopsys (SNPS) is down more than -1% after Piper Sandler downgraded the stock to neutral from overweight with a price target of $520.
Alcoa (AA) is down more than 1% after Wells Fargo Securities downgraded the stock to equal weight from overweight.
Earnings Reports(1/13/2026)
Bank of New York Mellon Corp (BK), Concentrix Corp (CNXC), Delta Air Lines Inc (DAL), JPMorgan Chase & Co (JPM). On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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