New York, March 2, 2026, 13:23 EST — Regular session
- JPMorgan slipped in midday New York trading, following a choppy start to the session.
- Oil jumped on Middle East conflict headlines, rattling investors with renewed inflation fears and complicating dealmaking outlooks.
- Oil-supply cues and Friday’s U.S. jobs numbers are now in focus for investors looking for a fresh push.
JPMorgan Chase & Co (JPM.N) slipped 0.47% to $298.89 by midday, recovering somewhat after an earlier drop of up to 2.35%. Shares kicked off the session at $295.15, moving between $293.23 and $299.98 so far. 1
Stocks slid, with the broader market digesting a surge in crude oil and fresh concerns that drawn-out conflict in the Middle East could stoke inflation again. “At times when there is nervousness, people will go to the leaders in the market,” said Joe Saluzzi, co-head of equity trading at Themis Trading. 2
JPMorgan and Citigroup staffers across the Middle East have been told to work remotely, two people with direct knowledge told Reuters, as tensions climb in the region. Citigroup said it’s acting to safeguard its employees and their families. Industry sources flagged that the conflict threatens to throw off scheduled capital market fundraisings and cross-border transactions, with travel restrictions widening. 3
The KBW Bank index, which tracks U.S. lenders, climbed roughly 0.9% by midday. JPMorgan, though, trailed behind several rivals after its initial decline. 4
JPMorgan’s Troy Rohrbaugh isn’t convinced the wave of selling is over. Speaking Monday at the bank’s global leveraged-finance conference in Miami, the co-head of commercial and investment banking told attendees, “People are in a sell first, figure it out later mode,” Bloomberg reported. 5
For weeks, sentiment has stayed uneasy with investors arguing over the upsides and the pitfalls of artificial intelligence. “There continues to be this … back and forth about who might be the victim and those that will actually emerge winners,” said Kristina Hooper, chief market strategist at Man Group. 6
The U.S. February jobs report lands Friday at 8:30 a.m., March 6, per the Labor Department’s release schedule. Investors typically seize on the employment numbers to recalibrate expectations for the Fed’s next rate decision. 7
Oil’s also in focus. Citi is calling for Brent to stay in the $80 to $90 range this week. Crude flows through the Strait of Hormuz have dropped hard, with JPMorgan pegging exports at roughly 4 million barrels a day, way down from the normal 16 million, according to Reuters. 8
JPMorgan, in another SEC filing, detailed callable fixed-rate notes maturing March 5, 2031. The notes come with a 4.00% coupon and a pricing date set for March 2.
That picture can shift quickly. Prolonged conflict and persistently high energy prices? The lift from increased rates risks getting buried under sluggish loan demand, mounting credit losses, and a slowdown in underwriting and merger activity.
JPMorgan’s next big update lands April 14, with first-quarter numbers expected at about 6:45 a.m. Eastern, according to the bank. A conference call is set for 8:30 a.m. that day. 9
