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JPMorgan Q2 2026 EPS Beats at $6.14 vs. $5.85 Estimate; Revenue Hits $58.02B — Wells Fargo Posts $2.00 EPS on $1.72 Forecast

JPMorgan Chase reported Q2 2026 EPS of $6.14 against the $5.85 LSEG consensus and revenue of $58.02 billion, towering above the $50.19 billion estimate in one of the company's largest-ever quarterly beats. Wells Fargo matched with $2.00 EPS versus the $1.72 estimate. Goldman Sachs, Bank of America, and Citigroup were still pending before the open. Combined, the five banks hold more than $13 trillion in assets and set the tone for an earnings season where S&P 500 profits are expected to grow 23.9% in Q2.

Fed Chair Warsh Prepares for Debut Congressional Testimony Tuesday — 70% Market Probability of September Rate Hike Hangs on His Words

Federal Reserve Chair Kevin Warsh testifies before the House Financial Services Committee tomorrow, Tuesday July 14, with the June CPI report landing 90 minutes before the hearing begins. Markets currently price a 70% probability of a September rate hike after his hawkish June FOMC debut, where nine of nineteen officials projected at least one increase before year-end. Warsh's stance on AI-driven disinflation versus persistent energy-fueled price pressures is the pivotal unknown for rates, equities, and crypto.

Q2 2026 Bank Earnings Season Opens Tuesday — JPMorgan Consensus EPS $5.49, Goldman $14.47, Options Markets Price 4-6% Swings

JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, and Goldman Sachs all report Q2 2026 earnings Tuesday before the open, the same morning as the June CPI release. Consensus expects JPMorgan EPS of $5.49 on $48.7 billion in revenue and Goldman EPS of $14.47 on roughly $16 billion — both reflecting year-over-year growth above 10%. Options markets are pricing single-day moves of 4.4% to 6.0%, and the KBW Bank Index is trading near record highs ahead of results.

Dow Gains 83 Points to Record High as Dow Rotates Away from AI Chips — S&P 500 and Nasdaq Fall 0.2% and 0.7%

The Dow Jones Industrial Average rose 83 points, or 0.2%, to a fresh all-time intraday high, while the S&P 500 fell 0.2% and the Nasdaq Composite declined 0.7% as investors rotated out of semiconductor names following Samsung's disappointing revenue guidance. Micron fell 5%, the VanEck Semiconductor ETF dropped more than 3%, and chipmakers including KLA, Marvell, Broadcom, and AMD all declined. Gains in JPMorgan, Microsoft, Eli Lilly, and Walmart offset selling pressure in the broader market.

All 32 Banks Pass 2026 Fed Stress Test as JPMorgan Unveils $50B Buyback and 10% Dividend Hike — Goldman Sachs, Wells Fargo, Morgan Stanley Follow With Double-Digit Increases

All 32 U.S. banks passed the Federal Reserve's 2026 annual stress test, absorbing $708 billion in projected losses while maintaining capital ratios above minimums. JPMorgan Chase raised its quarterly dividend 10% to $1.65 per share and authorized a new $50 billion buyback effective July 1. Goldman Sachs lifted its dividend 11% to $5 per share, Wells Fargo raised its payout 11% to $0.50, and Morgan Stanley boosted its dividend 15% to $1.15 per share while reauthorizing a $20 billion repurchase program.

Federal Reserve 2026 Bank Stress Tests Cover 32 Institutions — Capital Return Plans Face Key Examination

The Federal Reserve will release 2026 stress-test results covering 32 major U.S. banks after markets close. The scenario assumes unemployment reaching 10%, residential real estate prices falling 30%, and commercial real estate declining 39%. Although capital requirement changes have been delayed until 2027, investors remain focused on buyback plans, dividend capacity, and capital return programs. Strong results could reinforce confidence in the banking sector and support large financial institutions heading into the second half of the year.

Fed Faces June 17 FOMC Decision With 89% Odds of No Change — 4.2% CPI Keeps Cut Hopes on Ice

The Federal Reserve's FOMC meets June 16-17, with prediction markets assigning roughly 89% to 99% odds that the federal funds rate stays unchanged at 3.50%-3.75%. May CPI came in at 4.2% year-over-year, well above the Fed's 2% target, while unemployment near 4.3% has reduced expectations for near-term rate cuts. Investors are watching closely for any shift in the Fed's policy bias under new Chair Kevin Warsh.

Kevin Warsh Faces Senate Banking Committee Tuesday in High-Stakes Fed Chair Confirmation Hearing

Former Federal Reserve Governor Kevin Warsh, President Trump's nominee to succeed Chair Jerome Powell when his term expires May 15, appears before the Senate Banking Committee Tuesday at 10 a.m. ET. Markets are watching for signals on Fed independence, the pace of balance sheet reduction, and rate policy at a moment when energy-driven inflation and geopolitical uncertainty have left the central bank's path highly uncertain.

Trump Orders U.S. Naval Blockade of Strait of Hormuz After Iran Peace Talks Collapse

President Trump ordered the U.S. Navy to blockade the Strait of Hormuz on Sunday after weekend peace negotiations in Islamabad between the U.S. and Iran ended without a deal. The move sent oil prices surging past $103 per barrel, rattled global equity markets, and reignited fears of a prolonged energy supply shock that could deepen inflationary pressures across the global economy.