5 Stocks Most Impacted by JPMorgan’s Earnings

By Joel South Published Jul 14, 10:43AM EDT

Quick Read

JPMorgan's $7.70 EPS crushed the $5.80 estimate, with IB fees up 30% to their highest since 2021 and Markets revenue surging 35%.
Goldman Sachs posted a 44% EPS beat as Equity Underwriting surged 130% and Global Banking & Markets revenue jumped 53%.
JPMorgan's fresh $50 billion buyback, stabilizing consumer credit, and reopened capital markets set a high bar for Morgan Stanley and Wells Fargo still to report.
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5 Stocks Most Impacted by JPMorgan’s Earnings — © Chris Hondros / Getty Images News via Getty Images

JPMorgan kicked off Q2 2026 earnings season this morning with a blowout earnings report that reset expectations for the entire financial sector. The bank posted $7.70 in diluted EPS versus $5.80 expected and $57.35 billion in revenue, powered by a $4.6 billion Visa share exchange gain and a 27% surge in Commercial & Investment Bank revenue. Jamie Dimon flagged IB fees up 30% to the highest level since 2021 and Markets revenue up 35%.

That combination of trading strength, capital markets reopening, and resilient consumer credit is the read-through driving peer stocks today. Here are the five names most exposed to JPMorgan’s tone-setting report, ranked by the size and directness of the impact.

1. Goldman Sachs (GS)

Goldman Sachs (NYSE:GS | GS Price Prediction) is the purest read-through, and it delivered its own bombshell alongside JPM. Goldman posted EPS of $20.98 versus $14.54 expected, a 44.27% beat and its fifth straight beat. Global Banking & Markets revenue jumped 53% to $15.52 billion, with Equities up 72% and Equity Underwriting up 130%. CEO David Solomon said “Momentum has accelerated throughout our businesses… we expect this flywheel of activity to continue.”

Shares were down 0.88% intraday to $1,045.91 despite the beat, suggesting expectations were already elevated after a 20.12% YTD run. The forward catalyst is backlog conversion: management noted the IB backlog grew again versus Q1.

2. Bank of America (BAC)

Bank of America (NYSE:BAC) has the closest business mix to JPMorgan, and it also reported this morning. EPS came in at $1.21 versus $1.12 expected, with Equities S&T up 70% to $3.62 billion and investment banking fees up 50%. Net interest income rose 9% YoY, and credit metrics improved with the net charge-off ratio dropping to 0.47% from 0.55%.

Brian Moynihan called it “one of our strongest quarters to date” and noted “pipelines remain strong, and commercial borrowing has picked up.” Shares rallied 2.06% to $60.73, validating the universal-bank thesis JPM anchored.

3. Morgan Stanley (MS)

Morgan Stanley (NYSE:MS) has not yet reported Q2, which makes today’s peer earnings reports a direct sentiment catalyst. The stock is up 4.55% to $231.16, the largest move among the five names. Morgan Stanley’s Q1 already showed 27.1% ROTCE, Advisory up 74%, and $118.4 billion in wealth net new assets. With JPM’s IB fees at their highest since 2021 and Goldman signaling a flywheel, MS’s advisory-heavy franchise inherits the same tailwind. Ted Pick previously described the firm as reporting “a record quarter”, and the read-through raises the bar again.

4. Wells Fargo (WFC)

Wells Fargo (NYSE:WFC) is the closest analog to JPM’s core banking franchise, particularly on NII and consumer credit. Shares rose 0.63% to $88.22 as JPM’s 10% NII growth and stable credit card charge-offs of 3.33% supported Wells’ outlook. Wells guided full-year 2026 NII to roughly $50 billion, and its Q1 net interest margin already compressed to 2.47% from 2.67%. The macro backdrop helps: FRED credit card delinquencies eased to 2.92%, and retail sales hit $763.7 billion in May, up 0.9% month over month. WFC remains down 4.92% YTD, so a positive read-through matters most here.

5. Visa (V)

Visa (NYSE:V) is the payments proxy for JPM’s consumer spending commentary. Shares climbed 2.52% to $357.75 after JPM highlighted Card Services and Auto revenue up 12% and card annual fees up more than 30%. Visa’s most recent quarter showed payments volume up 8% and cross-border volume up 11%, and JPM’s disclosure that Chase will become the new Apple Card issuer roughly 24 months from December 2025 reinforces network volumes. Ryan McInerney described Visa as “a payments hyperscaler” driven by resilient consumer spending, the exact theme JPM validated today.

Conclusion

Three themes anchor today’s cross-company read-through: capital markets have decisively reopened (GS, MS, BAC benefit most), consumer credit is stabilizing rather than deteriorating (WFC, BAC, V), and buyback capacity remains robust, with JPM authorizing a fresh $50 billion program. The primary uncertainties Dimon flagged, “geopolitical tensions and wars, sticky inflation, large global fiscal deficits and elevated asset prices,” remain the swing factors. With Morgan Stanley and Wells Fargo still to report, today’s earnings set a high bar that either extends the sector rally or exposes crowded positioning.

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About the Author Joel South →

Joel South covers large-cap stocks, dividend investing, and major market trends, with a focus on earnings analysis, valuation, and turning complex data into actionable insights for investors.

He brings more than 15 years of experience as an investor and financial journalist, including 12 years at The Motley Fool, where he served as an investment analyst, Bureau Chief, and later led the Fool.com investing news desk. He has also co-hosted an investing podcast and appeared across TV and radio discussing market trends.