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JPMorgan Chase is one of the largest and most complex financial institutions in the United States, with nearly $4 trillion in assets. It is organized into four major segments: consumer and community banking, corporate and investment banking, commercial banking, and asset and wealth management. JPMorgan operates, and is subject to regulation, in multiple countries.

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Kinexys, la división de blockchain de JPMorgan (NYSE:JPM), anunció el miércoles que ha ejecutado su primera transacción pública de bonos del Tesoro de EE. UU.

JPMorgan tokeniza bonos del Tesoro en blockchain pública con Ondo y Chainlink

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El IPP de EE.UU. cayó un 0,4 % en marzo, por debajo de lo esperado. La inflación al productor desacelera y los mercados reaccionan al alza.

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J P Morgan Chase & Co Depositary Shares, each representing a 1/400th interest in a share of 6.00% Non-Cumulative Preferred Stock, Series EE

J P Morgan Chase & Co Depositary Shares, each representing a 1/400th interest in a share of 5.75% Non-Cumulative Preferred Stock, Series DD

J P Morgan Chase & Co Depositary Shares, each representing a 1/400th interest in a share of JPMorgan Chase & Co. 4.75% Non-Cumulative Preferred Stock, Series GG

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J P Morgan Chase & Co Depositary Shares, each representing a 1/400th interest in a share of 4.625% Non-Cumulative Preferred Stock, Series LL

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JPMorgan Chase&#8216;s chief global strategist suggests that the US economy, while likely to dodge a recession, should brace for slower growth.
What Happened:&nbsp;David Kelly, the chief global strategist at&nbsp;JPMorgan Chase &amp; Co.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), anticipates a deceleration in the US economy due to&nbsp;tariffs and other economic factors. 
Despite these challenges, Kelly remains optimistic about the economy&#8217;s resilience to stave off a full-scale recession.
&#8220;No, we&#8217;re not [seeing impacts now]. At the moment, I&#8217;d have to say the tariff pullback and also this big tax bill, which is going to put stimulus into 2026 and a little stimulus in 2025, that takes us from more than likely going to have a recession to less than likely we&#8217;re going to have a recession this year,&#8221; Kelly stated during an <a href="https://www.youtube.com/watch?v=7ghzpDDdne8">with</a> CNBC.
However, Kelly also cautioned about a potential dip in consumer spending due to economic uncertainty and possible inflation resulting from tariff impacts. 
Also Read: <a href="https://www.benzinga.com/markets/25/04/44891073/donald-trumps-trade-war-jpmorgan-predicts-deals-higher-taxes-and-potential-recession-avoidance">Donald Trump&#8217;s Trade War: JPMorgan Predicts Deals, Higher Taxes and Potential Recession Avoidance</a>
He said, &#8220;Consumers&nbsp;are resilient, but there comes&nbsp;a point where you squeeze&nbsp;them enough in terms of&nbsp;tariffs, you&#8217;re&nbsp;collecting on the student loans&nbsp;again, and then just the&nbsp;general worry, and, of course,&nbsp;the cutbacks to the government&nbsp;sector, all these things I&nbsp;think are beginning to weigh&nbsp;on consumers. I think it is slowing the economy down, still not willing to say recession.&#8221;
Why It Matters: Kelly&#8217;s forecast comes at a time when the US economy is grappling with multiple challenges, including tariffs and economic uncertainty. 
His prediction of slower growth, while avoiding a recession, suggests a mixed economic outlook. The potential contraction in consumer spending and inflation from tariff impacts underscore the need for strategic economic planning and policy-making. 
While the resilience of the US economy is a positive sign, the anticipated slowdown underscores the importance of continued vigilance and proactive economic measures.
Read Next
<a href="https://www.benzinga.com/markets/25/04/44780349/trumps-tariff-policies-fuel-economic-concerns-economists-expect-slower-growth-ahead" target="_blank" rel="noreferrer noopener">Trump's Tariff Policies Fuel Economic Concerns, Economists Expect Slower Growth Ahead</a>
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JPMorgan Chase: US Economy Likely To Skirt Recession, Forecasts Sluggish Growth

JPMorgan Chase (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) has outperformed the market over the past 5 years by 9.48% on an annualized basis producing an average annual return of 24.67%. Currently, JPMorgan Chase has a market capitalization of $740.77 billion. 
Buying $100 In JPM: If an investor had bought $100 of JPM stock 5 years ago, it would be worth $295.23 today based on a price of $266.55 for JPM at the time of writing.
<h3>JPMorgan Chase's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1747414433_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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$100 Invested In JPMorgan Chase 5 Years Ago Would Be Worth This Much Today

May 15, 2025 records indicate that Senator Thomas H Tuberville filed a sale of PayPal Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>), valued between $211,015 and $715,000. According to the May filing, the transaction occurred on May 15, 2025.
Currently, PayPal Holdings shares are trading up 0.15% at $71.68.
<h3>What Senator Has Been Trading Recently</h3>
In the past three years, Thomas H Tuberville made 910 stock trades totaling more than $14.38 million. The largest trades involved stocks like ChannelAdvisor and Microsoft. Their most notable trades made recently include key transactions: 
<ul>
<li>iShares Broad USD Investment Grade Corporate Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/USIG#NASDAQ">USIG</a>): $50,001 - $100,000 Purchase</li>
<li>PayPal Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>): $15,001 - $50,000 Sale</li>
<li>JPMorgan Chase (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>): $15,001 - $50,000 Sale</li>
</ul>
Here's a summary of Thomas H Tuberville's recent trades:
<table>
<thead>
<tr>
<th>Company</th>
<th>Ticker</th>
<th>Stock Type</th>
<th>Amount</th>
<th>Transaction Type</th>
<th>Transaction Date</th>
</tr>
</thead>
<tbody>
<tr>
<td>Bristol-Myers Squibb</td>
<td>BMY</td>
<td>STOCK</td>
<td>$1,001 - $15,000</td>
<td>S</td>
<td>2025-04-15</td>
</tr>
<tr>
<td>PayPal Holdings</td>
<td>PYPL</td>
<td>STOCK</td>
<td>$15,001 - $50,000</td>
<td>S</td>
<td>2025-04-15</td>
</tr>
<tr>
<td>iShares Broad USD Investment Grade Corporate Bond ETF</td>
<td>USIG</td>
<td>STOCK</td>
<td>$50,001 - $100,000</td>
<td>P</td>
<td>2025-04-15</td>
</tr>
<tr>
<td>JPMorgan Chase</td>
<td>JPM</td>
<td>STOCK</td>
<td>$15,001 - $50,000</td>
<td>S</td>
<td>2025-04-15</td>
</tr>
<tr>
<td>Alphabet</td>
<td>GOOGL</td>
<td>STOCK</td>
<td>$15,001 - $50,000</td>
<td>S</td>
<td>2025-04-15</td>
</tr>
</tbody>
</table>
To keep an eye on Thomas H Tuberville's trades and other government stock activity, check out our <a href="https://www.benzinga.com/gov-trades/members/thomas-h-tuberville">real-time tracking tool</a>!
<h3>The Importance of Congressional Transactions</h3>
A congressional transaction is when any representative or senator either buys or sells an individual stock.
Anyone working in Congress must file a Periodic Transaction Report to inform the public of their recent transaction within 30 days of being notified of the transaction and within 45 days of the transaction date.
In April 2012, Former President Barack Obama signed the STOCK Act into law. The act prohibits members of Congress from using private information given to them by their position for personal gain such as buying or selling a stock. The act also expanded disclosure requirements for members of Congress by requiring them to file a monthly disclosure.
<h3>The Importance of Congressional Transactions</h3>
Congressional transactions shouldn't be the primary reason for an investing decision, but they can be an important factor for an investor to consider.
When a senator or representative makes a new purchase, it could be an indication they expect the stock to rise.
A sale, on the other hand, can be made for a variety of reasons, and may not necessarily mean the seller thinks the stock will go down.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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This Senator Just Sold Up To $715K In PayPal Holdings Stock

Chainlink (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/link/usd">LINK</a>) price is currently $16.31, marking a <a href="https://www.benzinga.com/markets/cryptocurrency/how-to-buy-chainlink-link">gain of over 30% on its monthly chart</a>. It follows Chainlink's latest integration with the TRON blockchain, some market hesitation amidst a recent price correction, and increasing interest from both large and smaller investors in Chainlink.&nbsp;
According to Blockchain News, Chainlink will expand its decentralized oracle services to TRON&#8217;s high-throughput network, which will enable enhanced functionality for smart contracts. Per Blockchain News, Chainlink price experienced a notable spike in trading volume after the announcement, surging by 28% within two hours to reach $320 million.
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According to The Currency Analytics, daily trading volume has declined by 15% as traders tread with caution. In the past 24 hours, the price of LINK has dropped by around 4%, as per CoinMarketCap.
Global financial institution, JPMorgan Chase &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), has successfully completed a transaction involving tokenized US Treasury bonds on the Ondo Finance platform, using Chainlink&#8217;s interoperability. Per Cointribune, this is the first time that a major global bank connects its payment system to a public blockchain. Chainlink will act as a secure communication bridge between JPMorgan's private blockchain and Ondo's public network.
JPMorgan&#8217;s successful tokenized asset transaction emphasizes the increasing demand for Chainlink&#8217;s ability to facilitate secure communication, and value transfer between traditional finance and public blockchains.
Chainlink co-founder, Sergey Nazarov, stated that asset tokenization is widely anticipated to accelerate capital flows within traditional markets, reports Cointelegraph.&nbsp;
According to TradingView, DeFi platform Dolomite has also integrated Chainlink&#8217;s Cross-Chain Interoperability Protocol (CCIP) to facilitate seamless asset transfers between Verachain, the Ethereum mainnet, and Arbitrum networks.
The Currency Analytics reported two substantial transfers totaling approximately 2.54 million LINK, valued at over $41 million. The tokens moved from the Bybit exchange to an unidentified wallet likely controlled by a single large entity.
IntoTheBlock reveals a significant surge in retail activity, with transaction volumes ranging from $1,000 to $100,000, experiencing increases of 87% and 130%, respectively.&nbsp;
The RSI for Chainlink is currently 58, per TradingView. While the asset is approaching overbought conditions, there is still room for potential short-term gains before significant profit-taking might occur.
If LINK can maintain support above the critical $15.70 level, it could potentially rally by another 35% to a target near $23.15. But a break below $15.30 could negate this bullish outlook, per CoinLore. The community sentiment for Chainlink is highly bullish, with a score of 87%, as per CoinMarketCap. According to CFGI, investors' current outlook for Chainlink is neutral, which was in the greed zone a week ago.
Investors may have to wait for further confirmation of sustained upward momentum before taking a plunge.
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Chainlink Expands to TRON, Volume Dips As JP Leverages LINK Interoperability

Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) rose 1.46% to reach $104,008.46, which took its weekly gains to 0.96%, <a href="https://www.benzinga.com/money/how-to-buy-bitcoin-btc-best-bonuses-august-2024">and monthly to 24.58%</a>. The rise follows JP Morgan Chase &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) analysts' prediction that Bitcoin could outperform gold this year, and growing support of corporate investment towards Bitcoin bull run.
According to Decrypt, the investment banking giant stated that maturing market infrastructure and increasing institutional adoption are the key factors driving Bitcoin&#8217;s strength over gold.
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JP Morgan explained that crypto-specific catalysts like corporate treasury flows, shifting regulation, and better derivatives infrastructure are helping Bitcoin. Recent decisions by major crypto exchanges, including Coinbase Global Inc's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) takeover of Deribit, Kraken&#8217;s takeover of NinjaTrader, and Gemini&#8217;s new EU derivatives license, are signs of a regulated and investor-friendly industry.
While Bitcoin is performing well, gold has been on a downward trend, as investors resort to the former as a store of value in times of economic uncertainty and inflation.
JP Morgan&#8217;s Nikolaos Panigirtzoglou said that compared to gold, Bitcoin has more upside potential in the second half of 2025. Since more ETF inflows are going towards Bitcoin, risk appetite has returned.
Méliuz, a publicly traded fintech company in Brazil, recently became the country&#8217;s first &#8220;Bitcoin Treasury Company&#8221; by paying $28.4 million for 274.52 BTC. The firm now holds over 320 BTC and has seen its stock price increase 116% since the initial purchase of Bitcoin earlier this year.&nbsp;
New York&#8217;s DayDayCook bought 100 BTC as part of its strategy to accumulate 5,000 BTC in three years. The rising confidence among global businesses places Bitcoin as a legitimate store of value and corporate reserve.
A new SEC filing reported that the Wisconsin State Investment Board sold its full $300 million stake in BlackRock&#8217;s Bitcoin ETF in Q1, just before the U.S. initiated broad tariffs against China and other trading partners. The news, which was described as &#8220;Liberation Day,&#8221; triggered short-term volatility, sending Bitcoin temporarily below $75,000 last month. But Bitcoin has since regained its price as trade tensions relaxed and tariff policies eased in May.
Institutional opinion toward Bitcoin is still strong in spite of uncertainties and selloffs. JP Morgan&#8217;s predictions validate the argument that Bitcoin is increasingly a risk-on asset with high growth potential.
Bitcoin&#8217;s performance and institutional acceptance indicate that digital assets are no longer a second thought but a core component of modern investment portfolios. Whether as a hedge, growth asset, or balance sheet reserve, Bitcoin is moving steadily into the space once dominated by gold.
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</ul>
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Bitcoin Up 1.46% as JP Morgan Predicts It Will Outperform Gold, Public Companies Add Digital Assets

JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>)'s May 19 investor day arrives at a pivotal moment for the world's largest bank, with Wall Street watching closely for clarity on management succession and capital strategy as macroeconomic <a href="https://www.benzinga.com/news/econ-s">uncertainty clouds the outlook.</a>
Shares of JPMorgan have rebounded 33% since April's lows and now sit within 5% of February's all-time high, highlighting just how critical this event is for investors.
Up 12% year-to-date, JPMorgan has outpaced the broader Financial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>), which gained just 5.4% in the same period. 
In a note Thursday, Bank of America's analyst Ebrahim Poonawala said the stock's premium is "well deserved but raises the bar for near-term outperformance." 
He called JPMorgan the best-positioned among peers to manage macro uncertainty and leverage opportunities in AI, digital assets, and private credit.
According to Poonawala, there are the five core themes traders and analysts will watch closely.
See Also: <a href="https://www.benzinga.com/25/04/45071155/mild-recession-is-best-case-outcome-jpmorgan-ceo-jamie-dimon">Jamie Dimon Says Recession Is Best-Case Scenario</a>
<h3 class="wp-block-heading">1. CEO Succession: Will Jamie Dimon Signal a Timeline?</h3>
The Street isn't ready for a post-Dimon JPMorgan. 
&#8220;Obviously, best&nbsp;case for investors could be another five years of CEO Jamie Dimon at the helm,&#8221; Poonawala said.
At 69, Jamie Dimon is younger than peers like BlackRock's Larry Fink (72) or Blackstone's Steve Schwarzman (78). 
Yet succession chatter is growing. Marianne Lake, CEO of the Consumer Bank, is seen as the <a href="https://fortune.com/2025/01/17/jennifer-piepszak-exited-jpmorgans-ceo-race-but-theres-still-one-woman-in-the-running-to-succeed-jamie-dimon/">frontrunner</a> after COO Jenn Piepszak reportedly stepped back.
Also in the mix is Troy Rohrbaugh, co-CEO of the Corporate and Investment Bank. Both have over two decades at JPMorgan, and the bank's leadership pipeline is widely viewed as deep and capable.
The company could follow either Morgan Stanley's timeline model or Berkshire Hathaway's pre-announcement style, but any news may cause short-term volatility before clarity brings back investor confidence.
<h3 class="wp-block-heading">2. Capital Deployment: Where Will The $62 Billion Go?</h3>
JPMorgan's balance sheet strength is unmatched. It holds $38 billion in capital above regulatory minimums, and with another $24 billion expected by year-end, the war chest could reach $62 billion—on par with the Fed's 2024 stress test losses.
Despite this, management is playing it safe. Buybacks, which have averaged $6 billion per quarter, remain the preferred use of capital. The bank continues to dismiss the idea of special dividends or big-ticket M&amp;A.
"Capital flexibility is a key asset for JPMorgan," said Poonawala, but he indicated that "management has downplayed any meaningful shift in capital deployment strategy," likely sticking with a near-100% capital return ratio through repurchases and dividends.
<h3 class="wp-block-heading">3. Revenue Outlook: A Net Interest Income Beat in Sight?</h3>
With fewer rate cuts now priced in—just two expected for 2025 versus three before—there's room for JPMorgan to raise its $90 billion net interest income forecast. Last year's guidance pegged NII in the mid-$70 billion range.
Capital markets remain a drag. Dealogic data shows JPM's investment banking fees down 24% year-over-year in second quarter, slightly better than the 29% drop for peers. Yet, fee-based businesses like wealth management and payments could cushion the blow.
Poonawala highlighted digital initiatives like Kinexys, JPM's blockchain-powered payments network, as potential long-term tailwinds, especially under a crypto-friendly White House.
<h3 class="wp-block-heading">4. Expense Discipline: Has Spending Peaked?</h3>
After four straight years of expense growth above 7%, JPMorgan may now guide toward a more sustainable 4%-6% range. 
Headcount growth is slowing, and tech spending as a share of revenue has declined for two consecutive years.
Importantly, despite elevated costs, the bank still leads peers in efficiency. Management signaled that cost savings would likely come from unit cost improvements, not outright budget cuts.
<h3 class="wp-block-heading">5. Credit Risk: Consumer Remains Resilient, For Now</h3>
With consumer credit in focus, JPMorgan&#8217;s card portfolio—17% of total loans—is once again under the microscope. The portfolio has grown 80% since 2015, far above the industry's 65%.
Still, quality remains high. About 86% of JPM card loans go to borrowers with FICO scores above 600, and delinquency rates are low at 2.1%.
Under a moderate stress scenario, management sees a potential 6% EPS hit in 2025. Worst-case losses, using Fed assumptions, could cut profits by half—but JPMorgan is better positioned than most to weather such an outcome.
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</ul>
Image: Shutterstock

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JPMorgan Investor Day Looms, Here Are 5 Core Topics To Watch

<a href="https://www.benzinga.com/25/04/44608617/jp-morgan-hikes-us-recession-odds-to-40-tariffs-create-a-dilemma-for-the-fed">JPMorgan Chase</a> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) has quietly shut down Capital Connect, its startup-venture capital matchmaking platform launched just two years ago. The site went offline in late 2024 without a formal announcement from the bank, and sources familiar with the decision say the platform failed to meet expectations, according to <a href="https://fortune.com/article/jpmorgan-chase-banking-startups-venture-capital-capital-connect-silicon-valley-bank/">Fortune</a>.
Capital Connect was introduced in 2022 as a bold move to deepen JPMorgan's presence in the venture capital space. Designed to streamline fundraising for <a href="https://www.benzinga.com/news/25/05/45298199/vogue-approved-startup-mull-club-recycles-over-1500-pounds-of-plastic-into-designer-homeware-backed-by-fortnum-mason-and-lush">startup</a> founders and strengthen ties with VC firms, the platform was seen as JPMorgan's answer to Silicon Valley Bank's once-dominant position in the startup ecosystem, Fortune reports.
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Capital Connect promised seamless fundraising tools, streamlined investor matchmaking, and integrations with JPMorgan&#8217;s broader banking services. The launch came in October 2022, just two months after the bank <a href="https://www.jpmorgan.com/about-us/corporate-news/2022/jpmorgan-completes-acquisition-of-global-shares">acquired</a> Global Shares, a company offering software for managing employee stock plans, and shortly before it closed its acquisition of data analytics firm Aumni, as confirmed in a statement by <a href="https://www.dlapiper.com/en-us/news/2023/05/dla-piper-advises-aumni-in-its-business-combination-with-jp-morgan">DLA Piper</a> in May 2023.
<h2 class="wp-block-heading">Competitive Pressures and a Shifting Market</h2>
Four sources familiar with the matter confirmed that Capital Connect simply didn't meet expectations, according to Fortune. One of those sources told Fortune that Capital Connect "didn't really reach a state where it had bespoke value to offer all ends of the marketplace."
Despite the platform's ambitious vision, Capital Connect struggled to gain meaningful traction in the market. Though JPMorgan has not officially disclosed the reasons behind its quiet closure, the decision shows that the initiative may have fallen short of delivering the strategic impact originally envisioned. Rather than continue pouring resources into a standalone product, the bank is now redirecting its focus toward deepening its relationships with the venture capital ecosystem through its existing, more established banking channels, according to<a href="https://www.crowdfundinsider.com/2025/05/239293-jpmorgan-discontinues-capital-connect-platform-shifts-focus-to-traditional-banking-relationships/"> Crowdfund Insider</a>.
Trending: Nancy Pelosi Invested $5 Million In An AI Company Last Year — <a href="https://www.benzinga.com/money/elf-labs-ym?v=123">Here's How You Can Invest In Multiple Pre-IPO AI Startups With Just $1,000.</a>
Meanwhile, global venture capital was entering a cooling phase.<a href="https://news.crunchbase.com/venture/startup-investment-charts-q1-2025/"> Crunchbase</a> says that in the first quarter of this year, global venture capital funding hit $113 billion, but according to<a href="https://fortune.com/2025/04/01/openai-finalizes-40-billion-funding-at-300-billion-value/"> Fortune</a>, over $40 billion of that came from OpenAI's raise alone.
<h2 class="wp-block-heading">JPMorgan Shifts Strategy While Preserving Startup Ties</h2>
Despite the closure, JPMorgan says its commitment to the innovation economy hasn't wavered. Most of the 200 employees who worked on Capital Connect were reassigned across the firm, especially into JPMorgan's global banking and digital services units, Fortune reports.
Capital Connect's backend is now being repurposed for another project JPMorgan plans to unveil in the coming months, according to Fortune. Global Shares, once part of the Capital Connect bundle, has been rebranded as J.P. Morgan Workplace Solutions and remains active.
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The bank has also bulked up its innovation economy business through other strategic moves. JPMorgan in May 2023 swooped in <a href="https://www.jpmorganchase.com/ir/news/2023/jpmc-acquires-substantial-majority-of-assets-and-assumes-certain-liabilities-of-first-republic-bank">to acquire</a> the bulk of First Republic's assets after the bank became the second-largest U.S. bank failure since 2008, according to <a href="https://www.bloomberg.com/news/articles/2023-05-01/first-republic-ranks-as-second-largest-ever-us-bank-failure">Bloomberg</a>. The Federal Deposit Insurance Corp. <a href="https://www.fdic.gov/resources/resolutions/bank-failures/failed-bank-list/first-republic.html">confirmed</a> in May 2023 that First Republic was closed by California regulators and placed into receivership before JPMorgan was selected as the buyer.
<h2 class="wp-block-heading">A Lesson in Moving Fast and Adapting Faster</h2>
JPMorgan's attempt to become the &#8220;startup banker&#8221; through Capital Connect didn't land, but the bank hasn't slowed down. With over 500 bankers now working in its innovation economy group and nearly 10,000 venture-backed clients, the bank is doubling down on services, not platforms, to build long-term loyalty in the space, according to Fortune.
Capital Connect can be seen as an experiment that proved traditional finance can't always match the speed, expectations, or ethos of startup culture with technology alone.&nbsp;
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Capital Connect Crumbles: JPMorgan's $175M Bet On Startup Platform Ends Amidst Venture Capital Market Turmoil

Financial giants have made a conspicuous bearish move on JPMorgan Chase. Our analysis of options history for JPMorgan Chase (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) revealed 28 unusual trades.
Delving into the details, we found 39% of traders were bullish, while 53% showed bearish tendencies. Out of all the trades we spotted, 11 were puts, with a value of $487,513, and 17 were calls, valued at $3,328,148.
<h3>Expected Price Movements</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $220.0 to $300.0 for JPMorgan Chase over the last 3 months. 
<h3>Volume &amp; Open Interest Trends</h3>
In today's trading context, the average open interest for options of JPMorgan Chase stands at 1256.24, with a total volume reaching 5,191.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in JPMorgan Chase, situated within the strike price corridor from $220.0 to $300.0, throughout the last 30 days.
<h3>JPMorgan Chase 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1747321311_0.png" alt="Options Call Chart" />
<h3>Significant Options Trades Detected:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th align="right">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>JPM</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>08/15/25</td>
<td>$17.3</td>
<td>$16.6</td>
<td>$16.9</td>
<td>$260.00</td>
<td>$1.5M</td>
<td>647</td>
<td align="right">900</td>
</tr>
<tr>
<td>JPM</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/15/27</td>
<td>$23.5</td>
<td>$23.2</td>
<td>$23.4</td>
<td>$300.00</td>
<td>$1.1M</td>
<td>1.1K</td>
<td align="right">512</td>
</tr>
<tr>
<td>JPM</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$4.1</td>
<td>$3.95</td>
<td>$4.1</td>
<td>$260.00</td>
<td>$123.0K</td>
<td>1.7K</td>
<td align="right">317</td>
</tr>
<tr>
<td>JPM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/23/25</td>
<td>$5.85</td>
<td>$5.7</td>
<td>$5.85</td>
<td>$262.50</td>
<td>$81.8K</td>
<td>1.1K</td>
<td align="right">174</td>
</tr>
<tr>
<td>JPM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>12/19/25</td>
<td>$21.6</td>
<td>$21.45</td>
<td>$21.6</td>
<td>$270.00</td>
<td>$64.8K</td>
<td>748</td>
<td align="right">30</td>
</tr>
</tbody>
</table>

<h3>About JPMorgan Chase</h3>
JPMorgan Chase is one of the largest and most complex financial institutions in the United States, with nearly $4 trillion in assets. It is organized into four major segments: consumer and community banking, corporate and investment banking, commercial banking, and asset and wealth management. JPMorgan operates, and is subject to regulation, in multiple countries.
<h3>Where Is JPMorgan Chase Standing Right Now?</h3>
<ul>
<li>With a trading volume of 2,440,223, the price of JPM is down by -0.13%, reaching $265.31.</li>
<li>Current RSI values indicate that the stock is may be overbought.</li>
<li>Next earnings report is scheduled for 61 days from now.</li>
</ul>
<h3>Professional Analyst Ratings for JPMorgan Chase</h3>
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $305.0.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;adType=benzinga-insights&amp;ad=options-activity&amp;campaign=wallstreetadvantage">Click here for access</a>. 
&#x2A; Consistent in their evaluation, an analyst from UBS keeps a Buy rating on JPMorgan Chase with a target price of $305. 
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for JPMorgan Chase with <a href="https://www.benzinga.com/pro/">Benzinga Pro</a> for real-time alerts.

Options

JPMorgan Chase's Options Frenzy: What You Need to Know

JPMorgan's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) blockchain division, Kinexys, on Wednesday announced it has executed its first public transaction involving tokenized U.S. Treasury bonds on the Ondo Chain (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">ONDO</a>), marking a step forward in <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44456074/tokenization-will-merge-crypto-and-equities-bernstein">blockchain-based financial settlement</a>.
WHat Happened: The transaction used Ondo Finance's tokenized U.S. Treasuries Fund (OUSG) and was settled using Chainlink's (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/link/usd">LINK</a>) cross-chain infrastructure.
It represents the first public use of JPMorgan's Kinexys Digital Payments platform to trade a tokenized asset on a public ledger.
The cross-chain transaction followed a Delivery versus Payment (DvP) model, exchanging the tokenized asset on the Ondo Chain with payment settlement processed on JPMorgan's Kinexys permissioned blockchain. 
Chainlink's offchain computing system, the Chainlink Runtime Environment (CRE), coordinated the atomic execution between the two networks.
The trade was conducted on the Ondo Chain testnet, a public Layer 1 chain developed for real-world asset tokenization. 
According to the firms involved, this marks Kinexys&#8217; first public integration beyond private blockchains and the first transaction ever settled on the Ondo Chain.
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Why It Matters: Unlike traditional settlement systems that rely on fragmented infrastructure and manual processes, this cross-chain setup allowed for simultaneous exchange of the asset and payment, aiming to reduce counterparty risk and improve settlement efficiency.
JPMorgan&#8217;s Kinexys unit claims to process more than $2 billion in transactions daily and has facilitated over $1.5 trillion in notional value since inception.
Chainlink's infrastructure enabled coordination of the settlement without needing trusted intermediaries, a feature the firm said is vital for enabling compliant, institutional-grade cross-chain activity.
Ondo Finance CEO Nathan Allman <a href="https://www.prnewswire.com/news-releases/chainlink-kinexys-by-jp-morgan-and-ondo-finance-team-up-to-bring-bank-payment-rails-to-tokenized-asset-markets-302455268.html">described</a> the test as a step toward scaling blockchain settlement for real-world financial assets.
The firms said the test established groundwork for future DvP transactions across both public and permissioned networks, with broader use cases expected in cross-border payments and tokenized asset markets.
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JPMorgan Completes First Public Trade Of Tokenized Treasuries

&#8220;Shelves will be empty,&#8221; was the blunt warning delivered by the CEOs of Walmart (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>), Target (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>), and Home Depot (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HD#NYSE">HD</a>) to U.S. President Donald Trump during a private Oval Office meeting in early April.
In response to mounting pressure from retailers and economic indicators, the U.S. and China reached an agreement on May 12, to reduce tariffs for a 90-day period. Under this deal, U.S. tariffs on Chinese goods will decrease from 145% to 30%, while China&#8217;s tariffs on American imports will drop from 125% to 10%.&nbsp;
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This temporary reprieve aims to alleviate immediate economic strains and provides a window for further negotiations toward a comprehensive trade agreement.
<h2 class="wp-block-heading">Tariff Tension Shakes Retailers And Rattles Wall Street</h2>
Trump&#8217;s sweeping tariff announcement on April 2, dubbed &#8220;Liberation Day,&#8221; slapped a 145% duty on Chinese goods to revive domestic manufacturing.&nbsp;
However, the move triggered an immediate backlash from the retail and financial markets. The Dow Jones Industrial Average plunged more than 1,600 points that day, one of the worst market drops since 2020.
Speaking privately at a JPMorgan Chase (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) event later that week, Treasury Secretary Scott Bessent said, &#8220;Neither side thinks the status quo is sustainable,&#8221; referring to the escalating trade war with China according to a transcript obtained by the <a href="https://apnews.com/article/66668fa26957ece530a250fa8ea19faa">Associated Press,</a> which also quoted him calling the China talks &#8220;a slog.&#8221;&nbsp;
Trending: How do billionaires pay less in income tax than you?<a href="https://www.benzinga.com/money/tax-deferring-adv"> Tax deferring is their number one strategy</a>.
Inside the Oval Office, the tone was even more urgent. According to sources cited by<a href="https://www.cbsnews.com/news/walmart-target-trump-tariff-supply-chains/"> CBS News</a>, the CEOs – Walmart's Doug McMillont, Target's Brian Cornell, and Ted Decker of Home Depot – emphasized that while prices were stable for now, that wouldn&#8217;t last.
&#8220;The big box CEOs flat out told him [Trump] the prices aren&#8217;t going up; they&#8217;re steady right now, but they will go up. And this wasn&#8217;t about food. But he was told that the shelves will be empty,&#8221; one administration official told<a href="https://www.axios.com/2025/04/23/trump-economy-tariffs-china-powell"> Axios</a>.&nbsp;
The outlet also reported that, according to another official briefed on the meeting, the executives said supply disruptions could become visible within two weeks if the tariffs remained in place.&nbsp;
Meanwhile, the broader U.S. economy was feeling the pressure. China&#8217;s factory activity contracted significantly in April, with the country&#8217;s official Purchasing Managers&#8217; Index falling to 49.0. This signaled a slowdown in global manufacturing as U.S. orders declined, according to the <a href="https://www.stats.gov.cn/english/PressRelease/202505/t20250507_1959690.html">official survey</a> by the China Federation of Logistics and Purchasing, published on May 7 .
On the home front, the U.S. economy shrank by 0.3% in the first quarter—the first contraction in three years.
Amid this uncertainty, Trump made headlines again when he said he had &#8220;no intention&#8221; of firing Federal Reserve Chair Jerome Powell, easing concerns over central bank independence. The reassurance helped markets rebound temporarily.
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Companies were also reacting to prolonged trade tensions. In 2024, Skechers (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SKX#NYSE">SKX</a>)<a href="https://investors.skechers.com/press-releases/detail/665/skechers-agrees-to-be-acquired-by-3g-capital"> </a>&nbsp;reported $1,218.2 million in <a href="https://investors.skechers.com/financial-data/all-sec-filings/content/0000950170-25-015399/skx-ex99_1.htm">sales from China</a>—13.6% of its $8,969.4 million global revenue. The company, heavily reliant on <a href="https://investors.skechers.com/financial-data/all-sec-filings/content/0001193125-14-077061/d647920d10k.htm">Chinese imports</a>, faced rising U.S. tariffs that drove up costs and disrupted operations.&nbsp;
Skechers, alongside 75 other footwear companies including Nike and Adidas America, <a href="https://fdra.org/wp-content/uploads/2025/04/April-29-Footwear-POTUS-Letter.pdf">signed a letter</a> dated 29 April from the Footwear Distributors and Retailers of America urging President Trump to exempt shoes from reciprocal tariffs. Skechers also withdrew its full-year outlook via an April 24 <a href="https://investors.skechers.com/press-releases/detail/663/skechers-announces-first-quarter-2025-financial-results-and">press release</a>.&nbsp;
Soon after, it <a href="https://investors.skechers.com/press-releases/detail/665/skechers-agrees-to-be-acquired-by-3g-capital">announced </a>a $63-per-share cash acquisition by 3G Capital—a 30% premium—citing global brand momentum.
In response to the escalating pressure, Trump unveiled a 90-day tariff pause on April 9 for most U.S. trade partners—excluding China. This shift helped the S&amp;P 500 post its biggest one-day gain since 2008.
Still, market analysts urge caution. Sevens Report Research President Tom Essaye told<a href="https://www.marketwatch.com/story/why-the-stock-rally-may-be-in-trouble-after-the-white-house-backtracked-on-tariffs-147a4ca0"> MarketWatch</a> on May 5 that tariff reprieve may be temporary and that higher trade barriers will continue to weigh on economic growth.
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Personal Finance

Walmart, Target, Home Depot CEOs Tell Trump Prices Will Rise — 'Shelves Will Be Empty' If Tariffs Persist

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders often look for circumstances when the market estimation of an option diverges away from its normal worth. Abnormal amounts of trading activity could push option prices to hyperbolic or underperforming levels. 
Here's the list of options activity happening in today's session: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>COIN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/16/25</td>
<td>$260.00</td>
<td>$51.5K</td>
<td>2.2K</td>
<td>37.9K</td>
</tr>
<tr>
<td>SOFI</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>09/19/25</td>
<td>$15.00</td>
<td>$33.4K</td>
<td>25.7K</td>
<td>2.8K</td>
</tr>
<tr>
<td>BULL</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/16/25</td>
<td>$13.50</td>
<td>$112.8K</td>
<td>22.9K</td>
<td>2.4K</td>
</tr>
<tr>
<td>XYZ</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>05/23/25</td>
<td>$56.00</td>
<td>$26.0K</td>
<td>384</td>
<td>564</td>
</tr>
<tr>
<td>UPST</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$90.00</td>
<td>$53.2K</td>
<td>1.1K</td>
<td>506</td>
</tr>
<tr>
<td>JPM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$280.00</td>
<td>$38.8K</td>
<td>5.5K</td>
<td>233</td>
</tr>
<tr>
<td>WAL</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/16/25</td>
<td>$75.00</td>
<td>$37.6K</td>
<td>3.4K</td>
<td>210</td>
</tr>
<tr>
<td>HOOD</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/13/25</td>
<td>$50.00</td>
<td>$261.0K</td>
<td>522</td>
<td>204</td>
</tr>
<tr>
<td>WFC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>01/16/26</td>
<td>$65.00</td>
<td>$300.8K</td>
<td>10.8K</td>
<td>204</td>
</tr>
<tr>
<td>AFL</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$105.00</td>
<td>$29.2K</td>
<td>163</td>
<td>43</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These bullet-by-bullet explanations have been constructed using the accompanying table. 
• Regarding COIN (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), we observe a call option sweep with bullish sentiment. It expires in 3 day(s) on May 16, 2025. Parties traded 100 contract(s) at a $260.00 strike. This particular call needed to be split into 11 different trades to become filled. The total cost received by the writing party (or parties) was $51.5K, with a price of $515.0 per contract. There were 2244 open contracts at this strike prior to today, and today 37997 contract(s) were bought and sold. 
• For SOFI (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOFI#NASDAQ">SOFI</a>), we notice a call option sweep that happens to be bearish, expiring in 129 day(s) on September 19, 2025. This event was a transfer of 200 contract(s) at a $15.00 strike. This particular call needed to be split into 4 different trades to become filled. The total cost received by the writing party (or parties) was $33.4K, with a price of $167.0 per contract. There were 25775 open contracts at this strike prior to today, and today 2883 contract(s) were bought and sold. 
• Regarding BULL (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BULL#NASDAQ">BULL</a>), we observe a put option sweep with bearish sentiment. It expires in 3 day(s) on May 16, 2025. Parties traded 1736 contract(s) at a $13.50 strike. This particular put needed to be split into 57 different trades to become filled. The total cost received by the writing party (or parties) was $112.8K, with a price of $65.0 per contract. There were 22927 open contracts at this strike prior to today, and today 2423 contract(s) were bought and sold. 
• For XYZ (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XYZ#NYSE">XYZ</a>), we notice a call option trade that happens to be bullish, expiring in 10 day(s) on May 23, 2025. This event was a transfer of 100 contract(s) at a $56.00 strike. The total cost received by the writing party (or parties) was $26.0K, with a price of $260.0 per contract. There were 384 open contracts at this strike prior to today, and today 564 contract(s) were bought and sold. 
• Regarding UPST (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UPST#NASDAQ">UPST</a>), we observe a call option trade with bearish sentiment. It expires in 248 day(s) on January 16, 2026. Parties traded 100 contract(s) at a $90.00 strike. The total cost received by the writing party (or parties) was $53.2K, with a price of $532.0 per contract. There were 1157 open contracts at this strike prior to today, and today 506 contract(s) were bought and sold. 
• Regarding JPM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), we observe a call option sweep with bearish sentiment. It expires in 248 day(s) on January 16, 2026. Parties traded 26 contract(s) at a $280.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $38.8K, with a price of $1495.0 per contract. There were 5598 open contracts at this strike prior to today, and today 233 contract(s) were bought and sold. 
• For WAL (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAL#NYSE">WAL</a>), we notice a call option sweep that happens to be bullish, expiring in 3 day(s) on May 16, 2025. This event was a transfer of 78 contract(s) at a $75.00 strike. This particular call needed to be split into 16 different trades to become filled. The total cost received by the writing party (or parties) was $37.6K, with a price of $478.0 per contract. There were 3491 open contracts at this strike prior to today, and today 210 contract(s) were bought and sold. 
• Regarding HOOD (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>), we observe a call option sweep with bearish sentiment. It expires in 31 day(s) on June 13, 2025. Parties traded 200 contract(s) at a $50.00 strike. This particular call needed to be split into 6 different trades to become filled. The total cost received by the writing party (or parties) was $261.0K, with a price of $1305.0 per contract. There were 522 open contracts at this strike prior to today, and today 204 contract(s) were bought and sold. 
• Regarding WFC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>), we observe a call option sweep with neutral sentiment. It expires in 248 day(s) on January 16, 2026. Parties traded 200 contract(s) at a $65.00 strike. This particular call needed to be split into 6 different trades to become filled. The total cost received by the writing party (or parties) was $300.8K, with a price of $1505.0 per contract. There were 10855 open contracts at this strike prior to today, and today 204 contract(s) were bought and sold. 
• For AFL (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AFL#NYSE">AFL</a>), we notice a put option trade that happens to be bullish, expiring in 248 day(s) on January 16, 2026. This event was a transfer of 43 contract(s) at a $105.00 strike. The total cost received by the writing party (or parties) was $29.2K, with a price of $680.0 per contract. There were 163 open contracts at this strike prior to today, and today 43 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more news on unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

BULL

HOOD

SOFI

UPST

10 Financials Stocks With Whale Alerts In Today's Session

Investment banks managing Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) battery supplier CATL&#8217;s IPO, the world&#8217;s largest listing of 2025, are set to earn underwriting fees that fall below the industry standard. 
What Happened: Nine underwriters of Shenzhen-listed battery titan CATL are projected to receive a maximum of HK$238.7 million ($30.62 million). This data was shared by the Chinese firm in a securities filing earlier this week. The fixed commission on Hong Kong's largest listing of the year is just 0.2% of the funds raised—well below the industry average, according to Reuters. 
This fee is just one-third of what Chinese home appliance maker Midea paid banks last year for its nearly $4.6 billion Hong Kong listing. It's also only a quarter of the 0.8% underwriting fee that China's largest express delivery firm, S.F. Holding, paid for its $792 million secondary listing in Hong Kong last November.
The sponsors of the CATL deal—JPMorgan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), Bank of America (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>), China International Capital Corporation, and China Securities International—will each receive $300,000 for their involvement. That's roughly half the five-year market average, according to Dealogic data. Meanwhile, Goldman Sachs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>), Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>) and UBS are serving as joint global coordinators for CATL&#8217;s Hong Kong listing,
CATL may offer a 0.6% discretionary fee as an incentive. The modest fees underscore the tough environment banks face in Asia&#8217;s financial hub, even as a recent uptick in trading volumes and new listings has raised hopes for a rebound in major Chinese offerings.
SEE ALSO: <a href="https://benzinga.com/news/25/05/45314762/charlie-munger-was-once-asked-why-warren-buffett-was-so-much-richer-and-replied-he-got-an-earlier-start-before-adding-why-was-albert-einstein-poorer-than-i-was" target="_blank" rel="noreferrer noopener">Charlie Munger Was Once Asked Why Warren Buffett Was So Much Richer — He Replied, &#8216;He Got An Earlier Start,&#8217; Then Added, &#8216;Why Was Albert Einstein Poorer Than I Was?&#8217; &#8211; Benzinga</a>
Why It Matters: This development comes after <a href="https://www.benzinga.com/25/05/45343633/tesla-battery-supplier-catl-to-raise-4-billion-through-hong-kong-listing-report">CATL&#8217;s announcement</a> to raise over $4 billion through a stock listing on Hong Kong&#8217;s stock exchange. The company, a battery supplier for the Elon Musk-led Tesla Inc, aimed to raise the figure by selling over 117.9 million shares priced at HK$263 ($33.75).
CATL&#8217;s offering has seen strong demand and was oversubscribed multiple times since its launch on Monday, attracting interest from sovereign wealth funds and global long-only investors, according to a book message reviewed by Reuters.
Earlier in April, CATL had&nbsp;<a href="https://www.benzinga.com/markets/25/04/44894382/tesla-battery-supplier-catl-unveils-new-fast-charging-battery-with-323-mile-range-in-five-minutes">launched</a>&nbsp;the second-generation ‘Shenxing&#8217; fast-charging battery, which can power over 67 new EVs this year. The battery enables a range of 520 km or approximately 323 miles on a 5-minute charge, and can also be charged from 0% to 80% in 15 minutes in cold weather.
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<li>READ MORE: <a href="https://benzinga.com/markets/cryptocurrency/25/05/45354990/scottie-pippen-declares-altcoin-season-as-ethereum-xrp-dogecoin-shiba-inu-rally" target="_blank" rel="noreferrer noopener">Scottie Pippen Declares &#8216;Altcoin Season&#8217; As Ethereum, XRP, Dogecoin, Shiba Inu Rally &#8211; Benzinga</a></li>
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Image via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

IPOs

Tech

TSLA

Tesla Supplier CATL Sets Modest Underwriting Fees For World's Biggest IPO Of 2025

WIIM

ALLY

ARES

FITB

HBAN

NTRS

SCHW

SPGI

TROW

Shares of banks and financial services stocks are higher after the US and China agreed to a temporary reduction in most tariffs on each other's goods. A reduction in tariffs could alleviate macro uncertainty in the lending and deal environment.

JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) CEO Jamie Dimon has emerged as a critical voice on President Donald Trump&#8216;s tariff policies, acknowledging legitimate concerns while cautioning against excessive measures that could isolate the U.S. economy.
What Happened: &#8220;I thought it was too large, too big and too aggressive when it started,&#8221; Dimon <a href="https://www.youtube.com/watch?v=lG0pOnTWJEY">told</a> Fox in an interview released Thursday, describing Trump&#8217;s initial tariff approach as part of a &#8220;master plan to get people to the table.&#8221;
Despite these reservations, the Wall Street veteran defended the administration&#8217;s fundamental goal. &#8220;It&#8217;s ok to say if it&#8217;s unfair [and] we want to fix it,&#8221; Dimon stated, suggesting the White House is justified in addressing perceived trade imbalances.
See Also: <a href="https://www.benzinga.com/government/regulations/25/05/45331065/the-trade-desk-ceo-slams-google-amazons-walled-gardens-imagine-what-we-can-do-in-a-fair-market">The Trade Desk CEO Slams Google, Amazon&#8217;s &#8216;Walled Gardens&#8217;: &#8216;Imagine What We Can Do In A Fair Market&#8217;</a>
Why It Matters: Dimon&#8217;s comments come amid <a href="https://www.benzinga.com/markets/25/05/45333895/gop-megadonor-ken-griffin-warns-trump-tariffs-are-terrifying-says-government-is-picking-winners-and-losers-amid-soaring-trade-deficit">escalating market concerns about tariff impacts</a>. Citadel founder Ken Griffin recently warned that the policies had &#8220;unleashed an era of crony capitalism,&#8221; while JPM itself raised recession odds to 60% from 40%, citing supply-chain disruptions. Major ports report Chinese shipments have &#8220;essentially ceased.&#8221;
The banking executive, <a href="https://www.benzinga.com/personal-finance/25/04/44968496/theyre-probably-going-to-live-to-120-jpmorgans-jamie-dimon-says-gen-z-should-stop-worrying-and-start-building-a-better-future">who earned $39 million in 2024</a>, has maintained that tariffs would likely prove only &#8220;modestly inflationary&#8221; with potential to deliver &#8220;good stuff&#8221; for the economy. 
Regarding the recent U.K.-U.S. trade agreement, Dimon welcomed progress while noting it represents just a preliminary step. &#8220;Any progress is good,&#8221; he said, also expressing satisfaction with improving relations with China, Japan and Taiwan.
When asked what advice he would offer Trump, Dimon recommended: &#8220;Keep doing what you&#8217;re doing now&#8221; on border security, while encouraging focus on immigration reform, pro-growth policies, deregulation and tax reform. On tariffs, he advised: &#8220;Just make progress now, country by country, tariff by tariff.&#8221;
Read Next: 
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<li><a href="https://www.benzinga.com/government/regulations/25/05/45330282/fed-stays-put-trump-touts-uk-trade-deal-bitcoin-booms-past-100k-stagflation-fears-rise-this-week-in-markets">Fed Stays Put, Trump Touts UK Trade Deal, Bitcoin Booms Past $100K, Stagflation Fears Rise: This Week In Markets</a></li>
</ul>
Image Via Shutterstock 
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Jamie Dimon Says Trump's Tariffs Were 'Too Aggressive,' Warns US Risks Going It Alone Without Measured Trade Strategy

Citadel founder Ken Griffin is sounding the alarm on President Donald Trump&#8216;s tariff policies, warning they have &#8220;unleashed an era of crony capitalism&#8221; where the government picks &#8220;winners and losers&#8221; in the economy.
What Happened: &#8220;Tariffs open the doors to crony capitalism,&#8221; Griffin <a href="https://www.politico.com/news/2025/05/08/griffin-trump-tariffs-milken-wall-street-00335374">told</a> Politico at the Milken Institute&#8217;s Global Conference. &#8220;I thought that would play out over the course of years. It&#8217;s terrifying to watch this play out over the course of weeks.&#8221;
The hedge fund billionaire&#8217;s criticism reflects growing concerns among Wall Street executives that the escalating trade war could derail economic growth despite the administration&#8217;s promises of prosperity. His comments come as the U.S. grapples with a <a href="https://www.benzinga.com/government/regulations/25/05/45317301/5-treasury-yields-could-force-trump-to-slash-tariffs-in-q2-says-bofas-hartnett">record $140 billion trade deficit in March</a>.
Griffin, a longtime GOP megadonor, expressed particular concern about the administration&#8217;s selective exemptions for certain industries. The dollar&#8217;s recent decline, he noted, will soon weaken American consumer purchasing power.
&#8220;Whether it&#8217;s a flat-screen TV or a new laptop, your dollar is just not going to go as far,&#8221; Griffin said. &#8220;This starts unfolding in the next couple weeks.&#8221;
See Also: <a href="https://www.benzinga.com/government/regulations/25/05/45330282/fed-stays-put-trump-touts-uk-trade-deal-bitcoin-booms-past-100k-stagflation-fears-rise-this-week-in-markets">Fed Stays Put, Trump Touts UK Trade Deal, Bitcoin Booms Past $100K, Stagflation Fears Rise: This Week In Markets</a>
Why It Matters: Bank of America&#8216;s chief investment strategist Michael Hartnett predicts tariffs may be reduced this quarter, warning that Treasury yields above 5% could jeopardize the deficit-financed growth strategy. JPMorgan Chase recently raised its recession odds to 60% from 40%, <a href="https://www.benzinga.com/government/regulations/25/05/45317301/5-treasury-yields-could-force-trump-to-slash-tariffs-in-q2-says-bofas-hartnett">citing supply-chain disruptions</a>.
The impact is already being felt across sectors. Ford Motor Co. CEO Jim Farley announced tariffs could cost the automaker $1.5 billion, forcing the company to withdraw its earnings guidance. Major ports report Chinese shipments have &#8220;essentially ceased,&#8221; with retailers facing five to seven weeks of <a href="https://www.benzinga.com/tech/25/05/45217767/ford-ceo-jim-farley-says-trumps-tariffs-could-cost-ford-1-5-billion-pulls-its-earnings-guidance">inventory before shortages emerge</a>.
Despite these concerns, some Trump allies remain optimistic. Former presidential adviser Gary Cohn told Milken Conference attendees, &#8220;We&#8217;ve lived through depressions. We&#8217;ve lived through recessions&#8230; Every time, when we thought it was really bad, it got a lot better.&#8221;
For Griffin, who has previously criticized Trump, the risk is clear: &#8220;We all want to see the president succeed&#8230; There&#8217;s that fine line between constructive criticism and just being toxic.&#8221;
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Image Via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

GOP Megadonor Ken Griffin Warns Trump Tariffs Are 'Terrifying,' Says Government Is Picking 'Winners And Losers' Amid Soaring Trade Deficit

The <a href="https://www.benzinga.com/economics/macro-economic-events/25/05/45164558/us-adds-177000-jobs-in-april-topping-forecasts-as-economy-navigates-tariff-impact">April U.S. employment report </a>brought a welcome economic balancing act. Nonfarm payrolls increased by 177,000, beating comfortably the 130,000 forecast by economists and almost doubling the 90,000 predicted by Kalshi betting markets. 
Average hourly earnings, however, slowed to 0.2% month-over-month from 0.3% in March, barely missing consensus forecasts.
The outcome? A tight labor market without overheating provides the Federal Reserve and markets a bit more room to breathe. For the financial sector in particular, an unusually favorable balance of stability and opportunity has emerged from the current conditions.
Also Read: <a href="https://www.benzinga.com/etfs/sector-etfs/25/05/45328557/targets-self-checkout-flip-flop-isnt-helping-after-a-66-value-crash-are-retail-etfs-ringing-up-t">Target&#8217;s Self-Checkout Flip-Flop Isn&#8217;t Helping After A 66% Value Crash: Are Retail ETFs Ringing Up The Real Risk?</a>
<h1 class="wp-block-heading">ETF Watch: Who Wins?</h1>
With job growth still being maintained but wage pressures dissipating, a number of <a href="https://www.benzinga.com/etfs">financial sector ETFs</a> may ride the macro tailwinds:
Financial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>)
The heavyweight of financial ETFs, XLF follows blue-chip stocks such as JPMorgan Chase &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), Wells Fargo &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>), and Goldman Sachs Group Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>). Sectoral employment growth in financial activities (continued growth in April) indicates underlying strength, and subdued wage growth increases profitability and cools inflation risk, a net benefit to big banks with wide exposure.
SPDR S&amp;P Bank ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KBE#NYSE">KBE</a>) Thie ETF provides equal-weighted exposure to large as well as regional banks. With the slower wage growth, consumer spending might be hit, forcing prices down (read: inflation). The Fed might consider continuing the pause, or even turn back on, rate increases. Regional banks could feel the boost of a rebound in loan demand and reduced funding costs.
Invesco KBW High Dividend Yield Financial ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KBWD#NASDAQ">KBWD</a>) This ETF has a tilt toward high-yielding financials such as REITs and business development companies. Lower inflation expectations render its dividend-rich holdings more appealing in real terms, while decelerating wage inflation contributes to supporting payout sustainability.
<h1 class="wp-block-heading">Why This Labor Market Arrangement Works For Financials</h1>
The market response isn&#8217;t all about employment numbers, it&#8217;s about the &#8220;goldilocks&#8221; combination they generate.
<ul class="wp-block-list">
<li>Reduced Inflation Expectations: Slower wage growth typically means softer consumer spending, which then lowers inflationary pressure. That&#8217;s a good thing for banks, which rely on stable inflation to inform lending decisions and determine interest rate margins.</li>
<li>More Favorable Rate Outlook: If the Fed perceives wages moderating, it might delay further rate increases, or even begin lowering them. For banks, declining interest rates can fuel a flood of new consumer debt, mortgage requests and corporate loans — the stuff of bank profits.</li>
<li>Firming Corporate Margins: Slower wage growth equals lower input costs. That&#8217;s a good thing for banks, and any financial institution with exposure to corporate bonds or equity markets, too. Higher margins lower credit risk and increase investment returns.</li>
<li>Lower Labor Costs: Yes, even the financial industry experiences wage pressure. With labor expenses stabilizing, internal margins rise, providing CFOs and asset managers with more room to breathe. </li>
</ul>
The Macro Signal: Stability Without Stagnation
April&#8217;s figures indicate a labor market that&#8217;s strong in all the right areas. Health care, transportation, and finance created jobs, while government payrolls declined as it restructures. The unemployment rate remained at 4.2%, indicating labor demand remains robust, even as the Fed&#8217;s inflation battle slows the wage engine.
For investors, it is time to re-examine where the smart money goes next. With an economy that continues to grow but inflation retrenches, financial ETFs might be quietly positioning for outperformance — particularly those well-situated to profit from increasing credit activity, more stable margins, and leaner labor expenses.
The market did not roar following the jobs report — but it did not need to. For financials, a subtle beat might reverberate louder than any rally.
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Photo: NicoElNino via Shutterstock.com

KBWD

Jobs Up, Wages Down: Financial ETFs May Have Just Found Their Sweet Spot

On CNBC's &#8220;<a href="https://www.cnbc.com/video/2025/05/07/final-trades-shake-shack-wynn-resorts-spotify-and-the-iyf.html">Halftime Report Final Trades</a>,&#8221; Bill Baruch, President of Blue Line Capital, said Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) has been the dog of the Nasdaq and it is going to <a href="https://in.benzinga.com/25/04/45117886/microsoft-q3-earnings-highlights-revenue-beat-eps-beat-cloud-revenue-up-20">start outperforming</a>.
Supporting his view, Microsoft, on April 30, reported better-than-expected third-quarter financial results. The company reported third-quarter revenue of $70.07 billion, up 13% year-over-year. The revenue total beat a Street consensus estimate of $68.43 billion according to data from Benzinga Pro. Microsoft said it sees fourth-quarter sales of $73.150 billion to $74.250 billion, versus market estimates of $72.28 billion.
Stephen Weiss, Chief Investment Officer of Short Hills Capital Partners, said information technology company Leidos Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LDOS#NYSE">LDOS</a>) was the winner in that space.
Leidos Holdings, on May 6, reported first-quarter revenue growth of 7% year-over-year to $4.25 billion. It beat the analyst consensus estimate of $4.1 billion. The company&#8217;s adjusted EPS was $2.97, up 30% Y/Y, beating the analyst consensus estimate of $2.50.
Don't forget to check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
Kari Firestone, Chair Emerita of Aureus Asset Management, named Blackstone Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>) as her final trade, saying the group is down roughly 30% and they are starting to move higher.
Lending support to her choice, Blackstone, on April 17, reported stronger-than-expected first-quarter financial results.
Joshua Brown, CEO of Ritholtz Wealth Management, picked JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) as his final trade.
On the earnings front, JPMorgan Chase, on April 11, reported better-than-expected first-quarter EPS and revenues.
Price Action:
<ul class="wp-block-list">
<li>Microsoft shares climbed 1.1% to close at $438.17 on Thursday.</li>
<li>Leidos shares slipped 0.01% to settle at $154.71 during Thursday's session.</li>
<li>Blackstone shares rose 2.7% to close at $139.81 on Thursday.</li>
<li>JPMorgan shares climbed 1.6% to settle at $253.47.</li>
</ul>
Check This Out: 
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</ul>
Image: Shutterstock

LDOS

MSFT

Microsoft, Blackstone, Leidos And A Big US Bank: CNBC's 'Final Trades'

The Federal Reserve kept interest rates steady Wednesday between 4.25% and 4.50%, marking the third consecutive pause in rate policy and extending the wait for potential homebuyers seeking relief from elevated mortgage costs.
What Happened: Housing market participants hoping for signs of mortgage rate relief were disappointed as Fed Chairman Jerome Powell emphasized that no further action on interest rate cuts will be taken until sufficient economic data supports such moves, <a href="https://www.thestreet.com/real-estate/another-pause-in-fed-interest-rate-cuts-may-disappoint-homebuyers?ref=biztoc.com">reported</a> The Street. 
The decision comes as recent mortgage applications <a href="https://www.benzinga.com/news/econ-s/25/04/45022780/high-mortgage-rates-economic-uncertainty-rain-on-spring-home-buying-season">plunged 12.7% </a>and existing home sales fell 5.9% in March, according to the Mortgage Bankers Association and National Association of Realtors data.
&#8220;The financial hurdles to owning a home have rarely been higher, especially for young households that don&#8217;t yet have their foot in the door,&#8221; said BMO, according to the report. This reality is reflected in the record-high median first-time homebuyer age, which reached 38 last year.
See Also: <a href="https://www.benzinga.com/trading-ideas/movers/25/05/45307459/pope-leo-xiv-themed-memecoins-surge-after-us-born-robert-francis-prevost-becomes-romes-new-bishop">Pope Leo XIV-Themed Memecoins Surge After US-Born Robert Francis Prevost Becomes Rome&#8217;s New Bishop</a>
Why It Matters: The 30-year fixed mortgage rate recently stood at 6.90%, up from 6.81% the previous week and reaching the highest level in two months. This marks a dramatic increase from the 3.5% rates seen before 2022&#8217;s spike to nearly 7%, which effectively ended the Covid-era housing boom, the report noted.
Market watchers now look toward potential rate cuts later this year, with CME FedWatch forecasting a 51.1% chance of a reduction in July. However, JPMorgan Chase &amp; Co. analysts remain pessimistic, predicting the housing market will stay <a href="https://www.benzinga.com/news/econ-s/25/02/43977811/mortgage-rates-drop-to-lowest-levels-since-december-but-housing-market-remains-largely-stuck">&#8220;largely stuck&#8221;</a> through <a href="https://www.benzinga.com/news/econ-s/25/02/43977811/mortgage-rates-drop-to-lowest-levels-since-december-but-housing-market-remains-largely-stuck">2025 unless mortgage rates approach 5%</a>.
The Fed noted in its statement that &#8220;uncertainty about the economic outlook has increased further&#8221; and &#8220;risks of higher unemployment and higher inflation have risen,&#8221; introducing new cautionary language that <a href="https://www.benzinga.com/economics/macro-economic-events/25/05/45263291/fed-keeps-rates-steady-warns-of-rising-uncertainty-about-the-economic-outlook">suggests continued policy restraint</a>.
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image Via Shutterstock

Federal Reserve

Real Estate

'Financial Hurdles To Owning A Home Have Rarely Been Higher,' Says BMO As Fed Holds Rates, Extending Wait For Homebuyers

According to the latest data, zero-day-to-expiration (0DTE) options hit record high volumes this week, a sign that &#8220;risk appetite is skyrocketing,&#8221; say market observers.
What Happened: On Thursday night, popular investment newsletter The Kobeissi Letter shared a chart on X, made by options research firm Tier1 Alpha, illustrating the sharp rise in zero-day-to-expiration (0DTE) S&amp;P 500 option volumes in recent years.
The chart shows 0DTE volumes as a share of the total S&amp;P 500 option volumes, touching a staggering new high of 67% on Tuesday this week, &#8220;an all-time high.&#8221;
Zero-day-to-expiration (0DTE) options are contracts on stocks or indexes that expire on the same day they are traded, making them a popular tool for short-term speculation and intraday strategies.
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The post highlights the growing popularity of these risky, ultra-short-term trading instruments, stating that their volume share has more than doubled over the past three years. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Risk appetite is skyrocketing: 0DTE options volume reflected 67% of total options volume on Tuesday, an all-time high. Over the last 3 years, the volume share of these risky trading instruments has more than DOUBLED. In Q1 2025, the average daily trading volume of 0DTE… <a href="https://t.co/LQF7mLEf5i">pic.twitter.com/LQF7mLEf5i</a>
&mdash; The Kobeissi Letter (@KobeissiLetter) <a href="https://twitter.com/KobeissiLetter/status/1920621989342892423?ref_src=twsrc%5Etfw">May 8, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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During the first quarter of 2025, the average daily volumes of 0DTE options contracts exceeded 2 million, &#8220;for the first time in history,&#8221; it says. The post notes that average daily 0DTE volumes stood at just 400,000 in the first quarter of 2022, not 400 million (which is a typo), marking a fivefold increase over the past three years.
It ends by stating that &#8220;Risk appetite has completely flipped.&#8221;
Why It Matters: The Vice President of Derivatives Market Intelligence at CBOE Global Markets Inc. (BATS:<a class="ticker" href="https://www.benzinga.com/stock/CBOE#BATS">CBOE</a>), Henry Schwartz, recently said <a href="https://www.benzinga.com/partner/news/25/05/45222085/zero-day-options-priced-appropriately-despite-market-volatility-insights-from-cboe-webinar-with-benz">during a Benzinga Webinar</a> this week that 0DTE options tend to be priced appropriately for current market conditions. &#8220;The options market is a pretty efficient marketplace, things are generally priced right,&#8221; he said.
Others, such as JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) analysts, <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/03/31230564/jpmorgan-analysts-believe-these-options-could-turn-a-5-market-fall-into-a-deadly-di">have expressed concerns</a> that the rising popularity of 0DTE options could potentially exacerbate intraday market declines.
Photo Courtesy: Gsign76 On Shutterstock.com
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A Sign Of 'Skyrocketing' Risk Appetite? One-Day Option Trades Explode In Popularity

"Shark Tank" star Kevin O&#8217;Leary isn&#8217;t sounding the alarms just yet. In an April 23 <a href="https://www.linkedin.com/posts/kevinolearytv_weve-been-talking-about-recession-now-for-activity-7320501285084884994-k4eS">LinkedIn post</a>, O&#8217;Leary addressed concerns about a looming recession, calling them overblown. &#8220;Markets correct 20% all the time,&#8221; he said, framing current volatility as business as usual rather than a red flag.&nbsp;
O&#8217;Leary stressed that despite four years of recession predictions, the economy remains stable — and he views the current downturn as a potential &#8220;buying opportunity&#8221; for smart investors.
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<h2 class="wp-block-heading">O&#8217;Leary Says Recession Fears Are Overstated</h2>
In the post, O&#8217;Leary challenged ongoing forecasts suggesting a 32% to 55% probability of a U.S. recession.&nbsp;
He stated, &#8220;We&#8217;ve been talking about recession now for four years in a row. Forecasters of recession have been wrong for four years straight.&#8221; According to O&#8217;Leary, the U.S. economy continues to perform solidly despite geopolitical uncertainty and fluctuating projections.
Much of the recent market anxiety, he argued, stems from tariff battles, particularly with China. He believes agreements with countries like the UK, Canada, and Mexico could reach a resolution soon, potentially easing pressures.
<h2 class="wp-block-heading">Trade Tensions Stir Up New Risks</h2>
O'Leary&#8217;s focus on trade echoes broader concerns across industries. Flexport CEO Ryan Petersen warned in an April 17<a href="https://x.com/typesfast/status/1912890256216695002?s=46&amp;t=Zwy9eX0Ffr9Jz93VyJtadg"> X post</a>, &#8220;Thousands and then millions of American small businesses, including many iconic brands, will go bankrupt this year if the tariff policies on China don&#8217;t change.&#8221;&nbsp;
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Technology firms are also feeling the heat. Companies like Alphabet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>, GOOGL)) <a href="https://www.youtube.com/watch?v=SySgINoaI9A">posted better-than-expected Q1 earnings</a> amid tariff fears, signaling cautious optimism in the sector.&nbsp;
For now, the biggest hurdle remains finalizing an agreement with China over intellectual property rights, market access and World Trade Organization policies.
<h2 class="wp-block-heading">S&amp;P 500 Drops Could Signal Deals</h2>
Rather than panicking over recent dips, O&#8217;Leary sees an opportunity.<a href="https://x.com/kevinolearytv/status/1908656664167014544"> On X</a>, he shared that historical data shows the S&amp;P 500 often rebounds after corrections, describing it as &#8220;nothing new for the S&amp;P 500&#8221; and &#8220;a buying opportunity.&#8221;
Current valuations may support his outlook. According to <a href="https://ycharts.com/indicators/sp_500_pe_ratio_forward_estimate">YCharts</a>, the forward price-to-earnings ratio for the S&amp;P 500 has slipped from 20.48 a year ago to 18.05 in April, suggesting a market pullback could offer discounted entry points for long-term investors.
O&#8217;Leary emphasized that the S&amp;P 500&#8217;s tradition of bouncing back, with long-term annual returns between 8% and 10%, is likely to continue even amid trade headwinds.
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<h2 class="wp-block-heading">Institutions Hedge Their Bets</h2>
Despite O&#8217;Leary&#8217;s optimism, some major financial institutions remain cautious. JPMorgan Chase (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) has <a href="https://www.jpmorgan.com/insights/global-research/economy/recession-probability">lifted </a>its U.S. recession probability to 60% in 2025, citing sweeping tariffs by the Trump administration.
Meanwhile, the <a href="https://www.conference-board.org/research/us-forecast?">Conference Board</a> maintained that while trade tensions weigh on growth, the U.S. could avoid a full-blown recession due to strong underlying fundamentals.
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