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JPMorgan Chase

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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Jamie Dimon sobre la IA: cómo cambiará empleos y reducirá la carga laboral

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Jamie Dimon y Elon Musk han resuelto sus diferencias. Dimon expresa su disposición a apoyar sus empresas y proyectos.

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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

J P Morgan Chase & Co Depositary Shares, each representing a 1/400th interest in a share of 4.55% Non-Cumulative Preferred Stock, Series JJ

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

J P Morgan Chase & Co Depositary Shares, each representing a 1/400th interest in a share of 4.20% Non-Cumulative Preferred Stock, Series MM

WIIM

ALLY

HOOD

SOFI

Shares of companies in the broader financial services sector are trading lower amid overall market uncertainty after president Trump confirmed Mar 4 tariffs.

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>SOFI</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/16/25</td>
<td>$16.00</td>
<td>$53.8K</td>
<td>3.3K</td>
<td>6.2K</td>
</tr>
<tr>
<td>PYPL</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>03/07/25</td>
<td>$71.00</td>
<td>$26.8K</td>
<td>5.3K</td>
<td>2.7K</td>
</tr>
<tr>
<td>C</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/16/25</td>
<td>$80.00</td>
<td>$329.2K</td>
<td>46.8K</td>
<td>1.2K</td>
</tr>
<tr>
<td>IBKR</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>03/21/25</td>
<td>$210.00</td>
<td>$46.3K</td>
<td>1.1K</td>
<td>300</td>
</tr>
<tr>
<td>COIN</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>12/19/25</td>
<td>$2.50</td>
<td>$109.6K</td>
<td>249</td>
<td>227</td>
</tr>
<tr>
<td>JPM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$360.00</td>
<td>$35.7K</td>
<td>1.5K</td>
<td>150</td>
</tr>
<tr>
<td>WFC</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$80.00</td>
<td>$38.7K</td>
<td>11.6K</td>
<td>143</td>
</tr>
<tr>
<td>MA</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>01/15/27</td>
<td>$400.00</td>
<td>$72.8K</td>
<td>16</td>
<td>70</td>
</tr>
<tr>
<td>BK</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/15/27</td>
<td>$87.50</td>
<td>$49.6K</td>
<td>41</td>
<td>32</td>
</tr>
<tr>
<td>AXP</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$270.00</td>
<td>$42.8K</td>
<td>381</td>
<td>31</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These bullet-by-bullet explanations have been constructed using the accompanying table. 
• 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 bullish, expiring in 74 day(s) on May 16, 2025. This event was a transfer of 448 contract(s) at a $16.00 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 $53.8K, with a price of $120.0 per contract. There were 3331 open contracts at this strike prior to today, and today 6230 contract(s) were bought and sold. 
• Regarding PYPL (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>), we observe a call option trade with bullish sentiment. It expires in 4 day(s) on March 7, 2025. Parties traded 200 contract(s) at a $71.00 strike. The total cost received by the writing party (or parties) was $26.8K, with a price of $134.0 per contract. There were 5322 open contracts at this strike prior to today, and today 2757 contract(s) were bought and sold. 
• For C (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>), we notice a call option sweep that happens to be bullish, expiring in 74 day(s) on May 16, 2025. This event was a transfer of 823 contract(s) at a $80.00 strike. This particular call needed to be split into 5 different trades to become filled. The total cost received by the writing party (or parties) was $329.2K, with a price of $400.0 per contract. There were 46813 open contracts at this strike prior to today, and today 1233 contract(s) were bought and sold. 
• Regarding IBKR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBKR#NASDAQ">IBKR</a>), we observe a put option trade with bullish sentiment. It expires in 18 day(s) on March 21, 2025. Parties traded 61 contract(s) at a $210.00 strike. The total cost received by the writing party (or parties) was $46.3K, with a price of $760.0 per contract. There were 1117 open contracts at this strike prior to today, and today 300 contract(s) were bought and sold. 
• For COIN (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), we notice a call option trade that happens to be bullish, expiring in 291 day(s) on December 19, 2025. This event was a transfer of 5 contract(s) at a $2.50 strike. The total cost received by the writing party (or parties) was $109.6K, with a price of $21930.0 per contract. There were 249 open contracts at this strike prior to today, and today 227 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 bullish sentiment. It expires in 319 day(s) on January 16, 2026. Parties traded 150 contract(s) at a $360.00 strike. This particular call needed to be split into 5 different trades to become filled. The total cost received by the writing party (or parties) was $35.7K, with a price of $238.0 per contract. There were 1509 open contracts at this strike prior to today, and today 150 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 trade with bearish sentiment. It expires in 109 day(s) on June 20, 2025. Parties traded 87 contract(s) at a $80.00 strike. The total cost received by the writing party (or parties) was $38.7K, with a price of $445.0 per contract. There were 11662 open contracts at this strike prior to today, and today 143 contract(s) were bought and sold. 
• Regarding MA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MA#NYSE">MA</a>), we observe a put option trade with neutral sentiment. It expires in 683 day(s) on January 15, 2027. Parties traded 70 contract(s) at a $400.00 strike. The total cost received by the writing party (or parties) was $72.8K, with a price of $1040.0 per contract. There were 16 open contracts at this strike prior to today, and today 70 contract(s) were bought and sold. 
• For BK (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BK#NYSE">BK</a>), we notice a call option sweep that happens to be bullish, expiring in 683 day(s) on January 15, 2027. This event was a transfer of 32 contract(s) at a $87.50 strike. This particular call needed to be split into 20 different trades to become filled. The total cost received by the writing party (or parties) was $49.6K, with a price of $1550.0 per contract. There were 41 open contracts at this strike prior to today, and today 32 contract(s) were bought and sold. 
• For AXP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>), we notice a put option sweep that happens to be bullish, expiring in 319 day(s) on January 16, 2026. This event was a transfer of 30 contract(s) at a $270.00 strike. This particular put needed to be split into 8 different trades to become filled. The total cost received by the writing party (or parties) was $42.8K, with a price of $1428.0 per contract. There were 381 open contracts at this strike prior to today, and today 31 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 about unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Options

COIN

IBKR

PYPL

10 Financials Stocks Whale Activity In Today's Session

JPMorgan Chase (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) CEO Jamie Dimon isn&#8217;t afraid to give his opinion about government inefficiency. <a href="https://www.reuters.com/world/us/jpmorgan-chief-dimon-praises-former-adversary-elon-musk-cnbc-reports-2025-01-22/">He believes </a>the <a href="https://www.benzinga.com/startups/25/02/43463099/donald-trumps-25-tariff-plan-only-tough-measures-will-level-the-playing-field-kevin-oleary-explains-the-strategy">Trump</a> administration&#8217;s Department of Government Efficiency is on the right path—cut out wasteful spending, streamline processes, and get things running more efficiently.&nbsp;
While proponents claim DOGE is cutting out wasteful spending, critics claim that it&#8217;s wreaking havoc, threatening essential services, and facing major legal hurdles.
<h2 class="wp-block-heading">Is DOGE Really Cutting Costs or Just Stirring Up Trouble?</h2>
According to <a href="https://www.theguardian.com/us-news/2025/feb/25/doge-cost-cutting-musk">The Guardian</a>, DOGE has canceled over 1,100 federal contracts, but nearly 40% of those cuts didn't actually save any money. Some of the contracts had already been paid out or were legally protected, meaning the cancellations didn't make a difference.&nbsp;
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Even worse, DOGE's own <a href="https://www.nytimes.com/2025/02/18/upshot/doge-contracts-musk-trump.html">financial reports were found to be exaggerated</a>—one contract initially touted as an $8 billion reduction turned out to be just $8 million. If these numbers are off, what else might be?
Meanwhile, inside government agencies, not everyone is on board. <a href="https://www.wsj.com/politics/policy/doge-elon-musk-employee-resignations-ec5c5f72">The Wall Street Journal</a> reported that at least 21 federal employees—including data scientists and engineers—have quit in protest. They argue that DOGE's aggressive cuts are putting critical services at risk, slashing budgets without a clear plan for how essential operations will continue.&nbsp;
Trending: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing —<a href="https://www.benzinga.com/money/boxabl"> you can become an investor for $0.80 per share today.</a>
It's not just individual employees pushing back—entire agencies are feeling the heat. Take the Social Security Administration, for example.&nbsp;
When its acting commissioner, Michelle King, resigned after resisting DOGE's financial scrutiny, the agency shut down two offices. According to <a href="https://www.thebaltimorebanner.com/economy/social-security-close-civil-rights-doge-A3WNRL67JFBBDJABPOQIAUBHYE/">The Baltimore Banner</a>, this left about 200 employees in limbo and raised concerns about potential service disruptions for millions of Americans who rely on SSA programs.
Then there's the legal mess. DOGE is facing lawsuits, with government watchdogs and unions arguing that its actions are overstepping legal boundaries.&nbsp;
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<a href="https://www.reuters.com/world/us/is-elon-musks-government-efficiency-drive-legal-2025-02-05/">Reuters</a> reported that one of the biggest issues is DOGE's demand that federal employees disclose personal financial details—a move critics say violates privacy laws. Questions are also swirling about whether the initiative even has the legal authority to make some of its sweeping changes.
Back in the ‘90s, the Clinton administration launched the "<a href="https://vdoc.pub/documents/building-the-virtual-state-information-technology-and-institutional-change-2kvfrth52ltg">Reinventing Government" initiative</a>, led by Al Gore.&nbsp;
It successfully cut costs while keeping bipartisan support and maintaining stability. According to t<a href="https://apnews.com/article/a95795eb75cacc03734ef0065c1b0a6d">he Associated Press</a>, the difference between then and now is that Gore's effort relied on careful planning and collaboration—something critics say <a href="https://www.benzinga.com/news/25/02/43853560/we-are-not-waste-education-researchers-slam-elon-musks-881-million-cuts-that-shut-down-studies-on-student-learning-and-school-data">DOGE </a>is missing.
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JPMorgan CEO Jamie Dimon Talks DOGE, Efficiency, And Trump's Regulatory Changes – 'We've Become A Bureaucratic Mess'

Microsoft (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) CEO Satya Nadella is <a href="https://www.youtube.com/watch?v=4GLSzuYXh6w">making an important distinction</a> between "knowledge work" and "knowledge workers" as <a href="https://www.benzinga.com/news/25/02/43903135/ais-19-9-trillion-impact-could-create-the-first-trillionaire-but-mark-cuban-says-it-wont-be-musk-or-bezos">artificial intelligence</a> continues to reshape industries.&nbsp;
He recently said he sees AI as a tool that will redefine cognitive labor, but not in a way that makes human workers irrelevant. Instead, much like past technological shifts—think fax machines giving way to email—AI will change how people work rather than replace them.
<h2 class="wp-block-heading">How AI Is Reshaping Knowledge Work</h2>
Nadella's perspective is pretty straightforward: AI isn't about taking jobs away, it's about shifting how we approach them. He compares AI's impact to the way spreadsheets revolutionized accounting or how email made communication faster. Those tools didn't make workers obsolete—they made work more efficient.&nbsp;
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AI, he argues, will follow the same pattern by handling repetitive, time-consuming tasks so that employees can focus on the big-picture thinking.
And it's already happening. A recent <a href="https://www.pwc.com/gx/en/issues/artificial-intelligence/ai-jobs-barometer.html">PwC</a> survey found that 84% of CEOs who have adopted AI say it's improving employee efficiency. Plus, 70% expect AI to significantly transform business operations within the next three years.
Despite these benefits, the fear of job loss looms large. But data suggests that AI isn't a job killer—it's a job shifter. According to the <a href="https://www.bls.gov/careeroutlook/2025/article/fastest-growing-industry-sector.htm">U.S. Bureau of Labor Statistics</a>, employment in professional, scientific, and technical services is projected to grow by 10.5% from 2023 to 2033, outpacing the national average. While AI might automate routine tasks, it's also creating new opportunities for people with strong digital skills.
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Nadella envisions a workplace where AI takes care of the tedious stuff, freeing up workers for more meaningful work. "Let an AI agent triage my email," he said, "but after having triaged my email, give me a higher-level cognitive labor task."&nbsp;
His vision lines up with a <a href="https://www.microsoft.com/en-us/worklab/work-trend-index/ai-at-work-is-here-now-comes-the-hard-part">Microsoft</a> research, which found that 75% of global knowledge workers are already using AI, with nearly half adopting it in just the past six months.
One sector already making this shift is banking. <a href="https://www.wsj.com/tech/ai/jpmorgan-chase-artificial-intelligence-banking-939b1b32">The Wall Street Journal</a> recently reported that JPMorgan Chase (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) is using AI to streamline client briefings and automate legal documentation. Teresa Heitsenrether, the bank's chief data and analytics officer, emphasized that AI is boosting productivity rather than replacing employees.
Still, Nadella stresses that AI isn't a magic solution. While it can handle repetitive tasks, human workers are still needed to guide and refine its output. The <a href="https://www.thetimes.com/business-money/entrepreneurs/article/it-is-not-replacing-people-it-is-supercharging-people-enterprise-network-3j3r6mggq">Times</a> of London reported that this balance—where AI supports rather than replaces<a href="https://www.benzinga.com/startups/25/02/43681931/googles-ai-ambitions-spark-cost-cuts-over-25000-employees-offered-buyouts-as-company-focuses-on-speed-and-efficiency"> employees</a>—ensures that businesses can maximize productivity without sidelining human expertise.
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MSFT

Satya Nadella Says AI Agents Will Replace 'Knowledge Work'—But There's One Role Humans Will Always Need To Play

JP Morgan CEO Jamie Dimon Says We Have 450 Use Cases For AI Now, It Could Go Up To 1,000 Use Cases By Next Year

JPMorgan Chase's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) short percent of float has risen 7.77% since its last report. The company recently reported that it has 31.01 million shares sold short, which is 1.11% of all regular shares that are available for trading. Based on its trading volume, it would take traders 4.4 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock?adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest?adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">List of the most shorted stocks</a>
<h3>JPMorgan Chase Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1740748516_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for JPMorgan Chase has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing JPMorgan Chase's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>, JPMorgan Chase's peer group average for short interest as a percentage of float is 1.16%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze?adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Trading Ideas

Peering Into JPMorgan Chase's Recent Short Interest

Mortgage rates are coming down to the lowest levels since last December, but demand for home loans has stalled. Here's a look at what the experts are forecasting<a href="https://www.benzinga.com/real-estate/25/02/43731246/a-recipe-for-market-instability-fed-chief-powell-predicts-mortgages-wont-be-available-in-some-regions-but-it-has-nothing-to-do-rates"> for the year ahead.&nbsp;</a>
What To Know: The average interest rate for 30-year fixed-rate mortgages continued to decline to 6.88% in the week ended Feb. 21, down from 6.93% in the previous week. According to the Mortgage Bankers Association, last week's <a href="https://www.mba.org/news-and-research/newsroom/news/2025/02/26/mortgage-applications-decrease-in-latest-mba-weekly-survey">average rate</a> marks a new low since December 2024 and compares to 7.03% from the same period last year.&nbsp;
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"Treasury yields moved lower on softer consumer spending data as consumers are feeling somewhat less upbeat about the economy and job market. This pushed mortgage rates lower, with the 30-year fixed rate decreasing to 6.88 percent, the lowest rate since mid-December," said Joel Kan, MBA's Vice President and Deputy Chief Economist.&nbsp;
Though mortgage rates are slowly coming down, demand for home loans remains weak. MBA data show applications to refinance a home loan fell 4% for the week and <a href="https://www.benzinga.com/25/02/43873151/mortgage-rates">existing home sales</a> in the U.S. sank by 4.9% in January, the sharpest decline in seven months. 
Analysts at JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) see the housing market <a href="https://www.jpmorgan.com/insights/global-research/real-estate/us-housing-market-outlook">to remain </a>"largely stuck" through 2025 as interest rates and home prices both remain high. 
"The situation is not going to change until we get mortgage rates back down toward 5%, or even lower," said John Sim, head of Securitized Products Research at J.P. Morgan.
"And we aren't forecasting mortgage rates to breach 6% in 2025 — they should ease only slightly to 6.7% by the year end," Sim added.&nbsp;
Read Next:
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<li><a href="https://www.benzinga.com/government/regulations/25/02/43903335/financial-crime-weekly-1-4-billion-ethereum-stolen-in-largest-crypto-hack-ever-sec-creates-cyber-and-emerging-technologies-unit">Financial Crime Weekly: $1.4 Billion Ethereum Stolen In Largest Crypto Hack Ever, SEC Creates Cyber And Emerging Technologies Unit</a></li>
</ul>
Image: Shutterstock

Bonds

Econ #s

Economics

Real Estate

Mortgage Rates Drop To Lowest Levels Since December, But Housing Market Remains 'Largely Stuck'

Asset Sales

CTLP

Cantaloupe Working With Bankers At JPMorgan Chase To Explore Options, Including Sale

JPMorgan Chase (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) CEO Jamie Dimon has voiced criticism over the efficiency of the U.S. government and shown support for the Department of Government Efficiency (DOGE) overseen by Elon Musk.
What Happened: In an interview with <a href="https://www.cnbc.com/2025/02/24/jamie-dimon-us-government-inefficient-touts-elon-musk-doge-effort.html">CNBC</a>&#8216;s Leslie Picker on Monday, Dimon labeled the government as &#8220;inefficient&#8221; and &#8220;not very competent,&#8221; implying that it &#8220;needs a lot of work.&#8221; Although he didn&#8217;t provide a clear-cut response about his stance on DOGE&#8217;s initiatives, his remarks suggested a general endorsement.
Dimon also mentioned the Trump administration&#8217;s initiatives to cut spending and closely examine federal agencies, stating such actions &#8220;need to be done.&#8221; He underscored the need for building appropriate policies and procedures and questioned the benefits derived from government spending.
While Dimon expressed support for DOGE&#8217;s cost-cutting initiatives, he also cautioned against any potential overreach or illegal activities, stating that &#8220;the courts will stop it.&#8221; Nevertheless, Dimon added, "I'm hoping it's quite successful.&#8221;
SEE ALSO: <a href="https://www.benzinga.com/trading-ideas/movers/25/02/43930754/bitcoin-ethereum-dogecoin-bleed-amid-trumps-tariff-threat-bybit-mega-breach-analyst-says-mid-bull-reset-not-unprecedented-full-blown-bear-market-not-yet-here">Bitcoin, Ethereum, Dogecoin Bleed Amid Trump&#8217;s Tariff Threat, Bybit Mega Breach: Analyst Says &#8216;Mid-Bull Reset&#8217; Not Unprecedented, Full-Blown Bear Market Not Yet Here</a>
Why It Matters: Dimon&#8217;s comments come in the backdrop of his recent reconciliation with Elon Musk, CEO of Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>). In late January, Dimon referred to <a href="https://www.benzinga.com/startups/25/01/43339032/jamie-dimon-calls-elon-musk-our-einstein-after-years-of-feuds-weve-hugged-it-out-and-settled-differences-at-tech-summit">Musk as &#8216;Our Einstein&#8217;</a> after years of public feuds and legal disputes. The two reportedly &#8220;hugged it out&#8221; and settled their differences at a tech summit.
The JPMorgan CEO has also expressed his support for President Donald Trump&#8216;s tariff policy, previously. In January, he had told CNBC, that the upcoming tariffs by the Trump administration could be seen in a positive light. "If it's a little inflationary but it's good for national security, so be it. I mean, get over it," Dimon had said. 
Jamie Dimon recently courted controversy after he <a href="https://www.benzinga.com/markets/equities/25/02/43757032/jamie-dimon-goes-off-on-return-to-office-critics-you-dont-have-to-work-at-jpmorgan">condemned remote work</a>, arguing that it hinders creativity and negatively impacts the social and professional development of younger employees. 
Notably, while the JPMorgan CEO has voiced his support for Musk&#8217;s DOGE initiative, several others have criticized the transparency and working of DOGE. A <a href="https://www.benzinga.com/markets/25/02/43906977/elon-musks-doge-savings-of-55-billion-may-be-overstated-wsj-analysis-reveals-the-likely-actual-figure">recent analysis by WSJ</a> also revealed that the savings mentioned on the DOGE website could be overstated. 
<ul>
<li>READ MORE: <a href="https://www.benzinga.com/personal-finance/25/02/43929806/dave-ramsey-says-its-very-difficult-to-trust-someone-in-pajamas-on-a-zoom-call-admits-hes-the-crotchety-old-boss">Dave Ramsey Says &#8216;It&#8217;s Very Difficult To Trust Someone In Pajamas On A Zoom Call&#8217;—Admits He&#8217;s &#8216;The Crotchety Old Boss&#8217;</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.

Tech

Jamie Dimon Slams 'Inefficient' US Government, Backs Elon Musk's DOGE Initiative

JP Morgan's Chase Chief Product Officer Calls For 'More Hustle' From Workers Amid Uncertainty Over Return To Office; Executive Tells Staff To 'Be Scrappy' And Solve More Problems

Macro Economic Events

Global

Live On CNBC, J.P Morgan CEO Jamie Dimon, On Tariffs, Says If It's Used To Protect National Security, That Is Paramount, And That Transcends If It Causes A Little Inflation

Live On CNBC, J.P Morgan CEO Jamie Dimon Says We See Consumers Are Kind Of Back, Almost Going To Normal

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 2.72% on an annualized basis producing an average annual return of 17.88%. Currently, JPMorgan Chase has a market capitalization of $740.30 billion. 
Buying $1000 In JPM: If an investor had bought $1000 of JPM stock 5 years ago, it would be worth $2,177.14 today based on a price of $264.76 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/2025/1740409209_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.

$1000 Invested In JPMorgan Chase 5 Years Ago Would Be Worth This Much Today

J.P. Morgan dedicates balance sheet and adds co-lenders to provide private credit to clients
J.P. Morgan announced today at its 30th annual <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.jpmorgan.com%2Finvestment-banking%2Fdebt-capital-markets%23conferences&amp;esheet=54212050&amp;newsitemid=20250224176509&amp;lan=en-US&amp;anchor=Global+Leveraged+Finance+Conference&amp;index=1&amp;md5=d9a173b884864c4d1131a98380090129">Global Leveraged Finance Conference</a> a significant expansion to its private credit commitment. The firm is allocating $50 billion from its balance sheet, along with nearly $15 billion from multiple co-lenders. This strategic move is designed to extend the firm's direct lending capabilities and provide tailored private credit solutions to meet the evolving needs of clients.

Financing

J.P. Morgan Increases Direct Lending Commitment To $50B

The Bank of Montreal launched five new exchange-traded notes (ETNs) Thursday, expanding its range of leveraged and <a href="https://www.benzinga.com/topic/leveraged-etfs">inverse investment products</a>. 
The Canadian banking firm has also been quietly ramping up its Bitcoin ETF holdings, reflecting a growing interest in the cryptocurrency market.
For the uninitiated, ETNs are mostly <a href="https://www.benzinga.com/etfs">similar to ETFs</a>. The difference is they invest in debt like bonds. Also, they attract lesser taxes because they do not pay dividends.
Also Read: <a href="https://www.benzinga.com/etfs/new-etfs/25/02/43862680/roundhill-launches-weeklypay-etfs-with-5-funds-offering-enhanced-payouts">Roundhill Launches WeeklyPay ETFs With 5 Funds Offering Enhanced Payouts</a>
<h2 class="wp-block-heading">A Fresh Lineup Of Leveraged And Inverse ETNs</h2>
BMO's latest ETNs target the <a href="https://www.nasdaq.com/press-release/bmo-and-rex-shares-launch-us-big-banks-and-us-big-oil-leveraged-inverse-leveraged">energy </a>sector through the Solactive MicroSectors U.S. Big Oil Index, which consists of major oil players such as Exxon Mobil (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>), Valero Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VLO#NYSE">VLO</a>), Phillips 66 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSX#NYSE">PSX</a>), Occidental Petroleum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>), and Chevron (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>). The bank has introduced two ETNs for investors with opposing market views:
MicroSectors U.S. Big Oil 3X Leveraged ETNs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NRGU#NYSE">NRGU</a>), which seeks to generate three times the daily return of the index, and MicroSectors U.S. Big Oil -3X Inverse Leveraged ETNs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NRGD#NYSE">NRGD</a>), which provides the inverse, delivering negative three times the index's daily movement.
These products allow investors to make tactical bets on the energy market, especially as oil prices remain highly sensitive to geopolitical and economic changes.
BMO hasn&#8217;t left the financial sector behind, with new leveraged and inverse ETNs tied to the Solactive MicroSectors U.S. Big Banks Index. This index tracks heavyweights such as JPMorgan Chase (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), 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>), Citigroup (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>), and Bank of America.
The MicroSectors U.S. Big Banks 3X Leveraged ETNs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BNKU#NYSE">BNKU</a>) provides three times the daily return of the index. On the other hand, the MicroSectors U.S. Big Banks -3X Inverse Leveraged ETNs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BNKD#NYSE">BNKD</a>) moves in the opposite direction, offering negative three times the daily performance.
<h2 class="wp-block-heading">BMO's Growing Crypto Bet</h2>
BMO has also recently made a significant push into Bitcoin ETFs. According to a February <a href="https://www.binance.com/en/square/post/20289730836265">report </a>from Binance, which cited an SEC filing by BMO, the bank has upped its Bitcoin ETF holdings from $13 million to $150 million, a staggering 1053.85% increase in just one quarter.
Regulatory filings submitted to the U.S. SEC on January 13 revealed that BMO had allocated $139 million to BlackRock's iShares Bitcoin ETFs, with the remaining $11 million divided among ETFs from ARK 21Shares, Grayscale, and Fidelity.
The leveraged and inverse ETNs cater to active traders looking for higher exposure to high-momentum sectors, while the Bitcoin ETF investment signals institutional optimism in crypto's long-term potential.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/etfs/specialty-etfs/25/02/43888012/apples-in-house-modem-chip-sparks-qualcomm-concerns-3-etfs-with-key-exposure">Apple&#8217;s In-House Modem Chip Sparks Qualcomm Concerns: 3 ETFs With Key Exposure</a></li>
</ul>
Photo: Shutterstock

New ETFs

ETFs

BNKD

BNKU

NRGD

NRGU

Bank Of Montreal Expands Investment Offerings With New ETNs, Bitcoin Bet

ARES

DOMH

EMCG

FCNCA

RILY

ROOT

STEP

Shares of companies within the broader financial sector are trading lower amid overall market weakness. Investors may be evaluating the risk of inflation as the retail sector shows early signs of a weaker consumer.

Charlie Javice, the founder of student loan start-up Frank, is reportedly standing trial this week for allegedly defrauding JP Morgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>)<a href="https://www.benzinga.com/markets/equities/25/02/43757032/jamie-dimon-goes-off-on-return-to-office-critics-you-dont-have-to-work-at-jpmorgan" target="_blank" rel="noreferrer noopener"> in a $175 million acquisition deal.</a>
Her defense team claims that the bank is using its influence over prosecutors to turn a commercial dispute into a criminal case, The Financial Times <a target="_blank" href="https://www.ft.com/content/39c3fef9-edd0-42b6-b136-d9dbea5828d5" rel="noreferrer noopener">reports</a>.
Javice was arrested in 2023 for fraud, accused of misleading JPMorgan into believing her company had 4.25 million users, when it had only about 10% of that number.
In 2021, JPMorgan paid $175 million for Frank, a company designed to help students apply for financial aid. Javice and her co-defendant, Olivier Amar, are accused of hiring a data scientist to falsify user numbers, the report adds.
Also Read: <a target="_blank" href="https://www.benzinga.com/25/02/43778720/renaissance-technologies-founded-by-math-whiz-jim-simons-makes-ai-focused-portfolio-changes-slashes-palantir-exits-alphabet-smci-and-adds-alibaba-jd-tsm-robinhood-in-q4" rel="noreferrer noopener">Jim Simons&#8217; Renaissance Technologies Makes AI Moves: Sells Big Tech, Buys Chinese Stocks, Robinhood In Q4</a>
This trial has drawn attention to JPMorgan&#8217;s decision, which CEO Jamie Dimon called a &#8220;huge mistake,&#8221; despite the bank&#8217;s massive profits, The Financial Times adds.
The case has parallels to other high-profile fraud cases, such as Elizabeth Holmes and Sam Bankman-Fried.
The prosecution also noted that Javice had previously discussed convicted fraudsters like Holmes with her co-defendant, reflecting her awareness of the consequences.
Javice&#8217;s defense may focus on a distinction about what counts as a &#8220;signed up&#8221; student, and the trial is expected to last four weeks.
Price Action: JPM shares are trading higher by 0.89% to $279.06 at last check Tuesday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/25/02/43790512/ex-acting-faa-administrator-calls-for-urgent-air-traffic-control-overhaul-report" target="_blank" rel="noreferrer noopener">Ex-Acting FAA Administrator Calls for Urgent Air Traffic Control Overhaul: Report</a></li>
</ul>
Image via Shutterstock.

Legal

Movers

Media

General

JPMorgan, Charlie Javice Case Takes Center Stage In Court This Week: Report

Deep-pocketed investors have adopted a bearish approach towards JPMorgan Chase (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in JPM usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 33 extraordinary options activities for JPMorgan Chase. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 39% leaning bullish and 45% bearish. Among these notable options, 12 are puts, totaling $726,650, and 21 are calls, amounting to $1,024,331.
<h3>Predicted Price Range</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $170.0 to $300.0 for JPMorgan Chase during the past quarter. 
<h3>Insights into Volume &amp; Open Interest</h3>
In today's trading context, the average open interest for options of JPMorgan Chase stands at 1876.36, with a total volume reaching 5,205.00. 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 $170.0 to $300.0, throughout the last 30 days.
<h3>JPMorgan Chase Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1739901639_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>BEARISH</td>
<td>12/18/26</td>
<td>$79.3</td>
<td>$78.25</td>
<td>$78.25</td>
<td>$220.00</td>
<td>$258.2K</td>
<td>182</td>
<td align="right">33</td>
</tr>
<tr>
<td>JPM</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>03/21/25</td>
<td>$2.98</td>
<td>$2.92</td>
<td>$2.98</td>
<td>$270.00</td>
<td>$149.0K</td>
<td>2.2K</td>
<td align="right">760</td>
</tr>
<tr>
<td>JPM</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>04/17/25</td>
<td>$12.7</td>
<td>$12.5</td>
<td>$12.65</td>
<td>$285.00</td>
<td>$126.5K</td>
<td>127</td>
<td align="right">261</td>
</tr>
<tr>
<td>JPM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>03/21/25</td>
<td>$12.8</td>
<td>$12.6</td>
<td>$12.71</td>
<td>$270.00</td>
<td>$95.2K</td>
<td>5.1K</td>
<td align="right">96</td>
</tr>
<tr>
<td>JPM</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>06/20/25</td>
<td>$23.0</td>
<td>$22.65</td>
<td>$22.85</td>
<td>$265.00</td>
<td>$68.5K</td>
<td>2.3K</td>
<td align="right">16</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>Present Market Standing of JPMorgan Chase</h3>
<ul>
<li>Currently trading with a volume of 2,888,377, the JPM's price is up by 0.8%, now at $278.8. </li>
<li>RSI readings suggest the stock is currently may be overbought.</li>
<li>Anticipated earnings release is in 52 days.</li>
</ul>
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;utm_source=benzinga-insights">Click here for access</a>.
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://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

Behind the Scenes of JPMorgan Chase's Latest Options Trends

Former U.S. Secretary of Labor Robert Reich has called out the tax reduction plans of the Donald Trump-led administration in an X post, terming them as an &#8220;absolutely shameless giveaway,&#8221; that could shoot up the deficit by $4.6 trillion.
What Happened: The possible tax cuts for rich individuals and lower corporate tax rates are likely to widen the U.S. trade deficit, which the Trump 2.0 administration would most likely fund from the tariffs imposed on its trading partners.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Trump wants to extend his tax cuts for rich individuals, which would add $4.6T to the deficit. But he wants to go even further, cutting the corporate tax rate to 15%. It&#39;s yet another absolutely shameless giveaway. <a href="https://t.co/mkAWOFkkUd">pic.twitter.com/mkAWOFkkUd</a>
&mdash; Robert Reich (@RBReich) <a href="https://twitter.com/RBReich/status/1891623719304339516?ref_src=twsrc%5Etfw">February 17, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The data from the Center For American Progress Action Fund or CAPAF shows that cutting the corporate tax rate down to 15% would save all sectors and companies billions of dollars in tax.
<ul>
<li>Top 100 U.S. Companies: Can expect a total annual tax cut of $48 billion despite reporting $1.1 trillion in profits in their 2023 annual report.</li>
</ul>
<ul>
<li>Top 10 U.S. Companies: Reported more than $520 billion in profits according to their 2023 annual report can expect an annual tax cut of $23 billion. These include firms like Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), Comcast Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>), and JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>).</li>
</ul>
<ul>
<li>Oil: The five largest U.S. oil companies, including Exxon Mobil Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>), Chevron Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>), Marathon Petroleum Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MPC#NYSE">MPC</a>), Phillips 66 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSX#NYSE">PSX</a>), and Valero Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VLO#NYSE">VLO</a>) will receive an estimated $2.2 billion annual tax cut, despite over $80 billion in profits.</li>
</ul>
<ul>
<li>Pharma: The five largest U.S. drug makers, Johnson &amp; Johnson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>), Merck &amp; Co Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>), Pfizer Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>), AbbVie Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>) and Bristol-Myers Squibb Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) will receive an estimated $3.1 billion annual tax cut, despite over $50 billion in profits.</li>
</ul>
<ul>
<li>Banking: The five largest Wall Street banks, JPMorgan Chase, Bank of America Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>), Citigroup Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>), Wells Fargo &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>) and Goldman Sachs Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) will receive an estimated $4.1 billion annual tax cut, despite nearly $113 billion in profits.</li>
</ul>
<ul>
<li>Grocery: The five largest grocery companies, Kroger Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>), Costco Wholesale Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COST#NASDAQ">COST</a>), Albertsons Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACI#NYSE">ACI</a>), Target Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) and Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) will receive an estimated $1.7 billion annual tax cut, despite over $29 billion in profits.</li>
</ul>
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/02/43763438/trump-acting-like-a-mafia-don-says-this-economist-as-uncertainty-mounts-businesses-hold-back-in-fear-of-unforeseen-economic-shifts">Trump &#8216;Acting Like A Mafia Don,&#8217; Says This Economist As Uncertainty Mounts, Businesses Hold Back In Fear Of Unforeseen Economic Shifts</a>
Why It Matters: Trump has threatened all its trading partners with &#8220;reciprocal tariffs,&#8221; while already having implemented 25% on steel and aluminum imports.
According to economists like Craig Shapiro, who is a macro strategist at the Bear Traps Report, tariffs are the "<a href="https://www.benzinga.com/25/02/43587245/tariffs-are-the-only-way-to-fund-tax-cuts-without-deficit-expansion-argues-expert-as-it-takes-center-stage-in-donald-trumps-economic-plan">only way</a>" to fund tax cuts without expanding the federal deficit. 
Shapiro likened Trump&#8217;s governance to that of a &#8220;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/02/43763438/trump-acting-like-a-mafia-don-says-this-economist-as-uncertainty-mounts-businesses-hold-back-in-fear-of-unforeseen-economic-shifts">Mafia Don</a>,&#8221; saying businesses are now uncertain about the economy&#8217;s direction. He noted fading &#8220;initial euphoria&#8221; and a &#8220;wait-and-see&#8221; approach from business leaders due to unclear policies, tariffs, trade agreement uncertainty, and fluctuating government spending. &#8211;
Price Action: On Friday, the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) which track the S&amp;P 500 and Nasdaq 100 indices, closed mixed. SPY fell 0.0049% to a value of $609.7, and QQQ was up by 0.42% to end at a value of $538.15, according to Benzinga Pro data.
Read Next:
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<li><a href="https://www.benzinga.com/general/market-summary/25/02/43773441/ahead-of-gamestops-bitcoin-purchase-plans-blackrock-morgan-stanley-goldman-sachs-and-other-billion-dollar-funds-load-up-on-gme-stock-in-q4">Ahead Of GameStop&#8217;s Bitcoin Purchase Plans, BlackRock, Morgan Stanley, Goldman Sachs, And Other Billion Dollar Funds Load Up On GME Stock In Q4</a></li>
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Photo courtesy: Shutterstock

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JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) CEO Jamie Dimon recently advised employees to view artificial intelligence-driven job elimination as beneficial, telling workers that &#8220;attrition is your friend.&#8221; 
What Happened: The comments came during a wide-ranging town hall in Columbus, Ohio, last week that included his now-viral criticism of remote work, according to audio recordings <a href="https://www.businessinsider.com/jamie-dimon-wfh-comments-jpmorgan-town-hall-cfpb-ai-attrition-2025-2">obtained</a> by Business Insider.
&#8220;It&#8217;ll change some of your jobs — for a lot of you it will be a copilot, for a lot of you it will take away the drudgery, and it may very well eliminate jobs, too,&#8221; Dimon said regarding artificial intelligence. He suggested the bank could &#8220;retrain and reskill and redeploy people&#8221; affected by automation.
See Also: <a href="https://www.benzinga.com/25/02/43761150/bitcoin-ethereum-dogecoin-dip-as-investors-hunt-for-volatility-amid-dull-weekend-heres-why-this-analyst-thinks-blindly-longing-the-btc-range-lows-may-not-be-a-good-idea">Bitcoin, Ethereum, Dogecoin Dip As Investors Seek Volatility Over A Dull Weekend: Analyst Thinks &#8216;Blindly&#8217; Longing The BTC Range Lows May Not Be A Good Idea</a>
Why It Matters: The town hall gained attention after Dimon&#8217;s comments against remote work spread on social media. A TikTok video posted by Barron&#8217;s garnered 2.4 million views, featuring Dimon&#8217;s colorful dismissal of <a href="https://www.benzinga.com/markets/equities/25/02/43757032/jamie-dimon-goes-off-on-return-to-office-critics-you-dont-have-to-work-at-jpmorgan">work-from-home Fridays</a>.
&#8220;Don&#8217;t give me this shit that work-from-home-Friday works,&#8221; Dimon told employees. &#8220;I call a lot of people on Fridays, and there&#8217;s not a goddamn person you can get a hold of.&#8221;
Dimon also admitted the bank had failed to keep pace with fintech innovations and even trailed some competitors. &#8220;Bank America does something better than us. Shocking, I know,&#8221; he said, noting they &#8220;were ahead of us in digital.&#8221;
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/25/02/43761300/intel-could-be-split-in-two-as-broadcom-and-tsmc-explore-deals-trump-white-house-resists-foreign-ownership-report">Intel Could Be Split In Two As Broadcom And TSMC Explore Deals, Trump White House Resists Foreign Ownership: Report</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 AI Will Change Your Jobs, But It May 'Eliminate' Some Careers As Well: Reskill, And Redeploy People

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