{"id":3469,"date":"2026-07-15T09:42:19","date_gmt":"2026-07-15T09:42:19","guid":{"rendered":"https:\/\/crosscountrymovingteams.com\/?p=3469"},"modified":"2026-07-15T09:42:19","modified_gmt":"2026-07-15T09:42:19","slug":"close-to-as-good-as-it-gets-jamie-dimon-just-offered-another-warning-on-bubbly-markets-as-wall-street-had-a-monster-quarter","status":"publish","type":"post","link":"https:\/\/crosscountrymovingteams.com\/?p=3469","title":{"rendered":"\u2018Close to as good as it gets\u2019: Jamie Dimon just offered another warning on bubbly markets as Wall Street had a monster quarter"},"content":{"rendered":"
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\u201cIt\u2019s getting close to as good as it gets,\u201d Dimon told Wall Street analysts after announcing results for the second quarter of 2026. \u201cWe just don\u2019t know how long it\u2019s going to last.\u201d<\/p>\n

Read more A leadership consultant\u2019s warning to managers: Don\u2019t mistake grief for underperformance<\/a><\/p>\n

It was Dimon\u2019s second warning of the day. Ahead of the call, in remarks tied to the bank\u2019s earnings results, he said risk is \u201cshifting below the surface like tectonic plates\u201d, citing geopolitical wars, sticky inflation and global fiscal deficits, in particular.<\/p>\n

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But the results underpinning those warnings were the best JPMorgan has ever posted, including second-quarter net income of $21.2 billion, or $7.70 a share, lifted by a $4.6 billion gain on its Visa stake. Core profit, stripping out one-time items, was still $16.9 billion, or $6.14 a share, well above Wall Street\u2019s $5.80 estimate.\u00a0<\/p>\n

Rival Goldman Sachs beat even bigger, netting $6.63 billion and diluted earnings per share of $20.98\u2014up 92% year over year\u2014exceeding the $14.54 analysts expected. Its revenue of $20.34 billion jumped 39% higher than a year ago as well. Both banks played a role in SpaceX\u2019s historic IPO, but Goldman CEO David Solomon told CNBC that SpaceX was \u201cimmaterial\u201d to the bank\u2019s earnings showing.\u00a0<\/p>\n

The banks\u2019 earnings landed on a market already on edge.\u00a0<\/p>\n

Oil surged again Tuesday\u2014Brent climbed to above $87 a barrel\u2014after President Trump said the U.S. was \u201creinstating\u201d a blockade on Iranian shipping through the Strait of Hormuz, escalating a conflict that has run for more than a week and included U.S. strikes on Iranian targets. However, inflation slowed to 3.5%, beating expectations and offering some relief to consumers ahead of a momentous Federal Reserve decision in late July.\u00a0\u00a0<\/p>\n

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This wasn\u2019t the first time the banking titan reacted uneasily to things going well.\u00a0<\/p>\n

Read more What is dwelling coverage in home insurance?<\/a><\/p>\n

In late May, Dimon told a gathering of the leaders of the world\u2019s largest companies and top-tier financial analysts that markets were \u201cgung ho\u201d, but that it reminded him of the same excitement before financial crashes like the 2008 recession.<\/p>\n

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\u201cThere\u2019s a lot of exuberance out there,\u201d Dimon said. \u201cBut it was in 1972, 1986, 2000, 2007. That doesn\u2019t give me comfort.\u201d Needless to say, historic crashes followed each of those exuberant periods. <\/p>\n

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That same market activity of buoyant investors seemed to power JPMorgan and Goldman\u2019s blowout quarterly results because exuberance often translates into revenue lines for those big banks. When clients trade more, issue stock, sell companies or chase financing, the two competing banks collect fees. That\u2019s why Dimon\u2019s caution cuts both ways: the same investor enthusiasm that can raise fears of an overheated market can also produce profits for JPMorgan and Goldman, which benefit when trading and dealmaking surge.\u00a0<\/p>\n

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The terms has echoed in financial history ever since former Fed chair Alan Greenspan uttered the phrase \u201cirrational exuberance\u201d in 1996, although he told Fortune<\/em> all the way back in 1959 that \u201cover-exuberance\u201d was an issue of concern in markets. <\/p>\n

Read more New experimental Alzheimer\u2019s drug shows potential after study shows slower cognitive decline<\/a><\/p>\n

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JPMorgan and Goldman Sachs posted record profits Tuesday even as Iran tensions sent oil surging, with investors shrugged off the chaos as Jamie Dimon warned of risks<\/p>\n","protected":false},"author":1,"featured_media":3468,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[436],"tags":[],"class_list":["post-3469","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-jpmorgan-chase"],"yoast_head":"\n\u2018Close to as good as it gets\u2019: Jamie Dimon just offered another warning on bubbly markets as Wall Street had a monster quarter - Cross Country Moving Team<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/crosscountrymovingteams.com\/?p=3469\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"\u2018Close to as good as it gets\u2019: Jamie Dimon just offered another warning on bubbly markets as Wall Street had a monster quarter - 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