Market Minute ⏱️ 4/14/26: Big Finance Delivers Big Profits

Mike Larson | Editor-in-Chief

Stocks staged a solid intraday rally yesterday, though they’re subdued in the early going today. Ditto for Treasuries. Crude oil is dipping a bit along with the US dollar, while gold and silver are rising.

The parade of earnings from “Big Finance” is continuing today, with JPMorgan Chase & Co. (JPM) reporting Q1 earnings of $16.5 billion, or $5.94 per share. That topped estimates for $5.43 in EPS. Capital markets-focused businesses performed exceptionally well, with investment banking fees surging 28% and trading revenue rising 20%.

JPM, WFC (YTD % Change)

Still, Chase stock has stagnated in 2026 amid broader credit concerns. CEO Jamie Dimon’s warning of an “increasingly complex set of risks” is keeping a lid on JPM shares today, too. Meanwhile, competitor Wells Fargo & Co. (WFC) delivered modestly disappointing net interest and noninterest income – while also reporting a 22% rise in loan-loss provisions.

Everyone knows oil and gas prices are higher because of the Middle East conflict. But the enormous divergence between futures and spot market prices is a story that hasn’t gotten as much notice. Both WTI and Brent futures prices slid during the day yesterday, settling under $100 a barrel. But physical oil buyers are paying more than $130 to secure barrels in the shorter term for reasons this Wall Street Journal story covers.

Meanwhile, the Strait of Hormuz blockade that President Trump just implemented could drive up global demand for US-produced oil and LNG. The tracking firm Kpler says roughly 70 Very Large Crude Carriers (VLCCs) are headed to Gulf Coast export facilities – up from an average of 27 per month in 2025. That’s good news for US producers and their shareholders. But if more domestic production gets diverted to foreign markets, it could drive US product prices (think gasoline) higher.

Lastly, Bloomberg is reporting that United Airlines Holdings Inc. (UAL) has considered linking up with American Airlines Group Inc. (AAL). If the two companies were to combine, it would create the largest airline on the planet – with $100 billion-plus in annual revenue and more than 2,800 airplanes. Given enormous antitrust concerns, however, any proposed deal would face significant headwinds.

Suminski: How Covered Call and Mean Reversion Options Strategies Can Work for YOU

We Just Wrapped Up in Hollywood. Now, Join Us in Dallas!

We just wrapped up our MoneyShow event in Hollywood – and my head is still spinning. Hundreds of investors and traders got powerful portfolio guidance from dozens of the nation’s top market minds. And we ALL had a great time connecting, networking, and swapping ideas.

If you were a part of it, you know how incredible it was. If you WEREN’T, don’t miss your next opportunity for live and lively in-person learning. It’s coming up May 14-16 – at the 2026 MoneyShow Masters Symposium Dallas! And you can claim a pass today here...

• FNV: A Core Holding in the Precious Metals Space
  👉️ TICKER: FNV
  Franco-Nevada Corp. (FNV) just held its annual investor day. The company laid out its strengths, including consistent returns, disciplined capital management, financial flexibility, and its adaptable approach, highlights Adrian Day, editor of Global Analyst.

• FR: A REIT Sporting Solid FFO Growth Plus a Nice Dividend
  👉️ TICKER: FR
  First Industrial Realty Trust Inc. (FR) is a leading owner, operator, and developer of industrial real estate with a solid track record. Expected FFO growth of 6% and the dividend yield of 3.3% could lead to total annual returns of 8.2%, advises Ben Reynolds, editor of Top 10 REITs.

🏙️ 📈 Get unique market insights and actionable recommendations for this “New World Order” – at the 2026 MoneyShow Masters Symposium Dallas! Click HERE for your pass to the May 14-16 event.

🛢️💰ConocoPhillips vs. EOG: 1 of These Energy Stocks Is Cheaper and Pays You More. Which One? (Barchart)