Recurring series

US Market Intelligence Morning Briefing

Finvaulta tracks 56 editions of US Market Intelligence Morning Briefing from J.P. Morgan, published between May 11, 2026 and September 4, 2026. Each edition is summarized on its own page.

Latest edition · September 4, 2026

JPM US Market Intelligence | Morning Briefing

J.P. Morgan Market Intelligence maintains a Tactically Cautious / Neutral stance ahead of the August NFP report and upcoming CPI release. While underlying economic fundamentals and earnings remain solid, near-term seasonality, momentum factor unwinds, and Fed policy uncertainty suggest choppy sideways markets.

In this morning briefing, J.P. Morgan's US Market Intelligence desk outlines its Tactically Cautious / Neutral stance for equities ahead of the August employment data and next week's CPI release. JPM economist Michael Feroli projects August payroll additions of 50k and a 4.1% unemployment rate, with the desk identifying a 30k–70k range as 'Goldilocks' for equity markets. Nevertheless, the desk highlights that CPI remains the paramount catalyst for the September 16 Fed meeting. In response to recent momentum drawdowns and seasonal headwinds, the desk recommends a long NDX vs. short RTY stance, favoring Mag7, Software, Large-Cap Banks, and Healthcare while hedging via short Credit ETFs and long VIX products.

Read the latest edition in full

Key takeaways from the latest edition

1.JPM Market Intel maintains a Tactically Cautious / Neutral stance, arguing that solid economic and earnings fundamentals will be overshadowed by choppy trading over the next 2-3 weeks amid Fed uncertainty and unfavorable seasonality.
2.For the August Nonfarm Payrolls (NFP), J.P. Morgan economist Michael Feroli projects +50k jobs and a 4.1% unemployment rate against consensus of +55k, with desk scenario analysis framing 30k–70k as the 'Goldilocks' range.
3.Next week's CPI print is viewed as a significantly more crucial catalyst than NFP for the September FOMC decision, as the labor market is seen as near full employment without generating excessive wage-driven inflation.

What this series covers

IDEAS & INSIGHTS – IN BRIEF
JPM MARKET INTEL MORNING UPDATES
CATALYSTS TODAY (WEEK AHEAD)
JPM MARKET INTEL EQUITY & MACRO NARRATIVE
THOUGHTS ON RATES
US MKT INTEL THOUGHTS ON ISM-SRVCS
OUR THOUGHTS ON THE FED POST WALLER SPEECH
JPM MKT INTEL: NFP SCENARIO ANALYSIS
US MKT INTEL VIEW – We published below in the Aug 24, 2026 Morning Briefing
ROADMAP TO 26Q4
NEWS LINKS
WEEKLY ECONOMIC DATA / EARNINGS
AI / TECH CATALYSTS
POLITICAL CATALYSTS

Edition archive

Series at a glance

Editions tracked: 56
First edition: May 11, 2026
Latest edition: September 4, 2026

All J.P. Morgan research

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