US Market Intelligence: J.P. Morgan Afternoon Briefing – July 28, 2026

Key Takeaways

• 1.The Fed is expected to hold rates tomorrow, with a 30% perceived probability of a hike despite consensus expecting a hold.
• 2.Market momentum saw a significant selloff (-1.8z move) while non-tech sectors rallied, indicating a healthy broadening of price action.
• 3.Earnings read-throughs suggest mixed consumer health; Visa sees no weakness in consumer spend, while Coca-Cola reports stability with some pressure.

Table of Contents

• Ideas & Insights – In Brief
• Afternoon Updates (News Links)
• Catalysts Tomorrow (Full Week Calendar)
• JPM Market Intel Equity & Macro Narrative
• US Mkt Intel Fed Day Scenario Analysis
• Daily Earnings Macro Read-Through
• Trading Desk Commentary
• US Mkt Intel View
• News Links
• Weekly Economic Data / Earnings
• AI / Tech Catalysts
• Political Catalysts

Report data

FED DAY- 1d Rot — as of July 28, 2026.

Reports in this series

US Market Intelligence Afternoon Briefing is shown in chronological order through this edition, published on July 28, 2026.

Part of the US Market Intelligence Afternoon Briefing series — view all 33 editions

Looking for the latest edition? JPM US Market Intelligence Afternoon Briefing Oct 12 (Oct 12, 2026)

1. Jul 13JPM US Market Intell Afternoon Briefing 20260713
2. Jul 14JPM US Market Intell Afternoon Briefing 20260714
3. Jul 22JPM US Market Intell | Afternoon Briefing
4. Jul 27JPM US Market Intell | Afternoon Briefing 2026-07-27