J.P. Morgan
May 13, 2026
US Market Intelligence Morning Briefing
Daily UpdateEquitiesCommoditiesRates Govt BondsInformation TechnologyFinancials
J.P. Morgan maintains a tactically bullish outlook on US markets, encouraging investors to buy the dip following a hawkish April CPI print. The strategy is supported by resilient US consumer cash balances and strong corporate earnings growth.
Key Takeaways
- 1.J.P. Morgan remains tactically bullish on US Equities, viewing recent volatility as a 'buy the dip' opportunity.
- 2.US Consumer fundamentals remain strong despite inflation, supported by massive cash reserves in checking accounts (~$6T).
- 3.Copper (Dr. Copper) is identified as a high-conviction trade due to a global growth reboot theme and low Chinese inventories.
Table of Contents
- IDEAS & INSIGHTS – IN BRIEF
- JPM MARKET INTEL MORNING UPDATES
- CATALYSTS TODAY (WEEK AHEAD)
- JPM MARKET INTEL EQUITY & MACRO NARRATIVE
- CPI POST-MORTEM
- DR. COPPER?
- US MARKET INTEL VIEW
- NEWS LINKS
- WEEKLY ECONOMIC DATA / EARNINGS
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Authors
Andrew TylerFederico Manicardi
Securities
SPXNVDAWTICOPX10-year Treasury yield
Themes
Resilient Fundamentals vs. Deteriorating SentimentDr. Copper / Global Growth RebootMiddle East Geopolitical Friction (SoH)
Regions
North AmericaAsia PacificMiddle EastUnited StatesChinaIran