Trading and investment banking businesses are booming! JPMorgan Chase (JPM.US) raises full-year spending forecast, Dimon says actively seeking merger and acquisition opportunities worth $10 to $20 billion.

JPMorgan Chase CEO Jamie Dimon said on Wednesday that due to strong performance in trading and investment banking, the company's expenses for the year are expected to be higher than previously anticipated, and the company is actively seeking its next major acquisition. Dimon stated that JPMorgan Chase's full-year expenses for 2026 are expected to be "closer to $106 billion," higher than the company's reiterated $105 billion guidance in April of this year. However, he emphasized that the additional $10 billion in expenses "primarily come from better business performance, so it's a good extra expense." Dimon pointed out that trading revenue and investment banking fees are both surpassing previous expectations. JPMorgan Chase recently set a new record for quarterly trading revenue, and performance in the current quarter remains strong. Dimon stated that market revenue for the second quarter ended June 30 is expected to increase by 11% year-on-year, and possibly even higher. At the same time, investment banking fees are expected to increase by about 10%, and there is a possibility that the final performance may exceed expectations. Describing the current market atmosphere, Dimon said, "The market is very hot. Private equity firms are busy, companies are busy, and the market is filled with optimism." Despite JPMorgan Chase's strong business performance, the company's stock price fell more than 1.5% to $302 at one point on Wednesday, making it the weakest among the 24 component stocks of the KBW Bank Index. In addition to performance outlook, the market is also focusing on Dimon's latest statement regarding major acquisitions. Dimon stated that in the coming years, JPMorgan Chase may have the opportunity to invest $100 billion to $200 billion in acquisitions. He said, "We are actively looking for opportunities." Over the past 20 years, Dimon has transformed JPMorgan Chase into the largest and most profitable bank in the United States through a series of key acquisitions. These include the low-cost acquisition of Bear Stearns and Washington Mutual during the 2008 financial crisis, as well as taking over the collapsed First Republic Bank in 2023. However, Dimon also stated that the company is not currently in a hurry to make deals. He pointed out that overall asset prices in the market are high, including JPMorgan Chase's own stock valuation being at a high level. "We are very patient with how we use capital. We have no problem even if cash is temporarily parked." Analysts point out that with the AI boom, active capital markets, and the resurgence of corporate financing needs, large Wall Street banks are currently experiencing a new cycle of business recovery. As one of the most important systemic banks in the world, JPMorgan Chase's future moves in major acquisitions may further impact the overall landscape of the US financial industry.