Dow Jones Falls as JPMorgan Earnings Weigh

Written by Emily J. Thompson, Senior Investment Analyst

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Updated: 6d ago

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The major averages closed broadly lower, with JPMorgan bogging down the Dow as investors digested its earnings as well as new data, including the U.S. consumer price index. The release may be seen helping to shape expectations for Federal Reserve policy and the pace of potential rate cuts later this year. The annual inflation rate remained stable at 2.7%, while the core annual rate also remained at 2.6%, the lowest since 2021.Looking to commodities, gold edged lower as the "safe haven" asset retreats from record highs. Oil was surging ahead of this afternoon's API crude numbers release.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:JPMorganreportedand provided its outlook for FY26Deltareportedand revenue and provided guidance for Q1 and FY26L3Harrisannounced the creation of a, adding that it will pursue an IPO of the unit in 2H26Boeingreported 600in FY25Microsoftannounced a 5-point-plan foras Trump lauded the company amid criticism of utility bill increases amid data center builds2. WALL STREET CALLS:Intelto Overweight at KeyBancAMDto Overweight at KeyBancArmto Neutral at BofACharterto Underweight at Wells FargoMGM Resortsto Hold at Truist3. AROUND THE WEB:Venezuela's PDVSA has started to reverse oil production cuts, Reuters reportsBlackRockplans to cut hundreds of jobs as part of a regular round of layoffs to improve efficiency, Reuters reportsApple'sservices business continues to be a major profit engine, delivering record results in 2025 and entering 2026 with a focus on innovation, privacy, and customer experience, The Hollywood Reporter saysGoogleremoved AI Overviews for two liver health queries after experts warned of "alarming" results, but slight tweaks still trigger AI responses, Guardian reportsUBSCEO Sergio Ermotti plans to step down in April 2027, FT says4. MOVERS:Lithium Argentinahigher in New York after Deutsche Bankthe stock to BuyHIVE Digitalincreases after announcing itsArcus Biosciencesgains after Goldman Sachsthe stock to BuyTravere Therapeuticslower after theof the clinical benefit of FILSPARIWealthfrontfalls after5. EARNINGS/GUIDANCEIlluminafor Q4 and FY25Concentrixand provided guidance for Q1 and FY26Sight Sciencesreported, with CEO Paul Badawi commenting, "We are pleased with our progress in the fourth quarter"BNY Mellonwith EPS and revenue beating consensusCardinal Healthfor FY26INDEXES:The Dow fell 398.21, or 0.80%, to 49,191.99, the Nasdaq lost 24.03, or 0.10%, to 23,709.87, and the S&P 500 declined 13.53, or 0.19%, to 6,963.74.

$35.38+Infinity%1D

Analyst Views on BP

Wall Street analysts forecast BP stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for BP is 84.26 USD with a low forecast of 6.38 USD and a high forecast of 503.69 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.

11 Analyst Rating

5 Buy

5 Hold

1 Sell

Moderate Buy

Current: 35.150

Low

6.38

Averages

84.26

High

503.69

Current: 35.150

Low

6.38

Averages

84.26

High

503.69

Scotiabank

Outperform -> NULL

downgrade

$43 -> $41

Al Analysis

2026-01-16

New

Reason

Scotiabank

Price Target

$43 -> $41

Al Analysis

2026-01-16

New

downgrade

Outperform -> NULL

Reason

Scotiabank lowered the firm's price target on BP to $41 from $43 and keeps an Outperform rating on the shares. The firm is updating its price targets for U.S. Integrated Oil, Refining, and Large Cap Exploration & Production, E&P, stocks under its coverage, the analyst tells investors. Scotiabank expects earnings for the quarter to be straightforward due to the absence of major winter weather disruptions. Additionally, looking ahead, the firm expects investors to focus on whether recent market turmoil will cause changes to 2026 guidance and if any E&P companies will adopt cost reduction programs.

Piper Sandler

Neutral

downgrade

$44 -> $43

2026-01-08

Reason

Piper Sandler

Price Target

$44 -> $43

2026-01-08

downgrade

Neutral

Reason

Piper Sandler lowered the firm's price target on BP to $43 from $44 and keeps a Neutral rating on the shares. The firm says that entering 2026, while the chairs have shuffled around a bit, the song remains similar to twelve months ago - a bearish crude outlook that is likely to make it difficult for the sector to outperform the broader market. On the flip side, Piper sees the refining market as even better than 2025, driven by what its expects to be incrementally tighter S/D and crude differential tailwinds.

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Jefferies

Hold

maintain

2026-01-07

Reason

Jefferies

Price Target

2026-01-07

maintain

Hold

Reason

Jefferies raised the firm's price target on BP to 440 GBp from 420 GBp and keeps a Hold rating on the shares. The firm said it is maintaining its Hold view ahead of the company's new CEO starting and including balance sheet gearing analysis in the view.

Morgan Stanley

Equal Weight

downgrade

2026-01-06

Reason

Morgan Stanley

Price Target

2026-01-06

downgrade

Equal Weight

Reason

Morgan Stanley lowered the firm's price target on BP to 415 GBp from 456 GBp and keeps an Equal Weight rating on the shares.

About BP

BP p.l.c. is a United Kingdom-based integrated energy company. Its segments include Gas & low carbon energy, Oil production & operations, Customers & products, and Other businesses & corporate. The gas & low carbon energy comprises regions with upstream businesses that predominantly produce natural gas, gas marketing and trading activities and its solar, wind and hydrogen businesses. The oil production & operations segment comprises regions with upstream activities that predominantly produce crude oil, including bpx energy. The customers & products segment comprises its customer-focused businesses, which include convenience and retail fuels, electric vehicle (EV) charging, as well as Castrol, aviation and business-to-business (B2B) and midstream. It also includes its products businesses, refining and oil trading, as well as its bioenergy businesses. The other businesses and corporate also comprises the Company's shipping and treasury functions, and corporate activities worldwide.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.