5 Things to Watch on
January 13, 2026

Markets are up slightly in premarket trading after core CPI came in cooler than expected. Headline CPI rose +0.3% MoM and +2.7% YoY, in line with estimates, while core CPI increased +0.2% MoM and +2.6% YoY, below consensus. Treasury yields were mostly steady, with short-end yields edging lower.

JPMorgan Chase (JPM) is up slightly in premarket trading after posting Q4 results that beat expectations, driven by stronger-than-expected trading revenue. EPS came in at $5.23 vs. $5.00 expected, while revenue rose +7% YoY to $46.8B, with equities trading surging +40% on hedge fund activity. Fixed income trading also exceeded estimates, but investment banking fees fell -5%, missing forecasts. JPM guided to ~$103B of net interest income in 2026, while CEO Jamie Dimon flagged geopolitical risks, sticky inflation, and elevated asset prices as key watch items.

Delta Air Lines (DAL) is down more than -3.0% in premarket trading after quarterly results met expectations but profit guidance fell short of investor hopes. Management struck an optimistic tone, pointing to improving international routes, steady corporate travel, and stronger momentum heading into 2026. The airline plans margin expansion, disciplined capacity growth, and continued cost control, while investing in fleet upgrades with new widebody aircraft aimed at enhancing the long-haul customer experience.

Bank of New York Mellon (BK) raised its medium-term targets for pre-tax margin and return on tangible common equity by +5 pts each, to 38% and 28%, citing growing confidence in its turnaround. CEO Robin Vince said improved execution and strong performance over the past three years support higher goals over a 3–5 year horizon. The move also reflects a more favorable regulatory backdrop for banks.

L3Harris is up more than +11.0% in premarket trading after unveiling a plan with the U.S. defense establishment to scale production of critical missile propulsion systems. The move sets the stage for carving out its missile solutions arm into a focused, standalone business, aimed at strengthening the defense industrial base and boosting competition. Leadership framed the effort as rebuilding an “Arsenal of Freedom,” positioning the new company as a core partner to U.S. and allied security efforts.