20 Dec, 2020 17:15 am

1 Stock To Buy, 1 To Dump When Markets Open: JPMorgan Chase, Intel

1 Stock To Buy, 1 To Dump When Markets Open: JPMorgan Chase, Intel
Stocks Analysis by (Jesse Cohen/ covering: S&P 500, Dow Jones Industrial Average, US Small Cap 2000, Citigroup Inc. Read (Jesse Cohen/'s latest article on

p Investors should expect more volatility in the holiday-shortened Christmas week ahead as they monitor fresh developments on the stimulus and vaccine front.JPMorgan Chase & Co (NYSE: JPM ) shares are likely to see increased buying activity in the week ahead after the largest U.Outperforming industry peers such as Bank of America (NYSE: BAC ), Citigroup (NYSE: C ), and Wells Fargo (NYSE: WFC ), JPM stock closed at $119.We anticipate the news of the $30B share repurchase plan will likely push JPM stock higher in the coming week as the plan is more crucial for the banking industry than almost any other sector.

In the same announcement, which was made shortly after the Federal Reserve released the results of its second bank stress test of 2020 on Friday afternoon, JPMorgan also declared that it would maintain its regular quarterly dividend of $0.The Fed had previously prohibited banks from buying back stock and limited dividend payouts following the first round of bank stress tests in June, in order to help them build capital reserves due to the negative impact of the ongoing COVID-19 health crisis.

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