---
title: "JPMorgan Chase & Co. (JPM): Hedge Funds Are Bullish On This Momentum Stock Now"
description: "JPMorgan Chase & Co. (NYSE:JPM) is gaining attention from hedge funds as a top momentum stock. Recent economic data, including a strong jobs report and stable unemployment rate, suggests a resilient U"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/216080605.md"
published_at: "2024-10-07T11:11:27.000Z"
---

# JPMorgan Chase & Co. (JPM): Hedge Funds Are Bullish On This Momentum Stock Now

> JPMorgan Chase & Co. (NYSE:JPM) is gaining attention from hedge funds as a top momentum stock. Recent economic data, including a strong jobs report and stable unemployment rate, suggests a resilient U.S. labor market. Experts predict smaller rate cuts by the Federal Reserve, with potential GDP growth of 2.5% to 3%. JPMorgan is also expanding its community presence by opening nearly 100 branches in low-income areas, aiming to enhance financial literacy and customer engagement. The bank's innovative Quest IndexGPT product utilizes AI to create thematic stock indices for institutional investors.

We recently compiled a list of the **8 Best Momentum Stocks To Invest In Right Now**. In this article, we are going to take a look at where JPMorgan Chase & Co. (NYSE:JPM) stands against the other momentum stocks.

After the Fed’s rate cut and a positive inflation report, the latest jobs report also showed better-than-expected results. In an interview with Yahoo Finance, Elise Gould from the Economic Policy Institute discussed the latest employment data as she highlighted the continued strength of the U.S. labor market.

Payroll employment increased by 254,000 in September, with revisions adding 72,000 jobs from previous months. The unemployment rate remained stable at 4.1% and showed declines among various demographics, especially among men.

Gould emphasized that the prime-age employment-to-population ratio is at a 23-year high, which shows a strong economy. Despite wage growth reaching 4%, she downplayed concerns that this could lead to inflation and mentioned improvements in productivity and a low labor share of corporate income.

She expressed confidence in the labor market’s strength and suggested that it may influence the Fed’s decisions on interest rates. She also believes that the Fed should normalize rates, which remain high historically given current employment levels.

Gould observed that the overall labor market is strong, but not excessively heated, as shown by softer job turnover rates.

At *CNBC’s Closing Bell*, Wharton finance professor Jeremy Siegel discussed the impact of the recent economic data on the stock market. He noted that while 550,000 jobs were added in the third quarter, wages remained flat, leading to a GDP growth projected at 2.5% to 3%.

Siegel believes that the Federal Reserve will likely implement smaller rate cuts of 25 basis points rather than larger cuts and will aim for a long-term neutral rate of about 3.5% by the second half of next year.

He expressed optimism regarding the stock market and suggested that the S&P 500 could reach 6,000 by year-end. However, he mentioned that higher yields may present challenges.

Despite concerns about equity valuations appearing high, Siegel pointed out that with cash still abundant and a resilient economy, the market remains attractive. He acknowledged that while the forward earnings ratio for the market is around 21.5x, it is not expensive in the current economic climate. He emphasized the absence of recession indicators and the potential for earnings growth and suggested that while significant market gains may not be expected, there is still room for growth.

For this article, we looked at the October 2 holdings of iShares MSCI USA Momentum Factor ETF and narrowed our list to 8 stocks most widely held by institutional investors. The best momentum stocks to invest in are listed in ascending order of their hedge fund sentiment which was taken from Insider Monkey’s database of over 900 elite hedge funds.

Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).

A group of business people discussing plans around a boardroom table adorned with a financial services company logo.

JPMorgan Chase & Co. (NYSE:JPM) is one of the largest banking institutions in the United States. It operates in several areas including asset and wealth management, commercial banking, consumer and community banking, corporate and investment banking, and technology. Moreover, it operates in over 100 global markets.

The firm recently launched Quest IndexGPT, a set of stock indices for institutional investors that uses OpenAI’s GPT-4 model to generate keywords related to specific themes. The keywords help identify relevant companies and construct thematic indices in sectors like AI and renewable energy. It was developed by the Commercial & Investment Bank Strategic Index Structuring team and is the firm’s first product using LLM technology.

As per The WallStreet Journal, JPMorgan Chase (NYSE:JPM) plans to open nearly 100 new branches in low-income areas across the U.S. The branches will offer standard banking services and spaces for small businesses and financial literacy workshops. The CEO, Jamie Dimon emphasized that this initiative combines community support with business strategy, aiming to enhance customer engagement and deposits.

The bank is hiring 75 community managers to build trust and partnerships in these neighborhoods. Previous community branches have already shown increased personal savings and checking accounts. The initiative seeks to address historical banking challenges in underprivileged areas and includes hosting events to improve financial literacy and trust in banking.

According to the Insider Monkey database of 912 hedge funds, JPMorgan Chase’s (NYSE:JPM) stock was held by 111 hedge funds, which brings the company to the third spot on our list of best momentum stocks.

Carillon Tower Advisers Carillon Eagle Growth & Income Fund stated the following regarding JPMorgan Chase & Co. (NYSE:JPM) in its first quarter 2024 investor letter:

> “JPMorgan Chase & Co. (NYSE:JPM) contributed positively to performance following solid financial results and positive guidance for the remainder of 2024. Moreover, growing chatter around rising capital markets activity likely contributed to the stock’s strong performance relative to other banks. Recall that JPMorgan has a robust capital markets franchise.”

Overall JPM **ranks 3rd** on our list of the best momentum stocks to buy. While we acknowledge the potential of JPM as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than JPM but that trades at less than 5 times its earnings, check out our report about the **cheapest AI stock**.

**Read Next: $30 Trillion Opportunity: 15 Best Humanoid Robot Stocks to Buy According to Morgan Stanley and Jim Cramer Says NVIDIA ‘Has Become A Wasteland’.**

Disclosure: None. This article is originally published at Insider Monkey.

Artificial intelligence is the greatest investment opportunity of our lifetime. The time to invest in groundbreaking AI is now, and this stock is a steal!

The whispers are turning into roars.

Artificial intelligence isn’t science fiction anymore.

It’s the revolution reshaping every industry on the planet.

From driverless cars to medical breakthroughs, AI is on the cusp of a global explosion, and savvy investors stand to reap the rewards.

Here’s why this is the prime moment to jump on the AI bandwagon:

**Exponential Growth on the Horizon:** Forget linear growth – AI is poised for a hockey stick trajectory.

Imagine every sector, from healthcare to finance, infused with superhuman intelligence.

We’re talking disease prediction, hyper-personalized marketing, and automated logistics that streamline everything.

This isn’t a maybe – it’s an inevitability.

Early investors will be the ones positioned to ride the wave of this technological tsunami.

**Ground Floor Opportunity:** Remember the early days of the internet?

Those who saw the potential of tech giants back then are sitting pretty today.

AI is at a similar inflection point.

We’re not talking about established players – we’re talking about nimble startups with groundbreaking ideas and the potential to become the next Google or Amazon.

This is your chance to get in before the rockets take off!

**Disruption is the New Name of the Game:** Let’s face it, complacency breeds stagnation.

AI is the ultimate disruptor, and it’s shaking the foundations of traditional industries.

The companies that embrace AI will thrive, while the dinosaurs clinging to outdated methods will be left in the dust.

As an investor, you want to be on the side of the winners, and AI is the winning ticket.

**The Talent Pool is Overflowing:** The world’s brightest minds are flocking to AI.

From computer scientists to mathematicians, the next generation of innovators is pouring its energy into this field.

This influx of talent guarantees a constant stream of groundbreaking ideas and rapid advancements.

By investing in AI, you’re essentially backing the future.

The future is powered by artificial intelligence, and the time to invest is NOW.

Don’t be a spectator in this technological revolution.

Dive into the AI gold rush and watch your portfolio soar alongside the brightest minds of our generation.

This isn’t just about making money – it’s about being part of the future.

So, buckle up and get ready for the ride of your investment life!

**Act Now and Unlock a Potential 10,000% Return: This AI Stock is a Diamond in the Rough (But Our Help is Key!)**

The AI revolution is upon us, and savvy investors stand to make a fortune.

But with so many choices, how do you find the hidden gem – the company poised for explosive growth?

That’s where our expertise comes in.

We’ve got the answer, but there’s a twist…

Imagine an AI company so groundbreaking, so far ahead of the curve, that even if its stock price **quadrupled today**, it would still be considered ridiculously cheap.

That’s the potential you’re looking at. This isn’t just about a decent return – we’re talking about a **10,000%** gain over the next decade!

Our research team has identified a hidden gem – an AI company with cutting-edge technology, massive potential, and a current stock price that screams opportunity.

This company boasts the most advanced technology in the AI sector, putting them leagues ahead of competitors.

It’s like having a race car on a go-kart track.

They have a strong possibility of cornering entire markets, becoming the undisputed leader in their field.

**Here’s the catch (it’s a good one):** To uncover this sleeping giant, you’ll need our exclusive intel.

We want to make sure none of our valued readers miss out on this groundbreaking opportunity!

That’s why we’re slashing the price of our Premium Readership Newsletter by **15% and offering month-to-month subscriptions with no commitments**.

For a ridiculously low price of just **$6.99 per month**, you can unlock our in-depth investment research and exclusive insights – that’s less than a single fast food meal!

Here’s why this is a deal you can’t afford to pass up:

**• Access to our Detailed Report on our Game-Changing AI Stock:**Our in-depth report dives deep into our #1 AI stock’s groundbreaking technology and massive growth potential.

**• One New Issue of Our Premium Readership Newsletter:** You will also receive one new issue per month and at least one new stock pick per month from our monthly newsletter’s portfolio over the next 12 months. These stocks are handpicked by our research director, Dr. Inan Dogan.

**• One free upcoming issue of our 70+ page Quarterly Newsletter:**A value of $149

**• Bonus Reports:**Premium access to **members-only** fund manager video interviews

**• Ad-Free Browsing:** Enjoy a month of investment research free from distracting banner and pop-up ads, allowing you to focus on uncovering the next big opportunity.

**• Lifetime Price Guarantee:** Your renewal rate will always remain the same as long as your subscription is active.

**• 30-Day Money-Back Guarantee:**If you’re not absolutely satisfied with our service, we’ll provide a full refund within 30 days, no questions asked.

**Space is Limited!** Only **1000 spots** are available for this exclusive offer. Don’t let this chance slip away – subscribe to our Premium Readership Newsletter today and unlock the potential for a life-changing investment.

**Here’s what to do next:**

1\. Head over to our website and subscribe to our Premium Readership Newsletter for just $6.99.

2\. Enjoy a month of ad-free browsing, exclusive access to our in-depth report on the revolutionary AI company, and the upcoming issues of our Premium Readership Newsletter.

3\. Sit back, relax, and know that you’re backed by our ironclad 30-day money-back guarantee.

Don’t miss out on this incredible opportunity! Subscribe now and take control of your AI investment future!

Subscribe Now!

  
No worries about auto-renewals! Our 30-Day Money-Back Guarantee applies whether you’re joining us for the first time or renewing your subscription a month later!

I work for one of the largest independent financial publishers in the world – representing over 1 million people in 148 countries.

We’re independently funding today’s broadcast to address something on the mind of every investor in America right now…

***Should I put my money in Artificial Intelligence?***

Here to answer that for us… and give away his No. 1 free AI recommendation… is 50-year Wall Street titan, Marc Chaikin.

Marc’s been a trader, stockbroker, and analyst. He was the head of the options department at a major brokerage firm and is a sought-after expert for *CNBC, Fox Business, Barron’s,* and *Yahoo! Finance…*

But what Marc’s most known for is his award-winning stock-rating system. Which determines whether a stock could shoot sky-high in the next three to six months… or come crashing down.

That’s why Marc’s work appears in every Bloomberg and Reuters terminal on the planet…

And is still used by hundreds of banks, hedge funds, and brokerages to track the billions of dollars flowing in and out of stocks each day.

He’s used this system to survive nine bear markets… create three new indices for the Nasdaq… and even predict the brutal bear market of 2022, 90 days in advance.

**Click to continue reading…**

### Related Stocks

- [JPM.US - JPMorgan Chase](https://longbridge.com/en/quote/JPM.US.md)

## Related News & Research

| Title | Description | URL |
|-------|-------------|-----|
| Outdoor camera, surveillance maker Tactacam explores sale, sources say | Tactacam, a maker of outdoor cameras and surveillance technology, is exploring a sale that could value the company at ov | [Link](https://longbridge.com/en/news/276168245.md) |
| J.P. Morgan Appoints Geneva-Based Banker to International Senior Role | J.P. Morgan has appointed Burkhard Koep as the new Global Head of Communications Investment Banking, based in Geneva. Ko | [Link](https://longbridge.com/en/news/275729531.md) |
| IronBridge Private Wealth LLC Has $905,000 Holdings in Apple Inc. $AAPL | IronBridge Private Wealth LLC reduced its stake in Apple Inc. (NASDAQ:AAPL) by 77.3% in Q3, holding 3,555 shares valued  | [Link](https://longbridge.com/en/news/276436345.md) |
| Rocket Lab Corporation $RKLB Stock Holdings Increased by Vanguard Group Inc. | Vanguard Group Inc. increased its stake in Rocket Lab Corporation (NASDAQ:RKLB) by 5.4% in Q3, owning 41.8 million share | [Link](https://longbridge.com/en/news/276451972.md) |
| Alphabet Inc. $GOOG Shares Sold by Fifth Third Bancorp | Fifth Third Bancorp reduced its stake in Alphabet Inc. (NASDAQ:GOOG) by 0.4% in Q3, now holding 1,185,382 shares valued  | [Link](https://longbridge.com/en/news/276432399.md) |

---

> **Disclaimer**: This article is for reference only and does not constitute any investment advice.
