Jamie Dimon Said Markets Are Underestimating Risks Shifting "Like Tectonic Plates." He Made the Warning Right After JPMorgan Posted Its Best Quarter Ever.

Sometimes events unfold slowly on Wall Street. Other times, events move so quickly that it is like a sudden earthquake, as two tectonic plates lurch past one another. That's the analogy that JPMorgan Chase (NYSE: JPM) CEO Jamie Dimon used to describe the current market and economic environment. How should investors juxtapose that against the giant bank's impressive second-quarter earnings?

In the second quarter of 2026, JPMorgan Chase posted earnings of $7.70 per share. That was up from $5.94 in the first quarter and $5.24 a year earlier. To put percentage numbers on that, earnings rose 30% from the first quarter of 2026 and a huge 47% from the second quarter of 2025. From that top-level view, JPMorgan is doing shockingly well right now.

Image source: JPMorgan Chase

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