The latest Market Talks covering Financial Services. Exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.

1217 ET - Stripe's offer to buy PayPal marks the continuation of consolidation across the payments and financial technology industry, Deutsche Bank analysts say. Several other mergers within the sector have already been announced this year, including deals between Mastercard and the stablecoin firm BVNK, and between Fidelity Information Services and TSYS. A potential sale of PayPal -- to Stripe or someone else -- could be a catalyst for more deal activity in the industry, the analysts say. The reported size of the deal also suggests there is significant interest in PayPal, despite the company's recent challenges and low trading multiple, they say. (katherine.hamilton@wsj.com)

1154 ET - JPMorgan's Jamie Dimon says artificial intelligence will be a revolutionary force, but adds that CEOs should still weigh the return on their investments in it as spending on AI infrastructure skyrockets. "We're all going to be rational about it like any other resource we use," Dimon tells CNBC. JPMorgan constantly negotiates with vendors on the value and purpose of potential investments in AI, which is "a normal state of affairs" between vendors and companies, he says. Dimon says he still thinks AI is going to be an "unbelievable thing" that cure cancers, reduces road deaths and hospital deaths, and even invent new composite materials. (dean.seal@wsj.com)

1107 ET - JPMorgan Chase has pooled $18 million in loans and investments along with $6 million in philanthropic grants to help expand a submarine manufacturing and assembly facility in Philadelphia. The financing will also help expand workforce training and apprenticeship opportunities for potentially thousands of local workers, and support up to 100 local maritime small business suppliers, the bank says. CEO Jamie Dimon tells CNBC that financing is part of its focus on defense and infrastructure. "We're doing our part to help protect the future of freedom and the future of America," Dimon says. (dean.seal@wsj.com)

1100 ET - Elevance Health says it is exiting more Medicaid markets. It recently reached an agreement with Washington, D.C., to leave the city's Medicaid market, and expects to exit more Medicaid markets over the next 12 to 18 months where it doesn't see a path to sustainable growth. The exits are part of Elevance's strategy to improve financial discipline and assess each market based on fit, operational requirements and the ability to generate good return on capital. Health insurers have been raising Medicaid rates to offset rising health costs. Elevance said it had fewer members in the most recent quarter, particularly in its Medicaid and Affordable Care Act plans. Shares drop 10%.(katherine.hamilton@wsj.com)

1051 ET - Morgan Stanley's total client assets hit $10 trillion in 2Q after the bank added $148 billion of organic net new assets, more than half of which came from employees selling stock when their private companies were taken public, executives say on a call with analysts. The wealth management division's new assets were driven by large IPOs of late-stage, private workplace clients, CEO Ted Pick says. Morgan Stanley has about 70% of the top 100 unicorns, or privately held startups valued at more than $1 billion, in its workplace pipeline, executives say. (dean.seal@wsj.com)

1023 ET - Morgan Stanley CEO Ted Pick says we're just in the early stages of a potentially $10 trillion investment cycle for artificial intelligence compute. The bank's research team found that every major technology wave requires 10 times more computing power than the last, and since the cloud computing shift cost about $1 trillion, the AI wave could require 10-times that amount, Pick tells analysts on a call. With estimates for up to $850 billion in data center spending this year, up to $1.3 trillion next year and maybe $1.5 trillion the year after, "you're basically looking at us being around 10% to 15% of the way through the investment cycle," the CEO says. (dean.seal@wsj.com)

1012 ET - Morgan Stanley is sitting on capital that could help it get bigger, either organically or with bolt-on acquisitions, CEO Ted Pick says on a call with analysts. The bias right now is to grow the firm organically, he says. But with a surplus of capital, M&A isn't out of the question either, the CEO says. "That is certainly achievable when you're $300 million plus over and with the kind of [supplementary leverage ratio] capacity that we have," Pick says. (dean.seal@wsj.com)

0905 ET - European banks are the largest consensus overweight for European investors, Bank of America's European fund manager survey for July says. A net 49% of surveyed investors say the continent's banks will outperform other sectors. By way of contrast, investors are betting that European auto companies will struggle, with a net 46% of participants betting the sector will underperform. Fund managers turned their backs on healthcare stocks in large numbers, as the net percent of managers overweight the sector dropped form 50% to 3% in July. A basket of European banking stocks is up close to 16% so far this year, compared to a year-to-date rise of 8.4% for the sector-wide Stoxx 600. BofA's survey was conducted between July 2 and July 9. (josephmichael.stonor@wsj.com)

0643 ET - Standard Chartered's Eric Robertson says we are now in a world of structurally higher rates. Across the G10, rates were lower for a long time, but that's no longer the case. U.S. rates are not going back to zero, the chief strategist says. Rates in Europe and Japan have both moved higher, with the long-term consequence of that being capital distribution will be a lot more disciplined. "You can invest in really bad businesses if your cost of financing is zero. If your cost of financing is 4%-5%, you have to be smarter with how you deploy your capital." There should be a rationing of capital but not a shortage, he notes, pointing to the trillions in U.S. money market funds and an enormous amount of capital sitting in alternative asset managers. (fabiana.negrinochoa@wsj.com)

0631 ET - Swedish bank SEB reported a strong quarter, helped by a 14% net profit beat and return on equity of 15.7%, Jefferies analyst Alexander Demetriou writes. The underlying result was solid, driven by beats across net interest income and fees, he adds. Lending growth was also strong and costs came in better than expected, with the cost target now updated for currency at 33.3 billion Swedish kronor. The 1.25 billion kronor buyback is in line with expectations. Shares rise 4.2%. (dominic.chopping@wsj.com)

0552 ET - Stripe's reported joint approach for payment processor PayPal suggests the startup is looking to bolster its consumer-facing business, Jefferies analysts write. Link, the California-based group's consumer arm, currently has more than 250 million users globally, compared with PayPal's 439 million active accounts, the analysts say. An acquisition would also diversify Stripe's offering for businesses, given the $600 billion total payment volume of PayPal's enterprise arm, Braintree. Any deal would be neutral for Dutch rival payment processor Adyen, the analysts add. PayPal shares surge over 17% premarket, while Adyen gains 1.5%. (josephmichael.stonor@wsj.com)

0049 ET - TISCO Financial Group is likely focusing on good-quality loans and fee-income growth, Maybank Securities (Thailand)'s Jesada Techahusdin says in a research report. The provider of hire purchase and auto loans focuses on Thailand's low-yield segments such as new-car hire purchases to sustain good-loan quality, the analyst notes. For hire purchase loans, the Thailand company focuses on new electric vehicles where credit quality is better than for internal-combustion-engine cars. This could support the company's bancassurance fees as insurance premiums on EV cars are higher than for ICE cars. The brokerage raises the stock's target price to 120.00 baht from 108.00 baht to reflect a valuation roll-forward, with unchanged hold rating. Shares are unchanged at 124.50 baht. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

July 15, 2026 12:20 ET (16:20 GMT)

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