JPMorgan CEO Jamie Dimon: The market is exuberant and it's not bad

JPMorgan CEO Jamie Dimon called equity markets “exuberant” but not necessarily irrational, noting record highs driven in part by heavy AI-related spending. He warned of risks — notably very low credit spreads and the sensitivity of asset prices to interest rates — but said JP Morgan can handle a wide range of rate outcomes (he cited 2% to 8%). Dimon highlighted examples such as Micron’s rapid rise to a roughly $1 trillion market cap and praised SpaceX’s progress while avoiding valuation commentary. Overall his remarks are cautiously constructive: acknowledging strong fundamentals and earnings while urging selective, disciplined positioning given elevated risk.