US small business lending boom

What happened: JPMorgan Chase (JPM) announced plans to lend $80 billion to US small businesses over the next decade, hiring 1,000 bankers to facilitate this. Meanwhile, small business owners like Jason Lavery are increasingly adding credit card surcharges due to high processing fees. However, small business sentiment dropped to an 11-month low in March, primarily due to rising oil prices.

Market impact: This narrative affects small business lending and credit card processing sectors. JPMorgan's expansion could boost the former, while surcharges may shift consumer spending patterns, impacting retailers and financial services companies. The decline in small business sentiment could slow down economic growth and hiring plans.

What to watch next: JPMorgan's Q2 earnings report (July 14) will provide insights into their small business lending progress. The NFIB's Small Business Optimism Index (released monthly) will track sentiment changes. Additionally, watch credit card processing fees and consumer spending data to gauge the impact of surcharges.