JPMorgan adds AmEx, Liberty Energy, Thermo Fisher to October stock picks

Three new stocks — American Express, Liberty Energy, and Thermo Fisher Scientific — have been added by JPMorgan to its October selection of preferred equities. All three are rated overweight by the bank.

The update comes after a mixed September for US indexes. The Dow fell 4.3%, the S&P 500 lost 0.5%, and the Nasdaq advanced 1.9%.

October Historically Brings Better Returns for Stocks

As BeInCrypto reported at the start of the month, September is traditionally the weakest month for US equities.

According to Barchart, the SPDR S&P 500 ETF has posted an average total return of 2.27% in Octobers since 2010. That places it third among the 12 months, trailing November (3.09%) and July (2.79%). Over the same period, September recorded an average loss of 0.48%.

The third quarter ended with the Dow 3% lower. Both the S&P 500 and the Nasdaq gained at least 2% during the same period.

S&P 500 is about to say goodbye to the worst month of the year (September), on average, and enter the third best month of the year (October) ✅ We made it everyone 🥳 pic.twitter.com/o7bp32XxU1

— Barchart (@Barchart) September 30, 2026

Why JPMorgan's October Selections Feature a Declining Credit Card Stock

JPMorgan categorizes its overweight-rated stocks into growth, income, value, and short strategies. American Express, among the five additions, falls into the value category.

Google Finance data indicates the stock ended at $302.78 on October 2, representing an 18.16% decline year to date.

Concerns about consumer expenditure and fluctuating credit rates have pressured the shares. Analyst Richard Shane continues to support the stock.

“AXP remains a core holding for investors looking for industry leading high returns and disciplined return of capital (dividend plus repurchases 3% of shares year after year),” he stated.

Can AI Demand Continue Supporting Stocks That Have Already Risen?

Liberty Energy, selected as a growth pick, has risen 52% over the last year. Its Liberty Power Innovations subsidiary provides on-site power generation for major electricity consumers.

The unit committed in January to deliver up to 1 gigawatt of power to Vantage Data Centers within five years. Analyst Arun Jayaram anticipates that constrained power supply will sustain this demand.

“We are seeing a reinforced structurally tight behind-the-meter power backdrop tied to data center load growth, with a power deficit expected to persist into 2030, which supports a multi-year demand runway for distributed generation providers,” Jayaram said in a note to clients.

Thermo Fisher, another growth pick, closed at $654.80 on October 2, up 13% year to date. The stock has risen over 25% in the past three months.

Mayo Clinic launched Precure in September, a venture focused on early disease detection, with Thermo Fisher as a founding partner. Analyst Casey Woodring expects additional upside from broader AI adoption and reshoring of US biopharma.

This content does not constitute financial guidance. Stock values fluctuate, historical performance is not indicative of future outcomes, and individuals should do their own research or seek professional advice before investing.