U.S. mid-sized businesses are taking a step back from last year's bullish run. According to a fresh JPMorgan survey, sentiment has shifted from exuberant confidence in 2025 to cautious optimism heading into 2026. The data paints an interesting picture—companies saw strong momentum through 2025, but they're now pumping the brakes as economic uncertainties loom. This kind of sentiment swing matters across markets. When business confidence moderates, it can ripple through capital allocation decisions, credit cycles, and overall market dynamics. For traders and investors watching macro trends, this JPMorgan snapshot is worth monitoring as a barometer of where institutional money and business spending might flow in the coming months.