JPMorgan says the stock market's biggest driver will be weaker than expected going forward

• The main driver behind stock prices is set to weaken amid a period of high interest rates, according to JPMorgan.
• Corporate profits will head lower due to high rates combined with deteriorating consumer finances, the bank said.
• "Consensus expectations of 12% forward EPS growth should be revised lower," JPMorgan said.

The stock market's biggest driver is due for a slowdown that few on Wall Street expect, according to a Monday note from JPMorgan.

Corporate profits will head lower amid high interest rates combined with deteriorating consumer finances, the bank said.