I don't have an M & P but due note that the .40 is one of the few (only?) semi-auto calibers designed from the ground up primarily as a jacketed hollow point. So keeping that in mind I can't imagine any manufacturer building a .40 gun that wouldn't reliably feed the very type of round the caliber was designed around. Remember unlike the 9mm and 45 ACP the .40 was first designed for LEO and PP usage...the .40 was NEVER a military round.
I own several M&P's in 9mm, 40 S&W, 357 SIG and 45 ACP, and have never had a feeding or extraction issue with ball or hollow point ammunition. The only feeding problem I've ever had with my M&P's, is finding the money to keep them all fed.
I own and shoot a Kahr in 40 S&W, and it sure eats every thing I have tried in it, and that encludes all of the JHP's that I have tried. I am sure the M&P will as well.
Bill...
It has already been mentioned that there is absolutely no problem using JHP. In fact this is what a person should use for self defense. Don't just take our word for it. Pick a quality, affordable JHP and buy several boxes. Go to the range and test it in your gun. If you are going to be using the gun for self defense then you should always test the loads that you are going to carry.