American Express stock rises 1.88% and outperforms rivals
Updated
Updated · MarketWatch · May 6
American Express stock rises 1.88% and outperforms rivals
11 articles · Updated · MarketWatch · May 6
The shares closed at $321.90 on Wednesday as the S&P 500 gained 1.46% and the Dow rose 1.24%, ending American Express's three-day losing streak.
American Express beat JPMorgan Chase's 1.78% rise, Bank of America's 0.90% gain and Visa's 1.00% decline during the broad market rally.
The stock remains 16.93% below its 52-week high of $387.49 reached on 12 December, while trading volume of 2.7 million stayed below its 50-day average of 3.7 million.
AmEx beat earnings but its stock still fell. What weakness is Wall Street seeing in the premium consumer market?
With credit risks rising, can AmEx's premium youth strategy insulate it from a broader economic downturn?