American Express Is Spiking Higher -- Here's Why

The stock market was having a strong day on Wednesday, with the S&P 500 (SNPINDEX: ^GSPC) up by about 2% at 3:30 p.m. ET. However, the financial sector was one of the better performers, and American Express (NYSE: AXP) was up by as much as 5%.There are two main reasons for this move: bank earnings and inflation data. So, let's take these one at a time.First, several big banks kicked off earnings season on a high note. Wells Fargo (NYSE: WFC), Goldman Sachs (NYSE: GS), Citigroup (NYSE: C), and JPMorgan Chase (NYSE: JPM) all reported better-than-expected results for the fourth quarter. Some even surprised the market with an optimistic outlook. For example, Wells Fargo said that it expects net interest income to rise in 2025.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool