Stock Track | American Express Soars 5.43% as Credit Card Stocks Rally on Trade Hopes, Despite Price Target Cut

Stock Track04-08

American Express (AXP) stock surged 5.43% in pre-market trading on Tuesday, as credit card companies and broader markets rebounded amid hopes for potential negotiations over aggressive tariffs. The rally came despite a price target cut from Jefferies analysts.

Shares of American Express, along with other major credit card issuers like Mastercard and Visa, rose sharply as investors anticipated possible easing of trade tensions. The financial sector, particularly payment firms, had been under pressure due to concerns about weakening consumer confidence and spending amid economic uncertainties stoked by the ongoing trade disputes.

The upward movement occurred even as Jefferies analysts lowered their price target on American Express from $260 to $230. While this adjustment suggests some caution, the broader market optimism appears to have outweighed these concerns in the short term.

Market participants will be closely watching for any concrete developments in trade negotiations, as well as indicators of consumer spending trends, which could significantly impact American Express and its peers in the coming weeks.

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