American Express Is Spiking Higher -- Here's Why
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American Express shares rose by 5% amid a strong stock market, with the S&P 500 up 2%. This surge is attributed to strong bank earnings from major institutions like Wells Fargo and Goldman Sachs, which reported better-than-expected results. Additionally, lower-than-expected inflation data, including a favorable Producer Price Index and Consumer Price Index, suggests potential interest rate cuts by the Federal Reserve, boosting investor confidence in the financial sector.
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