Why American Express Stock Jumped Today
Shares of American Express (NYSE: AXP) jumped on Tuesday. The company's stock rose 3% by the time the market closed. The move up comes as the S 500 (SNPINDEX: ^GSPC) jumped 2% and the Nasdaq Composite (NASDAQINDEX: ^IXIC) jumped 2.5%.
Shares of the credit card giant jumped after May's consumer confidence report showed consumers' attitudes were much rosier than expected.
Released today, the Conference Board's Consumer Confidence Index for May showed sentiment has reversed course. The 98 rating was up from April's 85.7 and is the first time the index ticked up in months after President Trump hit pause on a global trade war.
Source Fool.com
