Here's Why Mastercard, Visa, Amex, and Capital One Are Soaring on Wednesday
Stocks are rallying on the announcement of the $2 trillion stimulus package that's expected to be passed shortly by Congress. As of 3 p.m. EDT, the Dow Jones Industrial Average and S&P 500 indexes were higher by about 5% and 4%, respectively.
Many financial-sector stocks were doing even better -- especially the major credit card names. Payment processing giants Mastercard (NYSE: MA) and Visa (NYSE: V) rose by 10% and 7%, respectively, while credit card lenders American Express (NYSE: AXP) and Capital One (NYSE: COF) were higher by 9% and 6% with an hour to go in the trading day.
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Source Fool.com
