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AmEx Gets Younger, More Blue Collar


racer7949
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AmEx Gets Younger, More Blue Collar

 

Investors seem a bit concerned about credit cards. …share prices of card companies have mostly fallen or underperformed the broader bank sector since the start of earnings season in mid-October.”

 

”But American Express defied the gloom, sending its shares 5.4% higher on Friday following its earnings report. One driver might have been its exposure to small-business activity.”

 

Consumer activity is bifurcated… Younger people … are spending. But “our boomers are not back,” the company said, with third-quarter spending down 6% from 2019 among baby-boomer and older customers.“

 

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