Boiler Room: The Official Stock Market Discussion

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www.marketwatch.com

American Express says spending remains strong as earnings top expectations

Though acknowledging 'mixed signals' in the economy, American Express Co. once again cited strong spending trends as the financial services giant posted...
www.marketwatch.com www.marketwatch.com
“The demand for travel has exceeded our expectations throughout the year,” Chief Executive Stephan Squeri said in an earnings release. He noted that overall spending on travel and entertainment was ahead 57% from year-earlier levels after adjusting for foreign-exchange impacts, while currency-adjusted travel and entertainment spending volumes internationally topped prepandemic levels for the first time during the third quarter.

The company added 3.3 million new proprietary cards in the quarter with record high acquisitions in U.S. consumer Platinum and Gold cards as well as U.S. business Platinum cards.



“Our credit metrics…remained strong even as we steadily rebuild loan balances, with delinquencies and write-offs continuing to be low,” Squeri said in the release. “We have not seen changes in the spending behaviors of our customers, but we are mindful of the mixed signals in the broader economy and have plans in place to pivot should the operating environment change dramatically, as we have done in the past.”

Executives at Amex project 23% to 25% revenue growth for the full year, just as they did in the second-quarter report. They anticipate that earnings per share for the full year will come in ahead of their prior outlook range, which called for $9.25 to $9.65.
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Market is red as fukk...
 
Serious

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Leggo

Big week ahead..
I think the big banks set the tone that earnings for Q3, won't be as bad expected.

Should be interesting to see:
Microsoft, Google, Chiptole, Visa on Tuesday
Meta on Wednesday
Amazon , Mastercard, Credit Suisse, Shopify on Thursday
Expecting XOM and Chevron to blow their earnings away.

And the market ending green on Friday...



I'll be looking start accumulating more SQQQ and SPXS, in anticipation of market drop in the future. I ate good off all the SQQQ I bought july - august :whew:



FfrEzrjXwAAYuVN
 
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TOP STOCKS TO WATCH FOR THE WEEK OF OCTOBER 24, 2022 | APPLE, AMAZON, MICROSOFT, ENPHASE, META and UPS!

This video covers earnings this week, QQQ, SPY, IWM, Apple, Amazon, Microsoft, Ephase Energy, Meta Platforms and UPS.
 
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