Visa and American Express are up over 4.5% each today (the latter more earlier) to new record highs (on a day when Facebook, Google, and Apple are plumbing the day’s lows). The combined effect of the Visa and American Express gains are over 67 Dow points… the Dow is up 65.8 points on the day…
The AXP move is the largest since October 2011 and V the largest day jump since May 2013…
Looks like investors decide at 1045ET that it was time to sell AXP and greatly rotate into V.
Thank goodness for credit card companies (but the Dow remains red for the year)
via Zero Hedge http://ift.tt/1awVSOh Tyler Durden