American Express CEO Says U.S. Consumer Is Stable But Spending Is Lower Than Post-Pandemic Levels; CFO Says Impact Of Fed Rate Cuts On Our Net Interest Income Is Actually Quite Small; CFO Says The Fed Rate Cut Is Too Small And Too Early To See Any Impact In Terms Of Spend Patterns
Portfolio Pulse from Benzinga Newsdesk
American Express CEO reports stable U.S. consumer conditions, but notes spending is below post-pandemic levels. The CFO mentions minimal impact from Fed rate cuts on net interest income and spending patterns.
October 18, 2024 | 1:21 pm
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NEUTRAL IMPACT
American Express reports stable consumer conditions but lower spending compared to post-pandemic levels. The company's CFO indicates that recent Fed rate cuts have a minimal impact on net interest income and spending patterns.
The news indicates that while consumer conditions are stable, spending is lower than post-pandemic levels, which could be a concern for revenue growth. However, the CFO's comments suggest that the Fed rate cuts are not significantly affecting the company's financials, leading to a neutral short-term impact on stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100