AMERICAN EXPRESS

American Express is launching a suite of financial service products for small businesses as it aims build up its presence in the small business sector.

Stocks closed higher on Wall Street, marking the market's third winning week in the last four.

Amex targets affluent cardholders through a "spend-centric" model that focuses on generating revenue by driving spending on its cards.

These are the stocks posting the largest moves in midday trading.

American Express saw its first quarter profits fall by 9%, as the credit card giant had to set aside significantly more money to cover potentially bad loans.

Stocks closed higher on Wall Street, marking the market's third winning week in the last four.

These are the stocks posting the largest moves in midday trading.

Cramer gave his predictions for which stocks in the Dow Jones Industrial Average will perform well in 2023.

The Durbin-Marshall bill targets a system of inflated fees that swell the profits of the country’s biggest banks.

Credit-card makers are ditching plastic in favor of something with much more … plunk.

Stock futures rebounded Friday morning as Street continues to assess earnings.

These are the stocks posting the largest moves before the bell.

Credit card giant American Express said its third-quarter profits rose a modest 3% from a year ago, despite a significant rise in revenue and spending from its cardmembers.

Visa is betting that crypto investors still want to spend their digital currencies as asset prices plummet this year.

Two dozen Republican attorneys general are urging Visa, MasterCard, and American Express to drop their plans for a new store code for gun retailers.

A group of Republican attorneys general are pushing the major payment networks _ Visa, Mastercard and American Express _ to drop their plans to start tracking sales at gun stores, arguing the plans could infringe on consumer privacy and push legal gun sales out of the mainstream financial network.

Visa, American Express and Mastercard will separate gun and ammunition purchases from others in records.

Gun law advocates hail new credit card code as a way to cut down on suspicious sales

The decision comes after the International Organization for Standardization, a Geneva-based nonprofit, approved the creation of a merchant code for gun retailers.

Visa’s adoption is significant as the largest payment network, and will likely add pressure for Mastercard and American Express to adopt the code.

These are the stocks posting the largest moves in midday trading.

These are the stocks posting the largest moves before the bell.

American Express’ profits fell 14% in the second quarter, the company said Friday, as higher expenses more than offset record spending on its network by its cardmembers.

Wall Street gave back some of its strong gains from the week on Friday following discouraging readings on the global economy and another slew of profit reports from big U.S. companies.

"We have an obligation to address crime that is being facilitated through our system," said Amalgamated Bank CEO Priscilla Sims Brown.

These are the stocks posting the largest moves in midday trading.

American Express’ first-quarter profits fell roughly 6% from a year earlier, but the company saw a 30% jump in spending on its namesake cards in the quarter as its cardmembers returned to their habits of shopping, traveling and dining.

These are the stocks posting the largest moves before the bell.

Credit card deals with popular brands including Amazon, Costco and American Airlines are some of the most hotly contested contracts in the financial world.

Tim Edmunds, the CFO of UAW Local 412, admitted in open court that he diverted more than $2 million from the local account to his own personal funds.

Corporate partnerships keep falling for Phil Mickelson in the wake of his shocking comments about Saudi Arabia and his involvement in a proposed super league the Saudis are funding.

American Express has launched a checking account that comes with a debit card that will allow its customers to accrue its popular Membership Rewards points the same way they do on its credit and charge cards.

American Express, known for its array of perks-laden cards, is jumping into the highly competitive arena of digital checking accounts.

These are the stocks posting the largest moves in midday trading.

The pledges, made to Popular Information, involve the so-called Sedition Caucus of 147 lawmakers who voted against certifying Biden's election win.

This year's Small Business Saturday comes at a crucial time for many small businesses in the U.S., as many are still recovering from widespread shutdowns at the height of the coronavirus pandemic in 2020.

Small businesses are facing hefty challenges during the 2021 holiday season. Here's what you should expect, and how small-business owners say you can support them.

The "Real Housewives of Beverly Hills" star brushed off the major bill, which was amassed over the course of 12 years.

American Express saw its profits surge last quarter by 70% as Americans and companies pulled out their cards to start traveling, dining out and entertaining as they had done before the pandemic.

Goldman and AmEx are teaming up to take on big banks and fend off fintech upstarts.

These are the stocks posting the largest moves in midday trading.

The number of Americans applying for unemployment benefits has reached its lowest level since the pandemic struck last year, further evidence that the U.S. economy and job market are quickly rebounding from the pandemic recession.

U.S. consumer borrowing surged by a larger-than-expected $35.3 billion in May as Americans, bolstered by a reopening economy and rising job levels, went back to using credit in a big way.

American Express is upping the benefits — and the fee — on its flagship Platinum Card this month.

American Express has two new fintech partners its sending customers to for mortgages.

American Express CEO Steve Squeri told CNBC's Jim Cramer that he expects domestic travel spending to recover fully by the end of 2021.

It's the latest move to shake up the increasingly competitive world of small business banking.

Smooth jazz, cool cash, and fried chicken are on the menu at one of the world's oldest jazz clubs — and one of Detroit's most...

The loans, which started going out this week, range from $5,000 to $100,000, depending on business need.

Take a look at the companies making headlines in midday trading.

Stocks are closing higher Friday, reversing their week-long rut.

When American Express bought "substantially all" of Kabbage last year, the loan business it left behind was drained of the resources needed for the PPP program.

The company's shares were down 1.7% in premarket trading as of 7:30 a.m. General Electric (GE) – GE shares are jumping in pre-market trading, after its fourth-quarter earnings report showed better-than-expected cash flow for the industrial conglomerate. Raytheon's shares rose 2.6% in premarket trading. GameStop (GME) – The video game retailer's stock continues its wild swings, rising as much as 20% in premarket trading. UBS shares rose 1.8% in premarket trading.

American Express — Shares of American Express jumped 3.5% in midday trading after JPMorgan issued an upbeat note on the payments company and advised investors to buy the stock. The Wall Street firm said it sees an upcoming surge in dining out post coronavirus. DraftKings – Shares of DraftKings dropped more than 4% after Berenberg initiated coverage on the sports-betting company with a sell rating. The Wall Street firm said investor expectations on the company are "overoptimistic" and shares are priced for perfection. State Street — Shares of State Street edged up nearly 1% after the company reported better-than-expected revenue for the fourth quarter.

Some of America's biggest corporations are distancing themselves from lawmakers following the riot at the U.S. Capitol last week. "It's sending a ripple effect across all these campaigns because Donald Trump is radioactive," GOP consultant and CBS News political analyst Leslie Sanchez told CBS News' Ed O'Keefe. "The question campaigns are asking themselves is, how long is this going to last and can they separate their campaign from the larger Republican Party and the aura that it has?" But CBS News political contributor Robby Mook, a Democratic Party consultant, thinks this is a bigger shift. ViacomCBS, which owns CBS News and carries the golf tournament, had no immediate comment on their giving plans.

Financial technology company Stripe stopped processing payments for the Trump campaign, a person familiar with the matter told the Associated Press. The move by Stripe reportedly cuts off Mr. Trump's fundraising arm from what has been a steady stream of small-dollar donations that are often solicited through emails and text messages. Twitter suspended Mr. Trump from its platform, as did Facebook, last week. Online-store platform Shopify also removed Mr. Trump's campaign merchandise from its platform, saying those web pages violated company policy against sellers promoting violence. When active, both Trump online stores offered Make America Great Again hats, Trump 2020 buttons, flags, pennants, T-shirts, bobbleheads and more.

Some of America's biggest corporate names — from American Express to Facebook — said they are pausing their political donations in the wake of the deadly riot at the Capitol Building. By Monday morning, the number of big businesses halting political donations had become a flood. Among them are American Express, Airbnb, AT&T, Comcast, Dow, Google, Facebook, Ford Motors, Goldman Sachs, JPMorgan Chase, Mastercard and Microsoft. But the freeze on political donations reflects the widening fallout for Mr. Trump and his allies stemming from the Capitol protest. Citigroup confirmed Sunday that it is pausing all federal political donations for the first three months of 2021.

Businesses are rethinking political contributions in the wake of the deadly Capitol siege by President Donald Trumps supporters on Wednesday, Jan. 6, 2021. Citigroup confirmed Sunday, Jan. 10, 2021, that it is pausing all federal political donations for the first three months of the year. Outside conservative groups, including those affiliated with Republican leadership, were the ones who dropped the lion's share of money that helped him oust former Democratic Sen. Claire McCaskill. Leading business groups such as the National Association of Manufacturers, the Business Roundtable and the U.S. Chamber of Commerce all condemned the insurrection. “There was no big public push or pressure to get Marriott and others to announce they would no longer make campaign contributions.

American Express shares fell after the Wall Street Journal reported that the investigative arms of three U.S. financial agencies were probing the card issuer's sales practices. AmEx said Thursday in a statement that it has "robust compliance policies and controls in place, and [does] not tolerate misconduct." The firm added that it has been cooperating with regulators' review of small business card practices that occurred in 2015 and 2016. "We have conducted a detailed, independent review of these sales from this time period, and found no evidence of a pattern of misleading sales practices," AmEx said. "The commercial acquisition group responsible for these sales represented approximately 0.25 percent of the 65 million total new cards American Express acquired worldwide between 2014 and 2019.

The coronavirus pandemic hasnt stopped Americans from keeping up with their credit card payments, thanks in large part to government relief programs passed by Congress earlier this year. “The stimulus and unemployment benefits have definitely helped the lower end of (credit card borrowers),” said Sanjay Sakhrani, an analyst at investment bank Keefe, Bruyette & Woods. In some ways, what’s going on in the credit card market also reflects the diverging fortunes of those impacted by the pandemic. Credit card executives have for months been bracing for the impact on their customers if there is no new aid. “As a result, we do remain cautious about the potential for future shocks to the economy.”One point of uncertainty is how banks are reporting their credit card loans.

A stretch of stores along the base of Munjoy Hill had open signs out and were ready for business as part of small business Saturday, November 28, 2015. This could be foreboding news for small business owners who are counting on holiday sales to recoup sagging revenues. While shoppers may be curbing spending in 2020, the CNBC/SurveyMonkey survey revealed that 30% of shoppers plan to patronize a small business on Small Business Saturday. Strategies in the Covid economyConsidering the many challenges small business owners face, experts give tips on how they can drive sales during this key shopping day. Gary Huether Jr., president and CEO, Arooga's Grille House & Sports Bar hopes Small Business Saturday sales will boost revenues.

Stocks fell on Friday as rising new coronavirus cases, coupled with questions around central-bank funding for key emergency programs, cast doubt on a swift economic recovery. The S&P 500 dipped 0.7% to 3,557.54. Technology and industrials dropped 1.1% and 0.9%, respectively, to lead the S&P 500 lower. Friday's losses led the Dow and S&P 500 to their first weekly declines in three weeks. The Dow fell 0.7% this week and the S&P 500 lost 0.8% in that time period.

Stocks fell back across Asia on Thursday after gains for big technology shares pushed most Wall Street benchmarks higher. Tokyo's Nikkei 225 index gained 0.4% to 25,459.13 despite a report that machinery orders fell in September, suggesting weakness in corporate investment. Hong Kong's Hang Seng index fell 0.1% to 26,206.78 and the Shanghai Composite index declined 0.3% to 3,332.24. Markets have been riding a wave of relief over hopes for a potential vaccine to beat back the pandemic. Strategists along Wall Street are raising their forecasts for stock prices on expectations that political control of Washington will remain split between the parties.

Quint Tatro, president of Joule Financial, is more bullish on the tailwinds driving Square and PayPal higher, though. "Look at PayPal and look at the incredible amount of ... free cash flow that this company is kicking off. And when you do something, again, as traditional as a discounted cash flow from an intrinsic value standpoint, the company's not that overvalued. PayPal reported $3.9 billion in free cash flow in fiscal 2019. It is expected to generate $5.95 billion in free cash flow in 2020.

Stocks sank on Wednesday as Wall Street kicked off the second quarter on a sour note amid concerns the coronavirus will keep the economy shut down longer than expected. The major averages hit their session lows in the final minutes of trading, with the Dow briefly falling more than 1,100 points. White House officials are projecting between 100,000 and 240,000 virus deaths in the U.S."This is going to be a rough two-week period," Trump said at a White House press conference. Boeing, American Express and Dow Inc all fell more than 7.5% to lead Dow industrials lower. Real estate investment, utilities, energy and financials led the S&P 500 lower with each of those sectors down at least 5%.

The Dow is suffering its worst month since 1931, and a handful of stocks are leading the decline. Industrial names such as Boeing and United Technologies, oil companies Exxon Mobil and Chevron, and financials stocks American Express and Goldman Sachs are all sharply lower in March. "They all look attractive, that's really the problem. Looking at the constituents within the Dow, this means high momentum names like Microsoft could continue to outperform versus low momentum names like Exxon Mobil," Wald said. Microsoft has fallen more than 13% this year; Exxon Mobil is down 55%.

Chase's Sapphire Reserve has been named one of the best credit cards for travel by numerous experts thanks in part to its many benefits, including a $300 annual travel credit, airport lounge access and a dedicated customer support line. But this week, users took to social media to complain that Chase's customer service amid the ongoing coronavirus pandemic is resulting in long hold times spanning several hours. Though complaints about Chase wait times seemed to dominate Twitter, cardholders were also calling out customer service at American Express, Capital One and Bank of America, all of which have online travel booking portals for their cardmembers. But for those who booked through their credit card company's online travel portal, getting in touch with customer service to cancel or rebook has proved challenging. The customer service desk reportedly told Escobar the only refund option was a travel voucher, valid for one year.

"We're actually under-indexed to categories like tourism and travel," Ahuja told CNBC in an interview at Square's headquarters in San Francisco. Fears around coronavirus and its impact on global growth and corporate profits have roiled U.S. stocks this week. The company forecast first-quarter revenue growth about two to three percentage points lower than previous guidance. PayPal made a similar announcement on Thursday, lowering its outlook for first-quarter revenue growth by one percentage point. International revenue grew at 52% year over year fourth quarter.

Stocks fell on Friday after the second U.S. case of the deadly coronavirus was confirmed, stoking concerns over the sickness' impact on the global economy. The Dow Jones Industrial Average closed down 170.36 points, or 0.6%, at 28,989.73 after jumping more than 100 points earlier in the day. The 30-stock average briefly fell more than 300 points before recovering some of those losses as Boeing shares turned around. The Nasdaq Composite ended the day 0.9% lower at 9,314.91. Treasury yields fell, pushing bank shares lower.