Here's Why Capital One, Discover, and Amex Were Rising Tuesday
The stock market opened sharply higher on Tuesday, but the market cooled off quite a bit as the day went on. At 3:15 p.m. EDT, the Dow Jones Industrial Average and S&P 500 benchmark index were both higher by a bit more than 1%.
Credit card stocks were one of the bright spots of the market. Capital One (NYSE: COF) was higher by 8% in the afternoon, while Discover (NYSE: DFS) and American Express (NYSE: AXP) were both higher by 6%.
To be clear, the financial sector has been one of the hardest hit parts of the market in the coronavirus-related downturn, and all of these stocks are still a long way from their highs. Capital One's share price is less than half of what it was in late January, while Discover is still down by about 60% since that time. Amex is the best performer of the three, down just 36% from its January high.
Source Fool.com
