Here's Why Discover and Capital One Are Rising on Tuesday
After a strong opening, the stock market was rather flat by midday on Tuesday. As of 11:30 a.m. EDT, the Dow Jones Industrial Average and S&P 500 index were both higher, but by less than 0.4% each. Credit card issuers were another story. Discover Financial Services (NYSE: DFS) and Capital One Financial (NYSE: COF) were both higher by nearly 8% on the day.
To put things in context, it's important to realize that these stocks and many others in the financial sector have been among the hardest-hit during the COVID-19 pandemic. Even after the recent rebound, Discover and Capital One are down by 52% and 38% in 2020.
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Source Fool.com
