Here's Why Visa, PayPal, and Other Payment Stocks Are Rising Today
The stock market was sharply higher on Monday morning, erasing some of last week's losses. As of 11 a.m. EDT today, the Dow Jones Industrial Average and S&P 500 were both about 4.5% higher.
Payment stocks were doing even better. Payment processing giants Visa (NYSE: V) and Mastercard (NYSE: MA) were both up by more than 7%, PayPal (NASDAQ: PYPL) was up by about 5.5%, and American Express (NYSE: AXP) was having a particularly strong day with an 11% gain.
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Source Fool.com
