Is American Express a Can't-Miss Financial Stock?
The global economy was booming coming out of the COVID-19 pandemic -- so much so that governments around the world have been faced with excessive inflation, a problem that occurs when demand for goods and services outstrips supply. But two categories that people are still throwing money at are travel and entertainment.
So which companies can be expected to benefit from that heavy travel and entertainment spending? One at the center of this growth is credit card veteran American Express (NYSE: AXP). The venerable financial institution's payment volumes in the travel and entertainment category grew by 39% year over year in the first quarter as its customers spent freely on flights, hotels, and other vacation expenses.
But does all this make American Express a can't-miss financial sector stock for investors to buy now?
Source Fool.com
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