Shares of (NYSE: V) were rising in Thursday trading, up 2.8% as of 1:36 p.m. ET.
Visa's revenue and profits are based on payment volumes running over its global payments rails. That growth is tied to both the pace of card-based payments displacing cash and checks, as well as general economic activity.
Today, a new batch of U.S. economic numbers came in better than expected, which bodes well for economically sensitive stocks like Visa. In addition, Visa also announced a new billion-dollar acquisition that had also been coveted by rival Mastercard (NYSE: MA), also adding to the positive sentiment.
Source Fool.com