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Mastercard vs. American Express: Which Credit Card Stock is a Better Buy?

Credit card transactions are on the rise due to increased discretionary spending ahead of the upcoming holiday season. So, credit card giants Mastercard (MA) and American Express (AXP) should benefit. But which of these stocks is a better buy now? Read more to find out.Mastercard Incorporated (NYSE:MA) provides transaction processing and other payment-related products and services. It facilitates the processing of payment transactions, including authorization, clearing, and settlement. In comparison, American Express Company (NYSE:AXP) provides charge and credit payment card products and travel-related services worldwide. It operates through three segments: Global Consumer Services Group; Global Commercial Services; and Global Merchant; and Network Services.

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Mastercard vs. American Express: Which Credit Card Stock is a Better Buy?
© Reuters. Mastercard vs. American Express: Which Credit Card Stock is a Better Buy?

Credit card transactions are on the rise due to increased discretionary spending ahead of the upcoming holiday season. So, credit card giants Mastercard (MA) and American Express (AXP) should benefit. But which of these stocks is a better buy now? Read more to find out.Mastercard Incorporated (NYSE:) provides transaction processing and other payment-related products and services. It facilitates the processing of payment transactions, including authorization, clearing, and settlement. In comparison, American Express Company (NYSE:) provides charge and credit payment card products and travel-related services worldwide. It operates through three segments: Global Consumer Services Group; Global Commercial Services; and Global Merchant; and Network Services.

The use of credit cards and other digital payment methods has increased significantly amid remote lifestyles. With rapid vaccination and recovering consumer confidence, spending on services and discretionary items has increased considerably. According to The Conference Board, the consumer confidence index increased in October, following declines over the previous three months. And according to the Commerce Department, overall consumer spending rose 0.6% in September.

The rapid adoption of digital prepaid card services should further drive the credit card market’s growth in the coming months. According to Research and Markets, the global credit card market is expected to grow at a 3% CAGR to hit $103.06 billion in 2021.

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The Bank of England buys government bonds instead of a planned sale

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The Bank of England buys government bonds. It was decided to suspend the start of the previously announced government bond sales program and instead will start buying government bonds amid a sharp rise in their yields.

“UK government bonds Bank of England will start to buy from September 28. The purpose of these purchases is to return to normal market conditions. Purchases will be made in any scale, which is necessary to achieve the goal,” – said in a statement of the British Central Bank.

The yield on U.K. 10-year government bonds reached 4.611 percent in Wednesday’s trading, recording the highest increase since 1957 since the beginning of the month. After the Bank of England’s announcement, yields fell about 45 basis points to 4.07%. The news also caused yields on other government bonds around the world to fall.

The surge in yields on British government debt is caused by the previously announced large-scale tax cuts, which, according to British authorities, will increase the budget deficit in the current fiscal year by more than 70 billion pounds.

Earlier, we reported that Goldman lowered its recommendation on global equities for the next 3 months to “below market”.

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Goldman Sachs stock forecasts: Goldman has downgraded its recommendation for global stocks for the next 3 months to “below market”

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Goldman Sachs stock forecasts

A new Goldman Sachs stock forecast has emerged. Analysts at U.S. bank Goldman Sachs Group Inc. (NYSE:GS) have downgraded their recommendation for global stocks for the next three months to “below market” and maintained an “above market” recommendation for cash amid recessionary risks, Bloomberg writes.

“Current stock valuations may not fully reflect the risks involved, and there’s a chance they will drop even further before they bottom out. Also have a disappointing Goldman Sachs economic forecast,” the Goldman strategist team, led by Christian Muller-Glissmann, wrote.

BlackRock, the world’s largest company by assets under management, advises investors to “divest from most stocks.”

Experts at Morgan Stanley (NYSE:MS) and JPMorgan Asset Management previously laid out similar concerns after the world’s top central banks signaled their firm’s resolve to fight inflation, sending global stocks plunging in the past few days.

Goldman analysts last week sharply lowered their forecast for the value of the U.S. S&P 500 stock index for the end of this year, to 3,600 points from the previously expected 4,300 points. The day before, the indicator finished trading at 3655 points.

Earlier, we reported that European stock markets are trading contradictoryly.

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European stock markets are trading contradictory today

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During today’s trading the major European stock markets do not show unified dynamics. The composite index of the largest companies in the region, Stoxx Europe 600, decreased by 0.18% to 389.68 points.

European stock markets trading today

British stock index FTSE 100 was down 0.06%, while German DAX gained 0.19% and French CAC 40 gained 0.16%. Italian FTSE MIB rose by 1%. Spanish IBEX 35 decreased by 0.34%.

The British financial company Virgin Money UK PLC was among the leaders of the fall in the components of the Stoxx Europe 600 index, falling by 6.7%.

Shares of the Swiss manufacturer of heating and ventilation systems rose 8.4% as Berenberg’s experts improved their recommendations on the company’s securities and raised their price target.

Concerns about the state of the global economy are growing amid persistently high inflation and aggressive measures by major central banks to curb it, writes CNBC.

The elections in Italy are also in the spotlight. The Italian Democratic Party acknowledged defeat in early parliamentary elections that took place on Sunday, reported the media.

The market is also pressed by continuing geopolitical tensions with the ongoing “referendums” in several regions of Ukraine.

Meanwhile, the level of business confidence in the German economy in September fell to 84.3 points from 88.6 points in August, according to a report by the research organization IFO.

Earlier we reported that the yield of British government bonds rose to a 14-year high.

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