Stock Market Update

[BRIEFING.COM] The major averages continue to face turbulence as several S&P 500 sectors oscillate between positive and negative territory. 

The consumer staples sector (+0.9%) outperforms amid the early volatility, with a majority of its components holding modest gains. 

The financials sector (+0.3%) also holds its line in positive territory. American Express (AXP 337.72, +14.60, +4.52%) is one of the top-performing names in the S&P 500 today, after the company extended its streak of strong earnings performance, topping EPS estimates for the seventh consecutive quarter as consumer spending remained robust. EPS rose 19% year-over-year to $4.14, while total billed business climbed 8% year-over-year to $388.1 billion, supported by healthy demand from younger, affluent cardmembers.

American Express raised the low end of its FY25 EPS guidance, which is a constructive shift from last quarter's cautious reaffirmation and signals growing confidence in sustained spending trends.