Stock Market Update
16-Jan-26 11:05 ET
Credit card names rebounding
Dow -76.21
at 49365.02,
Nasdaq -11.87
at 23518.18,
S&P -3.82
at 6940.64
[BRIEFING.COM] The S&P 500 (-0.1%), Nasdaq Composite (-0.1%), and DJIA (-0.2%) now sit lower across the board.
The financials sector (+0.1%) is one of just a handful of sectors that remains above its baseline this morning.
Credit card names such as Synchrony Financial (SYF 81.06, +3.36, +4.32%), Capital One (COF 241.29, +4.32, +1.82%), and American Express (AXP 363.30, +5.92, +1.66%) are among the best-performing names today after sliding earlier this week following President Trump's call for a one-year 10% interest rate cap on credit cards.
Earlier this morning, National Economic Council Director Kevin Hassett told Fox Business that he doesn't think a credit card cap will require legislation, as he hopes that the banks will voluntarily lower credit card interest rates.
