American Express

US0258161092

AXP

AXP

US election campaign - major figures from the business world support Kamala Harris

In a letter to presidential candidate Kamala Harris, 88 personalities with immense experience in the management of billion-dollar companies have announced their support for her candidacy.

The reasons given are:

• Harris past performance as Vice President (strong record of promoting investment and global competitiveness of U.S. businesses)
• Harris' choice is the best way to support the continued strength, security and reliability of U.S. democracy and economy
• Harris would advance fair and predictable policies that support the rule of law, stability and a sound business environment

Among the endorsers are:

• A. Mulally (ex. CEO Ford $F (-1,21 %) )
• V. Prabhu (ex. CFO & Vice-Chair of Visa $V (-1,68 %) )
• I. Nooyi (ex. Chairman and CEO of PepsiCo $PEP (-0,84 %) )
• J. Sinegal (Co-Founder & ex. CEO of Costco $COST (+0,3 %) )
• C. Gifford (ex. Chairman of Bank of America $BAC (+2,44 %) )
• K. Chenault (ex. Chairman & CEO of American Express $AXP (+1,56 %) )
• B. Heyman (ex. Managing Director for "Private Wealth" at Goldman Sachs $GS (+3,5 %) )
• T. James (CEO & Executive Vice Chairman of Blackstone $BX (+2,43 %) )
• D. Schulman (ex. President & CEO of PayPal $PYPL (+5,3 %) )
• R. Brewer (ex. CEO of Walgreens Boots Alliance $WBA (-0,86 %) , ex. COO of Starbucks $SBUX (+0,07 %) )

https://www.cnbc.com/2024/09/06/harris-endorsed-trump-murdoch-yelp-snap-ripple.html

New money laundering law for $V (-1,68 %) / $AXP (+1,56 %) / $MA (-0,63 %) and $PYPL (+5,3 %)

The EU has once again come up with something new to restrict and minimize the quality of life of its citizens. I have just been informed by a friend that it is no longer possible to send money to friends free of charge via payment service providers with new credit cards. Both Mastercard and American Express customer service have confirmed by telephone that it will no longer be possible with immediate effect.

The friend had tried to send money to his sister in Austria via PayPal Friends and had saved his Mastercard as a payment method with PayPal. When this failed, he contacted Mastercard's customer service, who referred to the new Money Laundering Act and confirmed that they block such transactions.

I personally don't have this problem. I have just tried it and can still send my friends PayPal from my Amex and the transaction is also carried out.

Now the question is whether any of you have experienced the same and also have problems making free transactions from your credit card?

In my opinion, this is an absolute absurdity and a significant example of corruption. The whole thing has nothing whatsoever to do with money laundering, but is only intended to create a monopoly position for this strange e-euro by gradually banning all other free services.

23.07.2024 +++ Quarterly season shifts up a gear +++ Goldman-Sachs warns of AI bubble +++ SAP surprises with results +++ Porsche AG lowers forecast +++

There are a lot of quarterly figures today, especially after the close. At Visa $V (-1,68 %)one can be curious. AMEX $AXP (+1,56 %)has already shown last week that the sector is doing well. The other major stocks are also giving us a good look today: Alphabet $GOOGL (+0,99 %), CocaCola $KO (-1,76 %), Tesla $TSLA (+6,49 %),Lockheed Martin $LMT (-0,72 %), and many more...

VW subsidiary Porsche AG$P911 (+0,6 %) lowers forecasts and now expects an operating return on sales of 14-15% (previously 15-17), sales of EUR 39 to 40 billion (previously 40 to 42), an EBITDA margin of between 23 and 24% (previously 24 to 26). Porsche actually wanted to sell 80% electric cars by 2030. Now, however, Porsche is also adjusting its publicly communicated targets to reality, or more precisely: to the purchasing behavior of customers. "The switch to electric cars is taking longer than we assumed five years ago".

Europe's largest software manufacturer SAP $SAP (+2,96 %)had presented its figures for the

figures for the second quarter after the close of the US stock exchange and, despite a difficult

operating result grew more strongly than expected despite the difficult economic situation.

Analyst Toby Ogg from JPMorgan attested to the Group's decent figures overall in an

figures in an environment that is increasingly under pressure.

Jim Covello believes that AI is a big hype and sees a bad end in store for investors. The Goldman Sachs analyst sees no point in companies investing hundreds of billions of dollars in AI applications. "All the stocks in question will eventually come to their knees." For Covello, formerly the best analyst for tech stocks for many years and Head of Research at Goldman Sachs $GS (+3,5 %) "The advantages of AI are not comparable to those of smartphones and the internet. For him, one thing is clear: AI will not trigger the next economic revolution.

Tuesday: Stock market dates, economic data, quarterly figures

Quarterly figures / company dates USA / Asia

12:00 Spotify | UPS quarterly figures

12:30 General Motors quarterly figures

12:55 Coca-Cola quarterly figures

13:00 Philip Morris quarterly figures

13:30 Lockheed Martin quarterly figures

22:01 Texas Instruments quarterly figures

22:05 Alphabet | Tesla | Visa quarterly figures

No time specified: General Electric | Danaher

Paccar Quarterly figures

Quarterly figures / Company dates Europe

06:45 Logitech International | Kühne & Nagel Quarterly figures

07:00 Hella | Chocoladefabriken Lindt & Sprüngli quarterly figures

07:00 Givaudan | Amadeus Fire | Akzo Nobel quarterly figures

07:30 Alstom 1Q sales

17:45 LVMH Results 1H

18:00 Flatexdegiro preliminary result 1H

Economic data

• 09:00 DE: ECB Chief Economist Lane, opening speech at ECB/IMF conference
• 16:00 EU: Eurozone Consumer Confidence Index (flash estimate) July FORECAST: -13.4 previous: -14.0
• 16:00 US: Existing Home Sales June FORECAST: -3.9% yoy previous: -0.7% yoy

The week will be pure entertainment.

Monday:

• Release of the Empire State Manufacturing Index (July)
• Start of the Republican National Convention
• Statements by FED Chair Jerome Powell and San Francisco
  Fed President Mary C. Daly
• Quarterly results from Goldman Sachs ($GS (+3,5 %) ), BlackRock ($BLK (+0,66 %) ) and Servis1st Bancshares ($SFBS )

Tuesday:

• Start of the ⚠️Amazon Prime Day⚠️
• Continuation of the Republican National Convention
• Publication of retail sales (June), business inventories (May), import/export prices (June) and the real estate market index (July)
• Quarterly results from UnitedHealth ($UNH (-1,21 %)), Bank of America ($BAC (+2,44 %)), Morgan Stanley ($MS (+0,94 %)), Charles Schwab ($SCHW (+0,64 %)), PNC Financial ($PNC (+1,82 %)), State Street ($STT (+2,07 %)) and J.B. Hunt Transport ($JBHT (+2,82 %))
• Statements by FED Governor Adriana Kugler

Wednesday:

• End of of the ⚠️Amazon Prime Day⚠️
• Continuation of the Republican National Convention
• Publication of housing data (June) and industrial production (June)
• Publication of the FED Beige Book
• Quarterly results from Johnson & Johnson ($JNJ (-1,21 %)), US Bancorp ($USB (+2,02 %)), Kinder Morgan ($KMI (-0,82 %)) and Discover Financial Services ($DFS (+5,48 %))

Thursday:

• Publication of the weekly Jobless Claims (until July 13)
• Publication of of the Philadelphia Fed Manufacturing Index (June)
• Quarterly results from TSMC ($TSM (+4,57 %)), Netflix ($NFLX (+1,43 %)), Novartis ($NVS (+0 %)), Abbott ($ABT (-1,36 %)), United Airlines ($UAL (-1,27 %)) and Intuitive Surgical ($ISRG (+0,68 %))
• ⚠️Abschluss of the Republican National Convention with speeches by Donald Trump (not sure)⚠️

Friday:

• Quarterly results from American Express ($AXP (+1,56 %)), Travelers Cos. ($TRV (-1,3 %)), Halliburton ($HAL (+0,08 %)), Fifth Third Bancorp ($FITB (+1,98 %)), Huntington Bancshares ($HBAN (+1,91 %)) and Regions Financial ($RF (+2,45 %))
• Statements from New York
  FED President
  John C. Williams and Atlanta Federal Reserve President Raphael Bostic

Additional purchase due to strong figures, which in my opinion are also exposed to a relatively small risk of moving strongly into negative territory in the future. This is also a reallocation and, as intended, gives me a higher weighting in a very solid company with a reasonable valuation.