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American Express & Visa Account For 103% Of The Dow's Intraday Gains

Tyler Durden's picture




 

Visa and American Express are up over 4.5% each today (the latter more earlier) to new record highs (on a day when Facebook, Google, and Apple are plumbing the day's lows). The combined effect of the Visa and American Express gains are over 67 Dow points... the Dow is up 65.8 points on the day...

 

 

The AXP move is the largest since October 2011 and V the largest day jump since May 2013...

 

Looks like investors decide at 1045ET that it was time to sell AXP and greatly rotate into V.

 

Thank goodness for credit card companies (but the Dow remains red for the year)

 

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Fri, 01/17/2014 - 15:37 | 4341848 Dr. Engali
Dr. Engali's picture

Charge it bitchez!

 

http://youtu.be/WcQzdYk7QHE

Fri, 01/17/2014 - 15:59 | 4341904 NoDebt
NoDebt's picture

You know everything's going to be OK when the money-changers are popping.

Fri, 01/17/2014 - 16:02 | 4341909 Boris Alatovkrap
Boris Alatovkrap's picture

"If can control flow of money, is not care who is write law" - Meyer Anschel Rothschild (aka Satan Jr. Incarnate)

Fri, 01/17/2014 - 15:35 | 4341849 B.J. Worthy
B.J. Worthy's picture

VIX or GTFO.

Fri, 01/17/2014 - 15:35 | 4341850 fonestar
fonestar's picture

Amex & Visa..... buuh bye

Fri, 01/17/2014 - 16:03 | 4341915 NoDebt
NoDebt's picture

Seriously, you can't see the day they will offer a BitCoin credit card?  I find your lack of vision disturbing.

Fri, 01/17/2014 - 16:07 | 4341926 Boris Alatovkrap
Boris Alatovkrap's picture

Bit Coin is interesting, but is miss critical component, what is backing? What is represent? How is BitCoin unique of other crypto currency? Boris is full aware of folly of Central Plan Currency Issuance, but what is authority, good or bad? Any tokenize representation of wealth is still just is token and is 100% depend on counter-party acceptance in good faith. BitCoin is have same weakness as Petro Dollar with backing of US Military, er, Faith and Credit of government of USSA.

Fri, 01/17/2014 - 16:17 | 4341960 akak
akak's picture

Come on now, bitcoin IS essentially just another credit card ... just one that does not charge interest, for now ....

Fri, 01/17/2014 - 16:49 | 4342086 fonestar
fonestar's picture

If you had 1/10th of an understanding of Bitcoin (pro et contra) you would have to admit Bitcoin is more like a debit card than a credit card.

Fri, 01/17/2014 - 16:19 | 4341966 fonestar
fonestar's picture

If they do, it won't be these two that offer it.  And even if Bitcoin becomes some evil, one-world currency who cares?  I will just go along with it if it means I get rich and powerful.

Fri, 01/17/2014 - 16:22 | 4341984 dick cheneys ghost
dick cheneys ghost's picture

creators of the Fed=SECRET

creators of the Bitcoin=SECRET

GET IT ???

 

Fri, 01/17/2014 - 16:03 | 4341916 Boris Alatovkrap
Boris Alatovkrap's picture

BTATFH - aka, always is bigger sucker down stream.

(until isn't, then SHTF)

Fri, 01/17/2014 - 15:36 | 4341851 cossack55
cossack55's picture

Out the door to Target and Niemann as I type.  Whoopee.

Fri, 01/17/2014 - 15:37 | 4341853 Stoploss
Stoploss's picture

VIX is popping today, SSDD

Fri, 01/17/2014 - 15:39 | 4341857 q99x2
q99x2's picture

Send me some. I'll use them to buy Bitcoin and then send them back.

Hope they have that freakin ATM in NYC when I go there in Feb.

Who's making the Bitcoin credit cards?

Fri, 01/17/2014 - 15:40 | 4341859 Seasmoke
Seasmoke's picture

PRICELESS

Fri, 01/17/2014 - 15:49 | 4341873 Sudden Debt
Sudden Debt's picture

so you take free money...
and you "loan" it out to people hopping they never repay it... at 21%

and between those 2 actions you have to find a profit....

Fri, 01/17/2014 - 15:51 | 4341878 BandGap
BandGap's picture

So, the stock du jour makes sure this shit keeps pumping up?

Good plan, good plan. Whose turn is it next?

 

Fri, 01/17/2014 - 15:52 | 4341886 Rising Sun
Rising Sun's picture

amex missed on earnings and was $10M over the 8.54B target

 

stock up 4%

 

yippee kay yay motherfuckers!!!!

 

 

Fri, 01/17/2014 - 15:54 | 4341896 Bill of Rights
Bill of Rights's picture

Whats a Credit Card?...Oh my bad I forgot...Slavery.

Fri, 01/17/2014 - 16:23 | 4341993 PrecipiceWatching
PrecipiceWatching's picture

Slavery?

Only if used incorrectly.

Fri, 01/17/2014 - 16:43 | 4342070 dizzyfingers
dizzyfingers's picture

Not using VISA much anymore. Not buying much anymore and don't intend to. Eff debt.

Fri, 01/17/2014 - 17:15 | 4342132 TruthInSunshine
TruthInSunshine's picture

"Eff debt."

You are an enemy of the state according to Paul "When Mars Attacks" Krugman, Ben Shalom Bernanke, Ole' Janet Yellern, etc.

Fri, 01/17/2014 - 17:22 | 4342149 Palladin
Palladin's picture

The Dow Jones Industrial Average isn't an average, it's a marketing gimmick hatched in the mind of Charles Dow long ago. And as Tyler pointed out, just two stocks make up the entire move in the "Average" today.

I've put something together that explains the nonsense that is the Dow, how it started, how it's calculated, and how each of the individual stocks affect the overall "Average".

There is also a spreadsheet that will let you enter changes in the Dow and see how it changes the overall "Average".

If you want to have some fun, see if your, or any, financial advisor can explain what the Dow Divisor is and what is the numerical value. All you will hear is crickets.

https://drive.google.com/folderview?id=0B51-74tGswAXenRzN1cwZzJNS1U&usp=...

 

.

Fri, 01/17/2014 - 17:29 | 4342195 akak
akak's picture

Palladin, great job!

I only relatively recently realized to what an extent "the Dow" is a spurious and meaningless measure of the equities market, and the more that I continue to learn and understand about it, the madder and more infuriated I become with all the stock pimps to point to it, and especially to multi-decade charts of it, as some putative "proof" of the inherent value in holding stocks "for the long haul".

Fri, 01/17/2014 - 18:36 | 4342376 TruthInSunshine
TruthInSunshine's picture

Palladin's essay that he linked should be a featured article on the front page of ZH.

It goes well beyond the survivorship bias scam that the sell-side never wishes to discuss, and is a must read for anyone who believes modern stock market "investing" is anything other than a highly manipulated fraud & illusion.

Sat, 01/18/2014 - 12:40 | 4343960 Tinky
Tinky's picture

Outstanding exposition. Thanks much for your efforts!

Fri, 01/17/2014 - 17:23 | 4342175 Darksky
Darksky's picture

AXP and V are debt manufacturers, guess thats all we are good at anymore. Maybe Dow should add MA and COF and watch the index rocket higher.

Fri, 01/17/2014 - 17:32 | 4342204 rsnoble
rsnoble's picture

Basic translation:  People can't afford to pay cash and debt slaves are good for wallstreet.

We can't have a massive solar flare fast enough.

Fri, 01/17/2014 - 17:42 | 4342238 put_peter
put_peter's picture

I WAS an AXP customer...

Do NOT follow this link or you will be banned from the site!