The stock market rallied on Wednesday as AI-related stocks rebounded, helping the market recover much of last week’s steep selloff.
Overall, S&P 500 jumped 1.3% to 7,619, while Nasdaq rose 1.6% to 25,466.
CoreWeave (CRWV) was a standout performer as it accelerated 25%. Nebius (NBIS) and Lumentum (LITE) also stood out with 15% and 11% growth.
Chart of the Day
Here is the one-year chart of American Express (AXP) as of October 29, 2026, when the stock was at $324.
Last quarter, American Express delivered 13% profit growth on a 9% increase in revenue. Younger people continued to represent an important growth engine, as Billed Business was +35% among Gen Z and +11% among Millenials. Notably, 65% of new accounts acquired last quarter were from the Millennial & Gen Z cohorts.
In Billed business, growth was +8% versus +9% the prior quarter. Also, revenue growth slowed slightly from +10% to +9% sequentially.
This was a decent quarter from American Express.
AXP is part of the Conservative Portfolio. With a P/E of 16, this stock is a great value here.
