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American Express(AXP Quote) has more than doubled in the past two months on optimism consumers are ready to crack open their wallets as the economy slowly starts to grow again. Shares of Visa(V Quote) and MasterCard(MA Quote) also have rebounded.
Investors ought to temper their enthusiasm. The share prices of credit card companies are frighteningly high relative to earnings prospects and the profit-payoff date seems frustratingly elusive. A decline in consumer credit and an increase in anti-credit-card-fee sentiment in Congress and the White House are pulling the reins on further gains.
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
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Oil *
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