US card firms rise as markets rebound amid hopes for tariff negotiations

Shares of U.S. credit card firms rise premarket, signaling a rebound, as investors keenly await any sign of the U.S. opening up for negotiations over some of the aggressive tariffs

American Express AXP.N up 5%, Mastercard MA.N and Visa V.N rise 3% each

China said on Tuesday it will never accept the "blackmail nature" of the U.S. to Trump's threat to ratchet up tariffs on imports from China to more than 100%

This was in response to China's decision to match "reciprocal" duties he initially unveiled last week

Payment firms face the risk of weak credit card spending, as consumer confidence is expected to take a hit from economic uncertainties stoked by the trade war

Since Trump announced tariffs last Wednesday, AXP has fallen 14.9%, MA down 11.3%, and V has fallen 9.8%, as of last close