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

Shares of U.S. credit card firms rise, signaling a rebound, as investors keenly await any sign of the U.S. opening up for negotiations over President Donald Trump's sweeping tariffs

American Express AXP.N up 4.4%, Visa V.N rises 4.1%, and Mastercard MA.N up 3.7%

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

China had matched the "reciprocal" duties announced by Trump

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, as of last close, AXP has fallen 14.9%, MA down 11.3%, and V has fallen 9.8%