Payment firms pop on easing CPI

Marqeta

13/12/2022 13:48

** Shares of payment firms jump premarket after
lighter-than-expected inflation data
    ** Consumer price index (CPI) climbed 7.1% in past 12 months
through Nov, raising hopes the Fed could begin scaling back size
of future rate increases
    ** Major credit card cos rise before the bell: American
Express Co  AXP.N  stock up 1.0%, Visa Inc  V.N  2.7% and
Mastercard Inc  MA.N  3.0%
    ** Fintechs gain: Block Inc  SQ.N  6.9%, PayPal Holdings Inc
 PYPL.O  4.1%, Affirm Holdings  AFRM.O  8.8%
    ** SoFi Technologies  SOFI.O  rises 4.7%, Upstart Holdings
 UPST.O  gains 8.5%
    ** Equity futures surging, as expectations US central bank
will increase benchmark rate by 50 basis points on Weds shot up
to near certainty with rates seen peaking next May at 4.86%  .N 
 FEDWATCH 
 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))