Key Backgroundimpact poorer consumers more as they spend a greater portion of their income on price-sensitive goods and have less savings to dip into. The guidance on high-end consumers’ spending habits amid a poor macroeconomic environment was “much better than expected,” Goldman Sachs analysts led by Ryan Nash wrote in a Friday note to clients.
at technology firms like Google and Amazon haven’t had “any impact” on American Express’ core business thus far, Squeri added.
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