American Express heads to court to defend itself in an antitrust lawsuit brought on it by the U.S. Justice Department. The government agency charges Amex with impeding competition with its restrictions on merchants. The credit card company, which charges some of the highest processing fees, bans merchants from offering incentives to customers who pay in cash or with lower-charging credit cards. The lawsuit stems from a 2010 case whereby the Justice Department and 17 states, including Michigan, Ohio and Texas, sued Amex, Visa and MasterCard. However, Visa and MasterCard have since settled the charges against them.
More from Video
How quickly do we find support, is what we'll want to know now, as the correction is occurring while economic optimism builds.
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Salesforce, Amgen and Honeywell will give a lift to the DJIA going forward.
CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.