Banks Face Credit Card Selloff; Allegiant to Buy Sun Country; Shake Shack Sinks
On this episode of Stock Movers:- A selloff in shares in credit card firms and banks following Trump comments about capping interest rates casts a pall over the US financial sector ahead of a big earnings week for US firms. Trump said that credit-card lenders would be “in violation of the law” if they don’t heed his call to cap interest rates at 10% for one year. That’s sent shares of card issuers such as Capital One, American Express, Citigroup and JPMorgan lower in US pre-market trading, and also weighed on Barclays, which has a US credit card business. Credit card…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.