American Express is a global financial institution, operating in about 130 countries, that provides consumers and businesses charge and credit card payment products. The company also operates a highly profitable merchant payment network. It operates in four segments: US consumer services, US commercial services, international card services, and global merchant and network services. In addition to payment products, the company's commercial business offers expense management tools, consulting services, and business loans.

American Express is a global financial institution, operating in about 130 countries, that provides consumers and businesses charge and credit card payment products. The company also operates a highly profitable merchant payment network. It operates in four segments: US consumer services, US commercial services, international card services, and global merchant and network services. In addition to payment products, the company's commercial business offers expense management tools, consulting services, and business loans.

American Express is a global financial institution, operating in about 130 countries, that provides consumers and businesses charge and credit card payment products. The company also operates a highly profitable merchant payment network. It operates in four segments: US consumer services, US commercial services, international card services, and global merchant and network services. In addition to payment products, the company's commercial business offers expense management tools, consulting services, and business loans.

The Fed again has taken a tightening stance for monetary policy. Policymakers lifted the fed funds target range to 3.75%-4% last week -- and history suggests that more rate hikes are coming. Ahead of the rate move last week, Argus Fed Watcher Kevin Heal changed his forecast to two rate increases of 25 basis points each before the end of 2026. His rationale is that employment is surprisingly healthy while inflation has been obstinate and the bond market has agita. We do not expect that two rate hikes will derail earnings growth or stunt innovation. Kevin says that two increases should keep the Fed from falling out of step if inflationary shocks persist, while not over-medicating the economy if inflation moderates. In sum, the economy is still strong and the Fed is doing its job by trying to keep inflation in check. Given the return to tightening monetary policy, we are looking at industries and companies that can do well during a period of higher interest rates. All of the following stocks carry Argus BUY ratings.