JPMorgan Upgrades American Express Amid Heightened Geopolitical and Macro Risks
JPMorgan raised American Express to Overweight in its consumer finance preview, even as the firm signaled broad caution across the sector. The bank cautioned that renewed U.S.-Iran hostilities, a cooling labor market and a hawkish rates backdrop - with mortgage rates near 6.5% - could depress consumer and refinance activity. JPMorgan left other con…