This morning, Visa Inc (NYSE:V) and MasterCard Inc (NYSE:MA) are surging sharply higher. The catalyst for the rally in these two leading stocks is strong reaction to the MasterCard earnings announcement. MA stock will have some short term intra-day resistance around the $385.00 level. Visa Inc stock is obviously trading higher in sympathy to the MasterCard earning report. Visa stock is now trading at a new all time time at $106.13 a share.
Other leading credit card stocks that are trading higher include American Express Co (NYSE:AXP), and Discover Financial Services (NYSE:DFS). It is important to note that AXP, and DFS are also bank holding companies, therefore, they will not always trade along with Visa and MasterCard with are credit card processing companies.