American Express (AXP) had a nice enough quarter. But, it was not stellar and the stock did not get out of hand after hours.

Revenue net of interest expense rose 11% to $6.945 billion. Net income was up 10% to $1.067 billion.

The market thought that was fine. The stock traded up a fraction at $56.90, not far from its 52-week low of $53.91. Wall St. still believes that the consumer is marching toward the grave.

Douglas A. McIntyre