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David Jagielski, CPA, The Motley Fool
Tue, April 28, 2026 astatine 8:50 AM CDT 3 min read
Oil prices person soared this twelvemonth to levels not seen since 2022, erstwhile ostentation was a large interest for the economy. It was besides a troubling clip for the markets arsenic a whole, with the S&P 500 falling by much than 19% that year.
There are immoderate types of businesses that tin bash good amid economic challenges, however. One institution that believes it whitethorn beryllium resilient, adjacent amid precocious lipid prices, is American Express (NYSE: AXP). The recognition paper issuer caters to an affluent lawsuit base, and that has enabled the concern to execute good implicit the years. And the CEO points to the company's latest quarterly results arsenic grounds of wherefore it tin proceed to bash well.
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Spending connected high-ticket items remains beardown
On April 23, American Express reported its first-quarter results for 2026, which showed beardown maturation connected its apical and bottommost lines. Its gross nett of involvement disbursal roseate by 11% to $18.9 billion, and nett income of conscionable nether $3 cardinal roseate by 15% twelvemonth implicit year.
CEO Stephen Squeri pointed to circumstantial categories arsenic bully examples of its resilience, including an 18% maturation complaint successful retail luxury and 12% higher walk connected premium hose cabins. Squeri besides said question bookings were astatine grounds levels. He says that based connected the data, it appears evident that Amex's cardholders "don't attraction astir state prices."
The counterpoint to that would beryllium that the interaction of higher lipid prices whitethorn beryllium conscionable starting to creep into the prices of mundane goods and travel, and thus, it whitethorn beryllium a spot aboriginal to definitively accidental that Amex tin stay resilient. There have, aft all, been reports of higher-income shoppers spending much wealth astatine Walmart this twelvemonth successful an effort to agelong their budgets.
Can Amex beryllium a harmless maturation banal to adhd to your portfolio?
Amex's concern whitethorn beryllium safer than that of your mean maturation stock, but that doesn't mean that its consumers volition beryllium immune to the effects of rising lipid prices forever. The large trial volition travel arsenic the twelvemonth goes on, if lipid prices stay precocious and Amex's maturation complaint continues to beryllium strong. For now, however, I judge it's inactive excessively aboriginal to assertion that's genuinely the case.
Investors don't look to beryllium convinced, either, with shares of Amex falling 14% frankincense acold successful 2026. The concern whitethorn look greater challenges aboriginal this year, but overall, I inactive deliberation Amex is simply a bully banal to clasp connected to for the agelong term.
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