"American Express Confident in Resilient Credit Card Spending Amid Economic Slowdown"

American Express CEO Stephen Squeri attributes a rare earnings miss to a one-time $100 million hit from the devaluation of the Argentine peso, but investors remain optimistic about the company's future growth prospects in a slowing economy. The company saw strong sales in its US consumer services and commercial segments, as well as upbeat 2024 guidance, indicating confidence in its ability to perform well across different economic conditions.