The move in credit card and payment-related stocks on Friday shows that investors are looking forward to the Visa network (NYSE:V) and Mastercard (NYSE: MA) to outperform credit card lenders when it comes to holiday shopping they go into high gear.
Earlier, the National Retail Federation predicted that holiday retail sales in November and December would increase 6%-8% from a year ago, down from the 13.5% seen in 2021.
In Friday’s short session, Visa (V) rose 1.1% and Mastercard (MA) advance 0.8%. In contrast, Capital One Financial (NYSE: COF) and Discover Financial (NYSE: DFS) everyone came out and 0.1% increase. Synopsis of the company Synchrony FinancialNYSE: SYF), however, rose 0.6%.
Other dividend-oriented stocks posted big gains. Lightspeed Commerce (NYSE: LSPD) ran top 1.2%Global Payments (NYSE:GPN) +1.6%and Paysafe (NYSE: PSFE) an increase of 4.8%.
Dave (NASDAQ: DAVE), which offers its members small loans, saw its properties jump 12%.
Buy Now, Pay Later titles, dropped on Black Friday. Confirm Holdings (NASDAQ: AFRM) fell 1.7%block (NYSE: SQ), who own Afterpay, down 0.8%and PayPal, which owns its BNPL business, down 0.8%.
Looking at the full year, Visa ( V ) and Mastercard ( MA ) posted gains, compared to declines in the S&P 500 ( SP500 ), Capital One ( COF ), Lightspeed ( LSPD ), and Affirm ( AFRM ) remaining. benchmark index as seen in the chart below.
In the past, Macy’s ( M ), Walmart ( WMT ), and Ulta Beauty ( ULTA ) have been named Black Friday stock picks.