Core Viewpoint - The upcoming earnings report from American Express is anticipated to provide insights into the high-end consumer market, with analysts expecting an EPS of $3.96 and revenue nearing $18 billion, reflecting a 10% increase in shares this year [1][2]. Group 1: Consumer Resilience - The narrative from banks and credit card companies indicates strong consumer resilience, particularly among higher-income consumers who are driving spending growth [3][4]. - Consumer spending is projected to grow annually by 3% to 5%, supported by a shift towards digital transactions and enhanced rewards programs [4][6]. Group 2: American Express Performance - American Express is expected to report charge volume growth in the mid to high single digits, around 7% to 8%, due to robust travel and corporate spending among high-end consumers [6][10]. - The company's closed-loop system, which integrates banking, issuing, marketing, and collection, provides a competitive advantage over Visa and Mastercard, allowing for better customer targeting and fraud prevention [9][10]. Group 3: Market Comparisons - American Express, Visa, and Mastercard have all seen stock performance increase by over 8% in the past year, with American Express benefiting from its focus on high-end consumers who typically have lower credit losses [9][10]. - The stock has recently consolidated about 6% below its all-time highs, with options pricing indicating a potential move of approximately 3.7% post-earnings [12][13].