Mastercard stock rises as Morgan Stanley flags cross-border strength ahead of U.S. jobs report
Mastercard shares rose 0.7% to $584.60 by midday Wednesday, outperforming Visa, which slipped 0.4%. Morgan Stanley maintained an “overweight” rating, citing growth in cross-border fees and security services. About 1.36 million Mastercard shares traded as investors watched for Friday’s U.S. jobs report and the Jan. 9 dividend record date. U.S. private payrolls rose less than expected in December, ADP reported.