The Daily Editor

While the investing philosophy was different earlier in his career, Warren Buffett popularized the concept of an economic moat in recent decades. This characteristic highlights the presence of durable competitive advantages. Businesses that possess this are a rare bunch.

In the world of financial services, American Express (AXP +1.23%) certainly fits the bill.

GDP grew by 1.5 percent in the second quarter following a 2.1 percent increase in first quarter.

Economic growth in the United States slowed in the second quarter amid a growing trade deficit and tensions between the US and Iran which weighed on global fuel prices.

• Apple’s market cap at the time of writing stood at $4.98 trillion, while Nvidia’s market cap hovered around $4.68 trillion.

• Apple is reportedly preparing its biggest push into the smart home market yet, with plans to launch a Siri AI-powered home hub alongside a refreshed Apple TV and HomePod mini.

• Shares of AAPL surged to an all-time high of $342.89 on Tuesday after its market capitalization topped $5 trillion briefly during trading hours.

• KO stock clocked an all-time high of $90.22 on Tuesday after the company’s second-quarter results beat Wall Street expectations.

• PM stock also jumped to a record high of $207.76 on Tuesday after it announced the opening of its Aurora,