Bank of America Corp (BAC) Tries to Assure Dow (.DJI)

American Express Company (NYSE:AXP) is also down in trading this morning, with a 0.6% drop in share price. The only real news for the personal finance company is the announcement of its CFO’s retirement. Daniel Henry, who joined AmEx as CFO in 2007, will retire once a suitable replacement has been found. This move is not a surprise for the 63-year-old executive, who is working hand in hand with CEO Kenneth Chenault to help with the transition.

Insurance companies have also been struggling against the pressures of low interest rates, with their all-important investing operations suffering from lower yields. Travelers Companies Inc (NYSE:TRV) is in the red this morning, with a lesser drop of 0.21% as of this writing. Despite the pressure from low bond yields, the company announced impressive earnings in April. As one of the favorites of Street hedge funds, Travelers Companies Inc (NYSE:TRV) has been getting plenty of good press from analysts, with a reiterated “buy” rating from TheStreet, an “outperform” from Raymond James, and a boost to its target price. The increase to $97 gives current investors a 12.2% upside based on yesterday’s close.

The article Bank of America Tries to Steady the Dow as Other Financials Fall originally appeared on Fool.com and is written by Jessica Alling.

Fool contributor Jessica Alling has no position in any stocks mentioned — you can contact her here. The Motley Fool recommends American Express Company (NYSE:AXP). The Motley Fool owns shares of Bank of America Corp (NYSE:BAC) and JPMorgan Chase & Co. (NYSE:JPM).

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