Financial Stocks Slightly Lower

Financial stocks were trending lower, with the NYSE Financial Sector Index falling nearly 0.4% while financial companies in the S&P 500 Index were declining about 0.3%. In company news, American International Group (AIG) was holding a moderate gain on Thursday, rising almost 1.3% to stay within a penny of its session high of $63.59 a share after the insurance conglomerate late Wednesday selected Peter Zaffino as its new global chief operating officer, effective Aug. 1.

Zaffino joins AIG following a stint as chief executive officer of Marsh & McLennan Companies’ (MMC) global insurance brokerage and risk management subsidiary and as chairman of its risk and insurance services segment since 2015.

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