MW: Financials flat in quiet trade, but sell rating hits AmEx
NEW YORK (MarketWatch) -- U.S. financial stocks were flat to modestly higher, with highlights including a big gain in insurer Genworth and a more than 4% drop in American Express shares after two analysts rated the shares sell. The Financial Select Sector SPDR an ETF that tracks the financial stocks in the S&P 500, added 0.6%. Genworth shares added 23%. American Express, a Dow Jones Industrial Average component, slipped about 5%, after Citigroup analysts began coverage of the shares with a sell rating, saying they expect the firm's credit to deteriorate faster than rivals does after an aggressive growth spurt in 2006 and 2007.
