The Dow Jones Industrial Average (NYSE:DIA) spiked up to 11,414 today. The Travelers Companies Inc (NYSE:TRV) was up more than 4.36% in the hot financial sector. The share price is trading near its 52 week low of $46.62 and is over 4% below its 50-days simple moving average of 52.27.
An executive suite shakeup at Bank of America (NYSE:BAC) has the media and Wall Street speculating about CEO Brian Moynihan’s future. Bank of American is restructuring its management team to concentrate the bank’s operations under three divisions: people, companies and institutional investors. The bank named David Darnell and Tom Montag as co-chief operating officers. The share price has jumped more than 6% in today’s rally as investors seem to be bullish about the financial sector.