Stocks fell on Friday after American International Group , the world's largest insurer, reported a record $7.8 billion quarterly loss, reviving concerns about the financial services sector.
Shares of national banks mostly rose Friday, though Citigroup Inc.(Stock Boards, Stock Quotes, Stock Charts ) shares slipped after the company disclosed that it plans to shed nearly $500 billion in assets.
Ameristar Casinos Inc. shares rose Friday as an analyst said the casino operator is the best-positioned in a difficult environment and upgraded the stock.
An analyst predicted a "smooth succession" for newly named Alcoa Chief Executive Klaus Kleinfeld, saying he expects him to make few radical changes to the aluminum maker.