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American Express stock leads Dow losers after 2019 outlook disappoints bulls

Shares of American Express Co. slumped Friday, after a positive earnings report and confirmation of its full-year outlook wasn’t quite good enough for the recent rally to record highs to resume.

The stock AXP, -2.52% slumped 2.5% in active afternoon trading, as volume of 4.9 million shares was already well above the full-day average of about 3 million shares.

The decline was enough to make the stock the biggest loser within the SPDR Financial Select Sector exchange-traded fund XLF, -0.20% and among Dow Jones Industrial Average DJIA, -0.01% components. The fall ends a week that started with Monday’s record close of $128.57, which capped a 5-session streak of record closes.

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