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Stocks have steadily extended their advance so that the three major equity averages are at fresh session highs with gains comfortably above 1%.
Natural resource plays continue to attract the most support. In turn, the materials sector is up 2.0% and the energy sector is up 2.2%. Even though natural resource plays are in such strong shape, Olympic Steel (ZEUS 27.82, +0.15) is only up moderately after it posted for the latest quarter earnings that greatly exceeded what had been expected. Peers US Steel (X 46.41, +0.29) and AK Steel (AKS 15.07, -0.02) are laggards, too.
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