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Though they were a bit slow to arrive, buyers have stepped in to provide a supportive bid that has helped stocks pare their losses.
Overall declines among the major equity averages are now modest. Despite the improved tone, materials stocks make up the only major sector that has made a move into positive territory. As a group materials stocks are up 0.3%.
Among materials plays, steel stocks are particularly strong. They are up 1.3% after dropping 2.4% in the prior session. AK Steel (AKS 15.79, +0.27) is a primary leader in the pack.
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