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Stocks slid to session lows about a half hour ago, even though oil prices were stuck in a sideways drift. However, a recent retreat by oil prices to a 0.7% loss at $97.30 per barrel has helped stocks rebound to afternoon highs -- in just 30 minutes the Dow has slashed its 100-point loss in half.
The drop in oil prices has been particularly kind to airline stocks and transportation stocks. As such, the Amex Airline Index is now up 1.2% and the Dow Jones Transportation Index is up 0.7%.
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