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The major equity averages have managed to pare some of their losses so that they are now down modestly this morning. Pressure remains broad based, though; all 10 major sectors are in the red.
Tech issues have done a good job of limiting losses, though. The sector is down just 0.1% at the moment. Among tech issues, IBM (IBM 176.29, +0.75) is sporting a modest gain ahead of its quarterly report this evening. The Capital IQ earnings estimate calls for $3.02 per share. Big Blue generated earnings of $2.61 per share for the same period one year ago.
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