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The stock market's recent attempt to lift off of session lows has run into resistance. That has left stocks to continue trading with sizable losses, although the stock market is still above its worst level of the day.
Oil prices have been paring losses this afternoon. The energy component had been just beneath $99.50 per barrel in electronic trade this morning, but contracts are now quoting oil prices at $100.80 per barrel, which makes for only a 0.4% loss.
Oil's rebound is helping the energy sector make a push toward the neutral line. The energy sector is now down just 0.2%. Tech, down 0.7%, makes up the next best performing sector.
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