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The major equity averages have pulled back a bit since making a nice start to the session. Gains remain broad, but energy stocks are out in front with a 0.9% gain. The group is currently led by oil and gas equipment plays and refiners. Telecom continues to trail. The sector is down 0.9%. With its slide this morning, the telecom sector has shed more than 5% over four sessions so that it is coming within reach of its 50-day moving average.
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