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Stocks Supported By Gains in Banking, Energy Sector

Led by gains in the financial and energy sectors, the Dow Jones Industrial Average and S&P 500 are clinging to modest gains, while the Nasdaq is struggling to stay positive on steep losses in Intel ( INTC ) and technical resistance at the 50-day moving average.

Energy shares are getting a boost Tuesday by remarks from the Saudi Arabian oil minister regarding possible production cuts by members and non-members of the Organization of Petroleum Exporting Countries, as well as an unexpected drop in oil stockpiles. Meanwhile, financial stocks are buoyed by upbeat third quarter results from Morgan Stanley ( MS ) and US Bancorp ( USB ).

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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