(CNBC) Stocks cut losses on Thursday with rising transports as investors also weighed the geopolitical situation in both the Middle East and Russia-Ukraine region.
"The transports are leading the market higher and utilities as well," Peter Cardillo, chief market economist at Rockwell Global Capital, said. "The market—although it's going through some sort of technical adjustments—is still showing a lot of strength."
"With oil prices coming down, obviously transports are favored," he said.
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