Stocks have rallied just after 1 pm ET as oil broke through the lows of yesterday ($132). Oil is now down 11 percent from its intraday high last Friday.
The overall market rallied, but in particular consumer discretionary stocks (retailers, autos, home builders) rallied. Good examples: General Motors(up 9.6 percent), Marriott(up 7.9 percent), Lennar(up 6.6 percent), Lowe's (up 4.8 percent).
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