Stocks continue to trade with hefty losses. Only the telecom (+0.3) sector is trading with a gain.
Integrated telecom (+0.8%) players are helping the sector as all seven
of the industry group members are trading higher. AT&T (T 28.32,
+0.23) is a notable leader, as is Verizon (VZ 31.42, +0.01). Though
the sector is showing relative strength this session, it may not be
insulated from broader market troubles. Just yesterday AT&T's
chief executive stated the tight credit environment is crimping the
company. He said that his company recently was unable to sell any
commercial paper with a longer term than overnight.