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Wall Street recedes from record, cyclicals fall

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NEW YORK - U.S. stocks fell on Monday, pulling back from record levels as investors held off from making big plays ahead of the start of earnings season.

Cyclical stocks, which are tied to the pace of economic growth, were among the weakest of the day. Industrial shares fell 0.6 percent while the only sectors in positive territory were defensive groups like utilities and telecom.

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