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Michael Ashbaugh

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May 3, 2019, 11:49 a.m. EDT

Bull trend intact: S&P 500 absorbs Fed-fueled downturn, rallies from first support

Focus: Transports maintain major support, Regional banks clear 200-day average, Amazon sustains earning-fueled breakout, IYT, KRE, AMZN, COF, IPHI, BLDR

By Michael Ashbaugh, MarketWatch

U.S. stocks are higher early Friday, rising after a stronger-than-expected monthly jobs report.

Against this backdrop, the S&P 500 has absorbed a mid-week Fed-fueled downturn, rising from a shaky, but successful, test of first support (2,916).

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