Michael Ashbaugh

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July 30, 2020, 11:52 a.m. EDT

Charting a GDP-fueled downdraft, Dow industrials challenge 200-day average

Focus: Transports sustain July break atop 200-day average, IYT, TWLO, BSX, PENN, HOME

By Michael Ashbaugh, MarketWatch

U.S. stocks are lower early Thursday, pressured after an ugly second-quarter GDP report, signaling an economy contracting at a record 32.9% annual pace.

Against this backdrop, the S&P 500 has maintained its range bottom — the 3,200 mark — while the Dow industrials have pulled in to a headline test of the 200-day moving average, currently 26,230.

Link to MarketWatch's Slice.