Stocks Flat As Another 2.4 Million Americans File For Unemployment

The stock market opened slightly lower on Thursday, but futures cut losses even after another 2.4 million workers filed for unemployment, as investors continue to look ahead to a reopening of the country and economic recovery.Timothy A. Clary/AFP via Getty ImagesThe Dow Jones Industrial Average fell 0.22%, around 50 points, at Thursday’s open, while the S&P 500 was down 0.24% and the Nasdaq lost 0.12%.

Another 2.4 million Americans filed for unemployment the week ending May 16, bringing the total number of job losses over the last nine weeks toThe number of job losses, which were in line with Wall Street expectations, has been declining in recent weeks—but also signals that despite gradual reopenings across the country, workers are still struggling amid the coronavirus crisis.

Oil prices moved higher on Thursday, on track for their fourth straight week of gains, as West Texas Intermediate rose to trade at $34 per barrel—its highest level in more than two months. Stocks have largely moved higher this week as investors grow more optimistic about states lifting stay-at-home orders and reopening businesses, with hopes for a potential coronavirus vaccine lifting sentiment.

Flat? Predicting today or ignoring yesterday? Maybe neither

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The global markets will continue to experience fluctuations while the global economy tries to restart itself

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