Stocks Finish Higher Even After Another 870,000 Americans File For Unemployment

The market swung between gains and losses on Thursday, as worse-than-expected jobless claims data disappointed investors but tech shares tried to rebound from recent losses.The Dow Jones Industrial Average was up 0.20%, around 50 points, on Thursday, while the S&P 500 rose 0.30% and the tech-heavy Nasdaq Composite gained 0.37%.

Stocks initially fell after U.S. weekly jobless claims came in worse than expected: 870,000 more people filed for first-time unemployment benefits for the week ending September 19, higher than the 850,000 forecast by economists. Continuing claims decreased by 167,000 to 12.6 million: Despite the recent improvement, that level remains much higher compared to previous recessions.

Shares of Big Tech stocks, which have been the source of the selloff in recent weeks, rebounded somewhat on Thursday: Amazon, Facebook, Microsoft and Google-parent Alphabet all moved higher. Shares of Apple rose by nearly 3%, reversing some of its losses this week: The stock fell into bear market territory after plunging another 4% on Wednesday, down more than 20% from its record close on September 1.

skleb1234 The continued influx of hundreds of millions of public dollars In the stock market makes this possible. One day this will end and the stark realization that business’ success and the American people’s personal ability to support those businesses will be realized.

skleb1234 Wtf?

skleb1234 That shows you, when Trump brags about the Economy, he's actually talking about the Stock Market. Most Americans do not have a 401k or stocks/bonds. Most Americans weren't doing better than they were in 2015, its all smoke and mirrors. The Stock Market is booming due to Tax Payer

skleb1234 Something like 10% of the population owns 80% of the wealth in the stock market. Please stop trying to connect the market to unemployment

skleb1234 The rich get even richer and the poor get even poorer. It’s always been like that

skleb1234 That's becuase there is no connection between Wall Street and Main Street - contrary to what the POTUS thinks. Bragging about market gains while almost a million people file for unemployment shows how disconnected he is as well

skleb1234 As long as the rich continue to grow richer, it will continue thusly.

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