Stocks Turn Positive Despite Worse Than Expected Jobless Claims

  • 📰 Forbes
  • ⏱ Reading Time:
  • 48 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 22%
  • Publisher: 53%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

The market opened lower today, with stocks taking a hit from worse-than-expected weekly jobs data and fears over a resurgence in coronavirus cases across the U.S. by skleb1234

The Dow Jones Industrial Average was flat by midday on Thursday, while the S&P 500 was up 0.1% and the tech-heavy Nasdaq Composite gained 0.4%.

Stocks initially opened lower on the back of disappointing jobless claims data: Another 1.5 million AmericansEven though claims have fallen dramatically from their peak in March, when 6.9 million people filed in just one week, this week’s data underscores that the economy will not bounce back quickly after the coronavirus pandemic is over.

Investor sentiment has also taken a hit from fears of a resurgence in coronavirus infections across the country: Many states reopening, such as Arizona and Texas, are seeing record numbers of new cases. Parts of the U.S. that have started reopening but are now seeing spikes in new cases are “on the cusp of losing control” over the virus, former FDA Commissioner Dr. Scott GottliebShares of companies that would benefit from the economy reopening—including airlines, retailers and cruise operators—led the markets lower at the open but later recovered their losses and moved higher.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 394. in MY
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Asia stocks turn cautious on virus surge, geopoliticsAsian share markets took a cautious turn on Wednesday as a resurgence of global coronavirus cases challenged market confidence in a rapid economic recovery, even as the rebound in U.S. retail sales in May broke all records. I really give respect to bojo to how he handled the epidermic and how he recovered.... Silly of those stocks, really...
Source: Reuters - 🏆 2. / 97 Read more »

Stocks turn mixed on Wall Street following three days of gainsStocks are mixed on Wall Street early Wednesday as markets around the world take a pause following their big rally a day before.
Source: latimes - 🏆 11. / 82 Read more »

U.S. stock futures turn higher as European stocks gain groundReversing early losses, U.S. stock futures undefined turned higher Thursday, as did European markets, with the German DAX undefined rising 0.7%. The see-saw... We called all this weeks ago - It's NOT back to normal. SEE WHY: Plausible-deniability ensure all suicides caused by DeptVetAffairs are not prosecuted. Without accountability for the crimes, VA perpetrators continue helping upregulate veterans suicide. Vet's EARNED and DESERVE help. It's time for a complete-care organization.
Source: MarketWatch - 🏆 3. / 97 Read more »

Mark Zuckerberg announces Facebook will now allow users to turn off political ads - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Not enough 👏👏👏👏👏👏👏👏👏👏👏👏 Not enough, stop the political interference.
Source: BusinessInsider - 🏆 729. / 51 Read more »