Despite more than 6 million new job losses, the stock market opened higher on Thursday thanks to a timely announcement from the Federal Reserve, which will inject an additional $2.3 trillion into the U.S. economy amid ongoing uncertainty from the coronavirus pandemic.
At Thursday’s open, the Dow Jones industrial average gained nearly 2%, around 450 points, while the S&P 500 rose 1.5% and the Nasdaq Composite was up 1.3%.that it will inject another $2.3 trillion into the economy, with the money going to households and businesses as well as state and local governments.: 6.6 million people filed for first time unemployment last week.
Rising unemployment numbers are the latest indicator of how badly the coronavirus has hit the U.S. economy: Overall, more than 16 million Americans have filed for unemployment benefits over the last three weeks. The latest jobless claims data and Fed announcement follow the stock market’s rally on Wednesday—both the Dow and S&P 500—after Senator Bernie Sanders dropped out of the presidential race and investors struck a more optimistic tone about the coronavirus outbreak soon turning a corner.
Wall Street has rallied in recent days thanks to the fact that new COVID-19 cases, both in the U.S. and globally, have started to slow since last week, according to data from Johns Hopkins University.After Wednesday’s rally, the Dow and S&P 500 are both up over 20% from their low points on March 23. Both indexes are up more than 10% this week alone.
skleb1234 Not exactly the truth of what the Fed did today. It will leave American citizens even angrier than ever before, as they lose everything & try to figure out where all the money went. Sad, really sad, such a dysfunctional nation. Putting everything at risk. Sad🤒💩
skleb1234
skleb1234 And the rich get richer while the rest of us are trying to get on the website for unemployment or small business loans.
skleb1234 Tea Party:
skleb1234 Keep pumping!
skleb1234 If you're at home and looking for more ways to support American Businesses, please fill out our survey. → Your response is important! MadeinAmerica AmericanMade StayHome
skleb1234 Amazing timing for the pump👏