Stocks on Wall Street opened lower on the heels of weekly initial jobless claims data that spiked by 137,000 to a seasonally adjusted 853,000, well above expectations for 725,000 and the highest level since mid-September, underscoring the need for fresh stimulus measures to support a flagging economy.
“If this is the start of a trend, we will test the capacity of the market to remain optimistic by looking past a really tough environment that is on the ground right now.”FILE PHOTO: A trader wearing a mask reacts at the closing bell, on the first day of in person trading since the closure during the outbreak of the coronavirus disease on the floor at the New York Stock Exchange in New York, U.S., May 26, 2020.
The S&P energy index closed at a six-month high as Brent crude prices surged above $50 a barrel for the first time since early March. The group has surged 36.2% this quarter, the best performing of the 11 major S&P sectors, as investors have looked to names that could benefit from an economic reopening.
'This time is different.' Words that are said before every bubble in history burst.
The lawmakers argued in their brief that state legislatures’ power to determine presidential electors were “usurped” by governors, state courts, state election officials, and other administrative bodies. an unprecedented number of serious allegations of fraud and irregularities
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