Stocks rise despite dismal coronavirus unemployment data

Another Thursday with a shocking number of workers losing their jobs, another gain for the stock market.

The weekly report on jobless claims has become one of the best ways to measure in real time how severely the coronavirus outbreak is crunching the economy. Over the last five weeks, it’s shown roughly 26 million people filed for jobless aid, or about 1 in 6 U.S. workers. But if this morning’s market gains hold, this will be the fifth straight Thursday when the S&P 500 climbed following a dismal jobless report.

That, plus massive aid for the economy from the Federal Reserve and Congress, has pushed the S&P 500 up 25% since late March. The House is set to vote Thursday on another package of nearly $500 billion in small-business loans and aid for hospitals, a proposal that the Senate approved this week. Stocks have roughly halved their loss since their February record, and the S&P 500 is down less than 17% since then.

Without provisions and oversight with the 2 trillion dollar aid to wealthy corporations, they are buying back their own stocks.

Fuck Wall Street

Meanwhile THIS 👇(Mass Graves) is happening in America 🇺🇸 ... And Globally Yeaaaa, stock market, rt !?!

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

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

Stocks open slightly higher on Wall Street, crude oil risesNEW YORK (AP) — Stocks opened slightly higher Thursday, even after the government said 4.4 million more workers filed for unemployment benefits last week as layoffs sweep the economy. The S&P 500... Is that sick or what Who are these buyers? 🧐 You seem disappointed?
Source: AP - 🏆 728. / 51 Read more »

Wall Street analysts see upside in stocks like Amazon ahead of earningsNew for subscribers: Wall Street analysts see upside in stocks like Amazon ahead of earnings Check out CNBCPro for a free trial. Pro 5 ways prayer can change your reality.(video) Pro Gee, the average person wouldn't be able to predict there would be an upside in a stock such as Amazon. Those analysts must be rock scientists! Pro The true roadmap of Capitalism leads to Fascism. US has proved that repeatedly since 1980. Small business owners realize that now also.
Source: CNBC - 🏆 12. / 72 Read more »

Asia stocks set to rise after Wall Street gains on oil reboundAsian equity markets were poised to edge higher on Thursday after rebounding crude prices and the promise of more U.S. government aid to ease the economic pain inflicted by the coronavirus crisis helped calm global equity markets.
Source: Reuters - 🏆 2. / 97 Read more »