The Briefing Room
General Category => Economy/Business => Topic started by: mystery-ak on May 14, 2020, 02:44:30 pm
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Stocks sink as nearly 3 million more file unemployment claims
By Sylvan Lane - 05/14/20 10:17 AM EDT
Stocks sunk Thursday after the Labor Department reported another staggering influx of unemployment claims, marking the fourth straight day of losses for Wall Street.
The Dow Jones industrial average was down more than 400 points, falling 1.75 percent, while the Nasdaq composite fell 1.6 percent and the S&P 500 sank 1.7 percent.
The stock market has slipped throughout May after rallying through April despite an onslaught of brutal economic data and rising coronavirus cases throughout the U.S.
more
https://thehill.com/policy/finance/497745-stocks-sink-as-nearly-3-million-more-file-unemployment-claims
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Stocks rebound from morning losses to snap three-day skid
https://thehill.com/homenews/news/497848-stocks-rebound-from-morning-losses-to-snap-three-day-skid
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It's anyone's guess these days as to what the market is going to do ... I am amazed with the massive unemployment, COVID deaths, Obamagate and everything else going on that the market is still seeing some noticeable upswings.
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Stocks rebound from morning losses to snap three-day skid
https://thehill.com/homenews/news/497848-stocks-rebound-from-morning-losses-to-snap-three-day-skid
This is what happens when you write obituaries for people who aren't dead yet.
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From what I've read, the recent skid was caused by the gloom and doom predictions of "experts" if the economy reopens. Yet, yesterday's rebound occurred in spite of the bad unemployment numbers. Go figure. Goes to show the "market gurus" don't know jack. One never knows what will cause the market to rise and fall.