Despite more than 6 million new job losses, the stock market opened higher today, after the fed pumped another $2.3 trillion into the economy by skleb1234
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.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Coronavirus live updates: New York death toll has largest single-day jump; musician John Prine diesFlags flies at half-staff in Weehawken, New Jersey, while the sun rises behind the Manhattan skyline, as the region suffers through the coronavirus pandemic.
Read more »
Indonesia reports biggest daily jump in coronavirus infectionsIndonesia confirmed on Thursday the biggest daily jump in coronavirus infections since cases were first announced last month, with 337 new cases taking the total to 3,293, said a health ministry official, Achmad Yurianto.
Read more »
Coronavirus live updates: New York death toll has largest single-day jump, Cuomo says'We have to start planning restarting life. We're not there yet.' New York Gov. Andrew Cuomo says he's working with neighboring governors to come up with a 'regional approach.' 'It's going to come down to how good we are with testing.'
Read more »
Coronavirus live updates: New York death toll has largest single-day jump, Cuomo saysA global pandemic of the novel coronavirus has now killed at least 11,830 people in the United States. The U.S. has more cases than any other country, with over 378,000 people diagnosed with COVID-19, the disease caused by the new respiratory virus, according to data compiled by the Center for Systems
Read more »
Calls to US helpline jump 891%, as White House is warned of mental health crisisFederal officials on the front lines of the U.S. government’s pandemic response have privately warned members of the White House and Department of Homeland Security that many more Americans will find themselves in “dire straits” over the coming weeks, and that U.S. agencies have yet to properly prepare
Read more »