Dow jumps 370 points even as recent weeks’ unemployment tally tops 26 million
U.S. stocks climbed Thursday morning after weekly data showed the pace of job losses slowing, while Congress was expected to vote on further aid for small businesses later in the session.
See: Jobless claims jump another 4.4 million — 25 million Americans have lost their jobs to the coronavirus There are still big unknowns — and hurdles — ahead, Calcagni said in an interview. “This White House has been a train wreck and it’s going to spook businesses and consumers if we re-open the economy too soon.”
“We truly do believe as we move forward, with responsibly beginning to reopen the economy in state after state around the country, that by early June, we could be at a place where this coronavirus epidemic is largely in the past,” he told the Journal. Of the 84 S&P 500 companies that have reported so far, 66.7% have posted results above consensus estimates, while 28.6% have missed the mark. By comparison, over the past four quarters, 74% of companies beat estimates and 19% missed, according to the analytics company.How are other markets trading? The benchmark U.S. 10-year Treasury note TMUBMUSD10Y, 0.606% was down near 0.625% as investors remained interested in haven assets despite the rally in stocks.
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