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Stock market update for April 16, 2020

Stock market news

The US stock market at 2:07 PM, Thursday, April 16, 2020, Eastern Time (ET) is mixed with Dow and S&P 500 declining but Nasdaq rising. This is the latest stock market update:

S&P 500: 2,779.07,-4.29(-0.15%)
Dow 30: 23,329.48,-174.87(-0.74%)
Nasdaq: 8,457.07,+63.89(+0.76%)
Russell 2000: 1,163.14,-20.83(-1.76%)

Stock market data: Yahoo Finance

Economic news

“New jobless claims topped five million for the week ended April 11, bringing the four-week total to more than 22 million. Still, equity traders mostly looked past the data, which at least showed a decline in new claims over the prior week’s 6.6 million.

“The stock market seems to count job layoffs the same way they read the curve of new positive coronavirus cases and think that 5.245 million jobless claims this week is better and lower than the 6.615 million applications last week,” Chris Rupkey, chief financial economist at MUFG, said in an email.”

Source: https://finance.yahoo.com/news/stock-market-news-live-april-16-2020-221208788.html

United States Initial Jobless Claims

“The number of Americans filling for unemployment benefits was 5.245 million in the week ended April 11th, down from the previous week’s 6.615 million and compared to market expectations of 5.105 million. The latest figure brought the total reported over the past month to 22 million, as the coronavirus pandemic swept across the US. The 4-week moving average, which removes week-to-week volatility, jumped to an all-time high of 5.509 million, while continuing jobless claims hit a record 11.976 million in the week ended April 4th.”

Source: Trading Economics

United States Initial Jobless Claims
United States Initial Jobless Claims


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