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Wall Street rallies on hopes for slowing economic pain, Dow up 1.6%
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Stocks are climbing on Wall Street Thursday as reports suggested that even though the economy keeps getting pummeled amid the coronavirus pandemic, the pace of damage may be slowing.
The S&P 500 was up 1.7% in early afternoon trading, following similar gains in Europe. Oil prices also rose, but other areas of the market were more hesitant, including bonds and Asian stocks.
The day’s headliner economic report showed another 3.2 million U.S. workers applied for jobless benefits last week, bringing the total over the last seven weeks to 33.5 million.
It’s a shocking number, but it’s also the fifth straight week that it has declined since hitting a peak in late March. Several companies on late Wednesday also cited signs that the worst may be
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COVID-19
United States
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Cases: 46 252 513
Deaths: 750 423
Recovered: 0
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India
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Cases: 34 321 025
Deaths: 459 652
Recovered: 0
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Brazil
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Cases: 21 835 785
Deaths: 608 235
Recovered: 0
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United Kingdom
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Cases: 9 215 683
Deaths: 141 607
Recovered: 0
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Russia
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Cases: 8 494 589
Deaths: 237 619
Recovered: 0
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