Market Update – May 08, 2020

On Thursday, the US weekly jobless claims were released, revealing 3.169 million people filed for unemployment claims last week. That brings the seven-week total to 33.5 million Americans out of a job in a very short period. Yet the S&P 500 closed up for the day at 1.15% and the Dow Jones Industrial Average increased by 211 points or .89%.