Stock market news live: Stocks rebound as tech, energy shares gain

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Rejestracja: wt gru 17, 2019 5:02 am

pt mar 20, 2020 5:09 am

The coronavirus pandemic continued to weigh on U.S. stocks on Thursday, which opened lower before clawing into positive territory, as heavily weighted technology shares outperformed.Earlier, stocks had floundered after new data on the U.S. labor market underscored rising joblessness amid the coronavirus outbreak, and after the European Central Bank launched a multibillion-euro debt purchasing program to provide aid to the virus-stricken region.While the gains were a welcomed, if temporary, respite after Wednesday’s steep losses, they did little to replenish the overall declines over the past few weeks. As of yesterday’s close, the Dow had corrected more than 32% from its Feb. 12 high, and whipsaw trading has moved the S&P 500 Index by 4% or more for seven consecutive trading sessions, according to data from BMO Capital Markets — a record. A growing pile of disappointing U.S. economic data has weighed on investors already spooked by the public health crisis the coronavirus outbreak has invoked. The U.S. Department of Labor on Thursday reported a surge of 70,000 new jobless claims for the week ending March 14, reflecting a much greater than expected number of individuals filing for unemployment insurance. The total number of initial jobless claims came in at 281,000 for the week – the highest level since September 2017. Read more >>slotxo
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