The market fell amid a shocking rise in weekly unemployment claims.
Oil attempted to make a comeback on Thursday, rising 8% to around $22 per barrel. Energy companies were especially hard hit in the first quarter amid an ongoing oil price war, making up seven out of ten of the S&P 500’s worst-performing stocks during that period.The Dow and S&P 500 closed out their worst first-quarter performances in history on Tuesday.
“It is unfortunate how bad these numbers are getting, and no one will be surprised if we see a few more terrible readings over the next few weeks.”“The recent stock market decline and continued volatility has accurately reflected the extreme level of jobless claims we’re seeing in the economy,” says Andrew Smith, chief investment officer for Delos Capital Advisors.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Rolls-Royce targets in jeopardy as pandemic brings air travel slumpBritish aero-engine maker Rolls-Royce will likely have to slash its 2020 cash flow target after airline customers parked hundreds of planes due to the coronavirus pandemic, analysts said.
Read more »
Japan's factory activity shrinks at fastest pace since 2009, new orders slump: PMIJapan's factory activity contracted at the fastest pace in about a decade in March, as the world's third-largest economy struggled with a severe downturn in overseas and domestic demand due to the coronavirus crisis.
Read more »
Exclusive: KKR shelves $2 billion sale of Singapore-based Goodpack due to market slump: sourcesKKR & Co has shelved a plan to sell Singapore-based Goodpack, which provides shipping containers and logistics services, after the coronavirus outbreak hit valuations, sources with knowledge of the matter said on Wednesday.
Read more »
Factories Feel The Coronavirus SlumpU.S. factory production and employment fell sharply in March amid the coronavirus crisis, a new survey finds. New orders hit their lowest level in 11 years.
Read more »
Don’t count on your usual economic numbers and forecasts to guide you through the coronavirus slumpOPINION: Throw your usual economic indicators out the window. No one knows how deep the global recession will be because of the coronavirus -- or when this will end.
Read more »
Stocks making the biggest moves midday: Dollar Tree, RH, Amarin, Conagra, Noble Energy & moreThese are the stocks posting the largest moves in midday trading.
Read more »