Barrons before the report came out. Markets look forward. The consensus was expecting a loss of 22 million.
I get the sense there are people many hoping that this drags on forever.
https://www.barrons.com/articles/the...ATED_5&tesla=yThe Market Moves on—and Up – from Bad News
3.2 million Americans lost their jobs last week and investors were unfazed by the continued carnage. Stocks rose and the Nasdaq Composite Index ended flat for the year so far with a 31% gain in the last six weeks. Why? Well, the bad news has been baked in for a while now.
- The number of weekly initial jobless claims is at historically horrific levels, but it has also been steadily declining since 6.9 million workers lost their jobs in the week ending April 4.
- The Bank of England indicated Thursday that it will provide more economic support, while central banks in Norway and the Czech Republic cut interest rates.
What’s Next: More already priced-in job losses are on the way. The April jobs number will show that 22 million Americans lost their jobs in April, economists expect.
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