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Breaking: U.S. Jobless Claims Rose by 6.61M Last Week vs 5.25M Expected

Published 04/09/2020, 08:14 AM
Updated 04/09/2020, 08:34 AM
© Reuters.

By Geoffrey Smith 

Investing.com -- Another 6.61 million American filed initial claims for jobless benefits last week, fresh evidence of the dramatic decline in the economy caused by the Covid-19 pandemic.

The number was more than the 5.25 million expected but slightly less than the previous week's record number, which was revised up to 6.87 million.

Ongoing claims rose to 7.455 million from 3.059 million a week earlier, the Labor Department said.

Latest comments

I can we trust these numbers? Maybe they are fudged? If you think numbers coming out of China we can't trust, then we can't trust these numbers also. We can't have double standards. Either trust this number and trust China's number, or don't. That is it.
No one is laughing at Preppers now are they?
unemployed? sell everything you got, buy call option. in 3 weeks, you are all millionaires and billionaires.
Got to thinking, probably nothing. The Fed is holding shares as collateral.
Probably nothing!!...really???
Right now companies are taking out 90 day repo loans to pump stock prices. What happens when they can't repay them?Example: Chipotle is limited to carry out and delivery, but with these loans they've been able to get back to $775. They will never recoup their losses. All they can do is start making money again. What happens when they default on their loans?
issue more bonds that the Fed will buy
Who cares? stocks up. The death of real markets and market discovery  is here to stay!
So yiu are telling me they forecasted wrong? Sure!
gold and silver jumped. There are still some mentally healthy people in the markets
yes ...some aren't falling for all the fakery
i think markets have a sociological side. that the virus triggered it. i think trump will elected. and will elected strong. cause biden is nobody. has too much baggage. and after virus the market will boom. even without the trillion package. and that's where trump shines. will see
So much for virus 'hopes' hahaha
I want Gold!!!
so the fed is acting on behalf of trump. what if trump fails relection? i just might think he will. incredible fed balance just for trumps reelection. what a pity if he doesnt get elected. virus will eat him up
The cause is NOT the virus....! Stop pushing that narrative
Enlight us then, which is the cause
Yea its not thw virus, its stupid government over reacting which went and just caused pandemonium. That is the cause. Thwy could have just told people to take precaution and we would be doing just fine as if another flu with a little steroids.
Future with this news LOL
Trump can't move the markets by himself. He wish he could, Trump didnt want to shut the economy down during an election year. This is a forced recession. what's different here...the fed is buying everything un precedented is over used but not on the feds case. They are buying corporate bonds, etfs, Treasury's. This isn't just qe this time. They are doing everything but direct buying of equities
The estimates on everything are always suspect.
it's not market value thats going up its the value of money that is deteriorating
oh man,I didnt think about that. Yup gold has been going up too.
Is this a bear for usd
Good news for stocks, rally to all time high! All hail Fed! the "savior" of our "economy" and the world!
The question is whats next after corona? life after this pandemic. There would be a paradigm shift in lifestyle. Things wont be same as before.
We'll either be dressed up like in Fallout, or Mad Max soon
he he. LOL
When housing goes the market goes. I honestly had no idea yhe markets coyld be manipulated to this extent.The tsunami already started and the poor villiagers are still sunbathing at yhe beach.Its a shame
You are exactly right!
The trick here is to figure out when Trump is shorting the market. Remember last July when the Fed lowered rates. It was anticipated that the market would reject it because it was only .25% The market fell off by a couple hundred then turned around headed green. Immediately Trump dropped tariff bomb and the market dumped. It was more than obvious that Trump's actions were illegal. Why no investigation?
lol. investigation. that'll get him.
whether you lose your job or not...stock market will swallow you
Fed thinks it's invincible. Watch that Neel Kashkari interview with 60 min. Never seen such hubris. If they think they can print away problems when production has been obliterated they are sorely mistaken.
Irrational exuberance will cause a death spiral to 18000
1929 revival !
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