Stocks jump even as jobless claims swell to record 3.3 million

U.S. stocks rose Thursday even as data revealed a record 3.3 million Americans. Filed for unemployment benefits last week following a wave of layoffs from the coronavirus pandemic. 

The Dow Jones industrial average climbed 1,000 points, a day after the blue-chip. Average notched back-to-back gains for the first time since February. In anticipation of fiscal stimulus from Congress. The Standard & Poor’s 500 added 4.2%. 

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The data offers investors clues into the duration and severity. Of how the deadly virus is impacting the U.S. economy. Global stock prices have swung wildly as business shutdowns spread around the world. 

Confirmed cases in America closed in on 70,000, with more confirmations expected. As the U.S. ramps up testing. The global death toll was more than 21,000, with total confirmed cases approaching 500,000. According to the Johns Hopkins University data dashboard.

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