Stocks whipsaw as tech rally offsets gloomy unemployment-claim data
- US stocks traded mixed on Thursday after weekly jobless claims were less dire than expected.
- The S&P 500 and the Nasdaq rose, led higher by technology stocks. The Dow Jones industrial average decline.
- A record 22 million Americans have filed for unemployment benefits over the past four weeks, effectively wiping out all jobs created since the Great Recession.
- More banks and financial institutions reported earnings early Thursday, with mixed results.
- Read more on Business Insider.
US stocks rose slightly on Thursday after weekly jobless claims were less dire than expected. Roughly 5.2 million Americans filed for unemployment benefits in the week ended April 11, the Labor Department said in a report.
While the jobless claims number out Thursday was slightly lower than in the previous report, it still showed that 22 million people had filed for unemployment benefits in just four weeks, effectively wiping …continued .
[Source: Business Insider]