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The Market Looks Past 3.28 Million Newly Unemployed and Soars: Is That Crazy?

Initial jobless claims for the week ending March 21, 2020 were a record 3.28 million. That's 11.6 times the week before when 281,000 claims were filed, and 4.72 times the previous record of 695,000 Americans seeking benefits way back in the week ending Oct. 2, 1982. But that didn't stop the Dow Jones Industrial Average from soaring 1,351.62 points, or 6.38%, to 22,552.17 yesterday. Is that crazy? No and yes. When you put this rally in context, it looks one way. But, we cannot forget what's coming for us. When you put this rally in context, it looks one way. But we cannot forget what's coming for us... Tags: economic data To get full access to all Money Morning content, click here About Money Morning: Money Morning gives you access to a team of ten market experts with more than 250 years of combined investing experience – for free . Our experts – who have appeared on FOXBusiness, CNBC, NPR, and BloombergTV – deliver daily investing tips and stock picks, provide analysis with actions to take, and answer your biggest market questions. Our goal is to help our millions of e-newsletter subscribers and Moneymorning.com visitors become smarter, more confident investors. Disclaimer: © 2020 Money Morning and Money Map Press. All Rights Reserved. Protected by copyright of the United States and international treaties. Any reproduction, copying, or redistribution (electronic or otherwise, including the world wide web), of content from this webpage, in whole or in part, is strictly prohibited without the express written permission of Money Morning. 16 W. Madison St. Baltimore, MD, 21201. The post The Market Looks Past 3.28 Million Newly Unemployed and Soars: Is That Crazy? appeared first on Money Morning - We Make Investing Profitable .
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