Unemployment spikes, but markets roar on reopening hopes

Unemployment spikes, but markets roar on reopening hopes

U.S. states on Friday continued to lay out plans for a gradual relaxation of coronavirus lockdowns, as the latest jobs report showed how badly the pandemic has crippled the world’s largest economy. Worldwide, the outbreak has infected more than 3.9 million, and killed more than 272,000. In the U.S., cases are nearing 1.3 million, led […]
Stocks appear to be pricing in an economic ‘bungee cord snap-back’

Stocks appear to be pricing in an economic ‘bungee cord snap-back’

Investors on Friday greeted the grim news that April jobs data printed the highest unemployment rate since the Great Depression in an odd way — by sending stocks on a monster rally. The coronavirus pandemic that’s decimated the U.S. economy — causing the loss of 20.5...
This week in Trumponomics: It’s a depression

This week in Trumponomics: It’s a depression

We knew it would be bad, and the Category 5 jobs report for April didn’t weaken or change course before it made landfall. The economy lost 20.5 million jobs in April, more than twice the loss during the Great Recession from 2007 to 2009. The unemployment rate soared...
‘8 weeks is not going to be enough’

‘8 weeks is not going to be enough’

In the weeks ahead, Congress is set to negotiate another coronavirus response bill with next steps for the Paycheck Protection Program as one of the key elements of any deal. The program, run by the Small Business Administration, was created when the CARES Act was...