Dow drops 200 points on continuing virus concern, worse-than-expected jobless claims

[brooklynite]

Source: CNBC

Stocks fell for a second day on Thursday following the release of disappointing unemployment data while traders grappled with a rising number of coronavirus cases.

The Dow Jones Industrial Average traded 101 points lower, or 0.4%. The S&P 500 slid 0.2% while the Nasdaq Composite hovered around the flatline.

An additional 1.48 million Americans filed for unemployment benefits last week, the Labor Department said. Economists polled by Dow Jones expected a print of 1.35 million. This marks the second straight week that U.S. jobless claims data were worse than expected.

Futures fell to their morning lows after the data were released. However, they quickly recovered from those levels as continuing claims fell by more than 700,000 last week.


Read more: https://www.cnbc.com/2020/06/24/stock-market-news-futures-coronavirus.html

[empedocles]

1. Roily -boily, volatile, stock markets. Being hit hard, by more than 'the virus'.

[empedocles]

2. Large speculators make big money on these big swings.

[brooklynite]

4. Or losing it...

We never "speculate". We maintain our long-term investment strategy whether the markets are up or down.

[jimfields33]

7. It's back up again

[empedocles]

8. Have a distinct memory of a Wall Street trader type, on the day of a big market crash.

40's or so. Big, fat cigar. "down, up', - I don't care. Just give me big moves, with a lot of volume'.

[turbinetree]

3. And for added fun..................look over at oil...............

https://www.reuters.com/article/us-global-oil/oil-slips-towards-40-on-record-u-s-inventories-covid-fears-idUSKBN23W05W?il=0

[Javaman]

5. had a weird dream the other morning just before I woke up...

that the dow dropped 4,500 points.

[former9thward]

14. The dream will have to wait another day. Finished up 299.

[IronLionZion]

6. The trillions in stimulus for the wealthy aren't trickling down?

I'm so shocked. Maybe they'll try more tax cuts. And cut more regulations.

[Dopers_Greed]

9. The stimulus went into pumping the stock market back up

Don't worry, pretty soon the wealthy will sell, triggering the next crash.

[IronLionZion]

10. Then they'll give more stimulus

rinse and repeat

Within seconds of President Biden's inauguration, watch for GOP to start complaining about the debt and calling for austerity measures

[bdamomma]

11. hmm...

apparently Covid does not care about the Dow, but I bet tRumpie is fuming as always.

[ck4829]

12. Kick

[wishstar]

13. But Dow ended the day up 299 after Fed announced big deregulation decision helping big banks

But if the Fed runs out of additional measures to prop up the markets and stocks fall back considerably then we'll get another stimulus package from Senate quickly to keep propping it up before election.

[Yo_Mama_Been_Loggin]

15. Trump's big beautiful economy