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Markets Live Recap: Stocks Rise Despite 3.17 Million More Unemployment Claims

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The U.S. weekly jobless claims number increased another 3.17 million people (versus the 3.05 million expected by economists) today.

That brings the total to 33.5 million Americans unemployed over the last seven weeks.

Stocks shook off the news, however, as the Dow rallied 0.9%.

The Nasdaq rose 1.4% as investors buy into technology stocks that are less likely to be affected by government shutdowns.

Oil was up 10% in the first half of trading, but closed down 3% in a volatile session.

And interestingly enough, gold was up 2% while Bitcoin popped 6%.

Typically, gold is negatively correlated to stocks and goes down when the market goes up.

Here's why our experts – Chris Johnson, D.R. Barton, Jr., and Shah Gilani – think stocks are likely to experience more pain to come.

And why gold (and Bitcoin) might be the big winners over the next couple years...

stocks

Markets Live Recap: Why Stocks Closed Lower for the First Time in 3 Days

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For the first time in three days, the Dow and S&P 500 closed lower as investors weighed the prospects of reopening the economy as job losses grew across the country.

A grim U.S. payrolls report showed private payrolls dropped by 20.2 million in April – the worst job loss in the history of the ADP report.

At the same time 30 U.S. states have already partially reopened their economies or are planning on doing a partial reopening soon.

Here's how our experts – D.R. Barton, Jr., and Shah Gilani – see things playing out in the economy moving forward.

They even provided some of the top stocks to buy and sell today...

Market Correction

The 3 Stocks to Sell Before the Coronavirus Correction Gets Worse

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The stock market is officially in correction territory, but for three stocks the bleeding is going to get much worse.

You don't want these companies anywhere near your portfolio right now.

While the Dow is down 11% from its 2020 high in February, stocks like Carnival Corp. (NYSE: CCL) have lost nearly half their value on the year.

Now, we're not advocating you sell your entire portfolio and sit on cash. That could end up costing you even more money.

But there are some stocks that can poison your portfolio.

And these are the three you don't want to own...

Dow Jones

The Dow Jones Industrial Average Gains 200 Points as Coronavirus Worries Ease

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The Dow Jones Industrial Average soared over 200 points this morning as optimism over the coronavirus prevailed.

Fears of the virus' economic consequences have dwindled.

But there are murmurs that the ongoing outbreak could interfere with commitments by China to honor its deal to purchase U.S. agricultural products.

The latest figures show that cases have surpassed 44,500 and more than 1,110 deaths.

Read more...

Dow Jones

The Dow Jones Today Could Plunge Nearly 500 Points Thanks to the Coronavirus

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The Dow Jones today could fall by more than 400 points as the coronavirus spreads in China.

Local officials report roughly 2,300 cases of Chinese citizens dealing with the virus.

However, a nurse has reportedly told foreign media that the real figure is upwards of 90,000 cases.

Here's which stocks are hit the hardest...

Dow Jones

The Dow Jones Industrial Average Is Clawing Back After the Year's Worst Sell-Off

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The Dow Jones Industrial Average will rebound today as investors recover from the worst daily performance of 2019.

The Dow lost over 700 points after China was slow to stabilize its currency.

Monday’s selloff was largely fueled by speculation that China could weaponize the Yuan in order to bolster its exports and strike back at the U.S. over its latest round of tariffs.

Read more here...