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

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. The post Markets Live Recap: Stocks Rise Despite 3.17 Million More Unemployment Claims appeared first on Money Morning - We Make Investing Profitable . And why gold (and Bitcoin) might be the big winners over the next couple years... 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.