Here’s why stocks are rising on terrible news


Brendan McDermid | Reuters

It might be premature to declare the bear market dead, but Thursday’s action sure checked off some important boxes.

Conventional Wall Street wisdom is that bear markets, or 20% declines from 52-week highs, die on bad news, and Thursday featured some of the worst the U.S. economy has ever seen. 

Nearly 3.3 million Americans filed initial jobless claims for the week ended March 21, marking the worst week ever, by far. The second-worst number came during the 1982 recession, and the report released Thursday more than quadrupled that total.

Yet the market rose, violently so, at one point hitting 20% off the recent lows, which would define a bull market. That came just…


Rishi Sunak unveils package to pay self-employed 80% of income, but the money won’t be available until June

Previous article

WeWork reassures investors it has enough cash to weather coronavirus

Next article

You may also like

Leave a Reply

Notify of

More in Investing