( Reuters) – The Dow Jones Industrial Average DJI concluded its greatest three days in nine years on Thursday as record weekly U.S. unemployed claims came in below investors’ worst worries and the focus remained on an unmatched $2 trillion stimulus waiting for approval by the U.S. Legislature.
FILE PICTURE: Traders deal with the flooring of the New York Stock Exchange (NYSE) in New York, U.S., March 20,2020 REUTERS/Lucas Jackson
The Dow was up 21%from its Monday low, establishing it in a bull market, according to a widely used definition. It was the Dow’s strongest three-day portion boost considering that1931
The number of Americans filing claims for unemployment benefits surged to 3.28 million last week as state-wide lockdowns brought the economy to a halt and unleashed a wave of layoffs.
The mean expectation of experts surveyed by Reuters was for 1 million claims, but the leading end of the forecast was as high as 4 million.
Expectations are high that the U.S. House of Representatives will pass the stimulus measure to support distressed markets,