Stocks Soar In Response To Record Rise In Unemployment

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by Tyler Durden
Friday, May 08, 2020 - 08:54 AM

Nothing says BTFD like the worst jobs data in US history...

Dow futures spiked over 150 points on the terrible data...

Are we seriously f**king rallying because "only" 20.5mm people lost their jobs (less than the 22mm expectation)?


And of course, investors are selling bonds and bullion after this utter shitshow!?

And while "hope" is clearly driving stocks, it is even more rife on Main Street with over 18 million jobless Americans convinced their layoff is temporary and will be back within six months...