New Week, New Optimism? Major Indices Jump On Possible Virus Slowdown

New Week, New Optimism? Major Indices Jump On Possible Virus Slowdown

New York State, which is the national epicenter of the disease, saw the number of new COVID-19 fatalities decline on Sunday, marking the first time the number of deaths had dropped since the outbreak began.. Stocks had ended the week on a sour note as payrolls and unemployment data came in well below expectations, the COVID-19 death toll continued to climb and the $350 billion small business loan program got off to a very rocky start.. New York's governor said the state had seen the single deadliest day since the outbreak began.. Job losses jumped by more than by 700,000 in March, and the unemployment rate rose to 4.4%, from 3.5% previously.. With the relatively light week in economic data, coronavirus-related headlines may take on even more importance as market drivers in coming days.. Unemployment May Be Much Higher: Because the payrolls report didn't include all of March, it seems likely that the 701,000 figure for lost jobs and the 4.4% for the unemployment rate will both be revised higher.. The monthly jobs report " still isn't adequately capturing the full extent of the weakness in the labor market," Briefing.com said.. DAL Earnings Coming Up: Investors might want to pay