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Stocks Rise Slightly Despite Jobs Report

Companies hit hardest by pandemic take biggest hits
By Newser Editors and Wire Services
Posted Apr 16, 2020 3:05 PM CDT

(Newser) – Stock indexes ended a wobbly day with modest gains Thursday, while the biggest increases went to Amazon, Netflix, and other companies poised to do the best during the coronavirus shutdown. The S&P 500 rose 0.6% after flipping between small gains and losses all day, the AP reports. The latest dour report on the job market dampened sentiment after the government reported that 5.2 million workers filed for unemployment benefits last week.

More stocks fell than rose as companies bound to suffer most from the virus-related shutdowns pulled back. That included banks, energy, and industrial companies as well as small-company stocks. On the day, the S&P 500 rose 16.19 points to 2,799.55; the Dow Jones Industrial Average added 33.33 points, or 0.1%, to 23,537.68; and the Nasdaq jumped 139.19, or 1.7%, to 8,532.36. Bond prices rose, sending yields lower. (Read more stock market stories.)

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