Coronavirus: Lyft, PayPal lead local stocks higher despite rising jobless claims

Coronavirus: Lyft, PayPal lead local stocks higher despite rising jobless claims

4 years ago
Anonymous $pSba0tWIcA

https://www.siliconvalley.com/2020/05/07/coronavirus-lyft-paypal-lead-local-stocks-higher-despite-rising-jobless-claims/

Lyft, PayPal and Uber were among the Bay Area companies to see their share prices surge Thursday as investors concentrated more upon steps being taken to re-open the economy than another grim report on unemployment claims that continue to grow during the coronavirus crisis.

Early Thursday, the U.S. Labor Department reported there were almost 3.2 million new first-time claims for unemployment benefits during the week that ended May 2. That brought the number of unemployment claims nationally to more than 33 million since President Trump declared a state of emergency around the country in March due to the spread of coronavirus.