To preempt the apparently inevitable "wow stocks went up on this news why wall street be like that" posts : the reason futures are up currently and the market will be up when they open in a but is because this is better than expected. Wall street was expecting unemployment to rise to over 16% [0]. Therefore, the markets were pricing in an expected 16% unemployment rate.
The real number today is lower, meaning the markets are going to adjust up to meet the difference. That's why it might look like the markets are cheered by the unemployment news. They kind of are, it's better than they expected.
The real number today is lower, meaning the markets are going to adjust up to meet the difference. That's why it might look like the markets are cheered by the unemployment news. They kind of are, it's better than they expected.
Edit: Updated the link to a non AMP link.
[0]https://www.wsj.com/articles/april-jobs-report-likely-to-sho...