Energy was the biggest loser as all 11 S&P stock sectors were in the red. Thursday’s stock session ended in decline after new unemployment data showed U.S. job losses surged past 30 million since the pandemic hit domestically. Oil prices remain woefully depressed and far below the $50 range that most oil producers need to made a decent profit, despite a rebound in the past week. Small medical advances sprinkled investors with hope the past two weeks as pharmaceutical companies worked on virus vaccines and treatments. The blue-chip Dow index closed out April with a 10 percent advance, while the tech-heavy Nasdaq composite surged 14 percent.

Source: Washington Post May 01, 2020 14:09 UTC