Financial markets open with gains, despite 14.7% April unemployment report

The Dow on Friday opened with a 300-point gain, despite the worst unemployment numbers since the Great Depression that ended more than 90 years ago. The S&P 500 was up 30 points and the NASDAQ was up roughly 80 points, in early trading.

Analysts think the gains show investors believe the worst of the coronavirus shutdown of the economy is over, despite the reported 14.7% jobless rate for April. 

Roughly 10 more states announced plans this week to partially reopen their economies, as the rate of virus-infection appears to be slowing or at least holding steady. Alaska and Delaware are among the states now easing restriction on retailers and other  businesses previously considered non-essential during the pandemic.  

The jobless report Friday by the Bureau of Labor Statistics also showed the U.S. economy lost 20.5 million jobs in April.

Another sign that Americans are again spending is a reported increase is sales as gas pumps across the country.