Despite Disastrous Jobs Report, Stocks Surged 1.6% Friday

(Friday, May 8, 2020, 6 p.m. EST) The unemployment rate surged to 14.7% in April, the U.S. Bureau of Labor Statistics (BLS) said Friday, but the Standard & Poor's 500 stock index nonetheless soared 1.6% and 3.4% for the week. Read our latest e-newsletter