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US equities rise on stimulus, despite massive US unemployment surge

Friday 27th March 2020

US equities rose sharply overnight despite the news that unemployment claims in the US have risen to 3.2 million for the week to March 21st. It seems the markets are responding to the news that the rescue package has passed through Congress. Phil Dobbies talks to NAB’s Gavin Friend about the increasing hope that, with the right stimulus, the impact will be short, albeit very deep. On the stimulus front the UK government will now support self-employed workers, but, as elsewhere, the issue is getting the money out fast enough.

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