Applications for U.S. unemployment benefits fell below 500,000 in early May for the first time since the onset of the pandemic, pointing to an upsurge in hiring as companies race to beef up staff as the economy builds momentum. Initial jobless claims in the states sank 98,000 to 498,000.
Cathie Wood’s ARK Innovation exchange-traded fund is significantly oversold and due for a bounce, but if it doesn’t come the popular fund risks suffering a “waterfall” decline, says one chart watcher.
‘I was doing great on my own with the kids. I managed to get an apartment, pay for health insurance and even continue with my youngest son’s private school.’