Let's go over what's driving the markets.
Stocks rose on Wall Street Thursday as sentiment received a boost from news that U.S. and Chinese negotiators could meet as soon as next week to discuss their trade agreement and U.S. jobless claims trended lower.
The U.S. Labor Department reported Thursday that jobless claims for the week ended May 2 came in at 3.169 million.
Economists surveyed by FactSet had been expecting 3 million jobless claims for a week that began to show some signs of life following almost eight full weeks of near-zero economic activity.
In total, over 33 million Americans have now filed for unemployment. 33 million.
That number, to put it simply, is staggering.
And yet...the markets are brushing it off, with all three indices positive in intraday trading on Thursday.
So, what is going on?
Jim Cramer tackles that very question in the video above.
Cramer will be hosting his live monthly conference call right here on Street Lightning on Thursday, May 14. You can watch here or sign up on Action Alerts PLUS for more from Cramer and his team on the markets and their portfolio.
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