by Avi Gilburt
On Thursday, we saw the worst jobless claims number in history (and by far). Yet, the S&P500 futures rallied over 200 points from their overnight lows. So, are we to believe that the “cause” of that rally was the jobless claims?
I can assure you that if the market dropped 200 points there would be no question in your mind that the drop was certainly caused by the jobless claim’s announcement. In fact, there is not a single one of you reading this that would have even doubted that as a “fact.” If we are going to be honest here, it is likely that all of you probably had the expectation that the market going to be down big when those numbers were announced.