US stocks rallied all day Friday in spite of the worst monthly jobs report on record.
The market has brushed off bleak labor market data, including the staggeringly high weekly jobless claims, over the past weeks. Friday was no exception.
The April report from the Bureau of Labor Statistics said the US economy lost 20.5 million jobs, bringing the unemployment rate to 14.7%. It was the worst monthly report in history, in terms of both jobs lost and the unemployment rate.