Energy rebound quickly with more than +4% gain that boosts stock markets about +1.5% advance at this moment.
Although there are another 4.4 million people filed for jobless claim, stock markets reaction is still extreme bullish like past three weeks.
Reason is simple. Congress just passed another 485 billions of funding for small business loan and other virus relief fund. So, whenever there is a potential problem on economy or job markets, Fed, white house and US government are there to defend with more US dollars.
This kind of money-printing policy is highly risky because it inflates balance sheet to record high level. Inflation, depreciated dollar and out-of-control asset prices could come,though it does not happen yet.
Thus, this actions are effective to boost stock markets in hoping quick economic recovery first, then dealing with inflation problem later.