Dow Jones posts modest 33 point gain even as massive unemployment numbers persist

The Dow Jones Industrial Average on Thursday eked out a 33.33 point gain while the S&P 500 and Nasdaq rose 0.6 percent and 1.7 percent respectively.

The Dow has bounced up and down so far this week, posting a more than 300 point decline Monday before rebounding more than 500 points on Tuesday and then falling more than 400 points on Wednesday.

The modest 33 point gain Thursday comes despite the Department of Labor reporting that more than 5.2 million people filed for unemployment during the week ending April 11. 

More than 22 million have filed initial unemployment claims during a four-week period as many businesses suffer amid the coronavirus crisis and some even close down.

There has been some hope that the coronavirus pandemic will relent and the economy will soon start resuming more activity. 

But in the hard-hit state of New York Gov. Andrew Cuomo on Thursday announced the extension of the Empire State's shutdown to May 15.