EDITOR'S NOTE
The alarming rise in Covid-19 cases didn't hamper stocks on Thursday.
CNBC's Tom Franck writes that as cases increase, some investors are watching the median age of those infected. In Florida, it has fallen from age 55 in March to under 35 in June, according to data from Evercore ISI. Younger people are less likely to suffer serious complications requiring hospitalizations. They are betting this makes it less likely states need to shut down again.
Markets also digested the latest jobless claims report. Initial claims came in higher than expected with 1.48 million workers filing for unemployment benefits.  One positive from the report was that continuing claims fell below the 20 million mark, indicating that at least some people are getting back to work as the economy reopens.
The Dow Jones Industrial Average swung between gains and losses on Thursday, at one point falling as much as 236.15 points. But the index ended the session with a gain because of a late-day surge.
Mike Loewengart, managing director of investment strategy at E-Trade, said more bouncy rides are to be expected. "While it's certainly uncomfortable, the everyday investor should be used to ongoing market volatility at this point."
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