STAN CHOE and DAMIAN J. TROISE and ALEX VEIGA
AP Business Writers
NEW YORK (AP) — Stocks are gaining momentum in afternoon trading on Wall Street Thursday in a market marked by less volatility than recent days as global authorities rush to support an economy decimated by the coronavirus pandemic.
The S&P 500 rose 1.8% after bouncing between a gain of 2.5% and a loss of 3.3% early. That would be a notable change in normal times, but the index has had eight straight days where it swung up or down between 4.9% and 12%.
Markets have been so volatile because investors are weighing the increasing likelihood of a recession on one hand against huge, emergency efforts to prop up the economy on the other. Markets got more of each on Thursday.
The number of Americans filing for unemployme
