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What happened to the stock market Thursday: Dow falls after more weak economic data

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The Dow rose 33.33 points, or 0.14%, to close at 23,567.68. The S&P 500 climbed 0.58% to 2,799.55. The Nasdaq Composite advanced 1.66% to 8,532.36. Wall Street grappled throughout the session with more concerns over the coronavirus outbreak and dismal economic data. 

22 million jobs lost

The Labor Department said 5.245 million Americans filed for unemployment benefits in the week of April 11, bringing the four-week total to 22 million. The Philadelphia Federal Reserve's business conditions index hit its lowest level since July 1980 as activity in the region slumped this month. Meanwhile, New York Gov. Andrew Cuomo announced the state would extend its shutdown of nonessential businesses through May 15.

Netflix and Amazon hit record highs

Netflix climbed 2.91%, reaching a record high after a Goldman analyst hiked his price target on the streaming giant. Amazon also hit an all-time high, rising 4.36%.

What happens next?

Procter & Gamble is scheduled to report earnings on Friday.

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