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Tech pulls markets back from record highs, and jobless claims rise: Here's how the headlines could affect your money

Jobless claims totaled 853,000 last week, which is worse than what economists predicted.

A man wearing a face mask walks past a sign "Now Hiring" in front of a store amid the coronavirus pandemic on May 14, 2020 in Arlington, Virginia.
Olivier Douliery | AFP | Getty Images

Tech pulls the market back from record highs, and jobless claims rise. Plus, some resume-writing advice if you're currently job hunting. Here's how the headlines could affect your money.

Tech stocks lead the market lower

All three benchmarks hit new intraday highs Wednesday before declining in the afternoon. The Nasdaq fell nearly 2% for its worst day since October 30, and tech stocks also led to smaller losses for the S&P and Dow.

The market opened lower Thursday as traders digested the latest unemployment figures, and was mixed by late morning.

Jobless claims rise

First-time claims for unemployment insurance last week totaled 853,000. This is worse than economists predicted and a sharp increase from the prior week. It is also the highest jobless claim number since September 19. 

How to collect unemployment benefits

Video by David Fang

Two-page resumes may help you land a job

"Two-page resumes are the new norm," Vicki Salemi, career expert at Monster, tells Grow. In fact, a study found that employers prefer two-page resumes to one-page ones. If you are job hunting and currently have a one-page resume, try expanding your experience to include concrete examples of your successes. 

"It's important to get quantifiable when you can. If you manage budgets, what's the amount? You manage teams, how many people?" Salemi says. 

How to write a resume hiring managers will notice

Video by Mariam Abdallah

Words you've heard: Government shutdown 

A government shutdown occurs when Congress fails to pass funding legislation to finance the government, forcing federal agencies to reduce or stop "nonessential" services. Federal employees may be furloughed, and consumers may see effects such as national park closures and longer airport security lines. The longer a shutdown lasts, the more effect it can have on the economy.

The House passed a one-week funding extension Wednesday, to keep the government running through December 18. The Senate could vote on it as soon as Thursday. Without action, a shutdown could commence Saturday. 

Although the daily news can have an impact on your wallet, remember to take a long-term outlook when it comes to decisions on spending, saving, and investing.

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