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Share: With inauguration in the rear-view mirror, Wall Street returns today to the business at hand: A long list of earnings reports and the latest word on unemployment claims. We’ll get to earnings below. First off, weekly initial jobless claims offered a little good news and some bad. On the negative side, they’re still too high at 900,000, and above many Wall Street estimates. The good news is that last week’s big number got revised downward slightly. This metric just stubbornly refuses to fall, but maybe if more states come out of lockdown we’ll see improvement in coming weeks.

Order Reprints Text size Roadworks continue, now with a facemask, as some essential jobs have kept segments of the population employed as the stay-at-home orders continue in Los Angeles, California on May 4, 2020, as Governor Gavin Newsom earlier announced the gradual reopening of California later this week. FREDERIC J. BROWN/AFP/Getty Images By Stephen Kleege Los Angeles is suffering what may be the hardest Covid-related health and economic hit of any big city. But the city’s $2.6 billion in municipal bonds outstanding, while hardly thriving, appear in decent shape....