EDITOR'S NOTE
It was one of the worst pieces of economic news ever delivered: More than 3 million Americans filed for unemployment claims amid the coronavirus pandemic. Yet stocks soared.
The number was far worse than the 665,000 claims filed in the depths of the Great Recession. But everyone knew it was coming. It was just a question of how bad it would be.
CNBC's Jeff Cox writes that when the market rises on bad news, it could be a sign that the market has found a bottom. 
For the market, any information is better than no information, and Thursday's jobless claims number removed some uncertainty.
"This is just the beginning of a tsunami of negative news," said Art Hogan, chief market strategist at National Securities. "Everything on the economic data front is going to start looking horrendous."
Nevertheless, the Dow Jones Industrial Average is up more than 20% over the past three days.
Peter Boockvar, chief investment officer at Bleakley Advisory Group, said we may have seen a bottom, but not the bottom. He believes the bad news ahead is priced into the market, for now. From here, investors must ponder the unknowns about what the world might look like after this crisis has ended.
"Is it a ‘V’ bottom recovery, or is it something that’s going to take a lot more time?" he said on CNBC's "Power Lunch." "Unfortunately, I’m in the latter camp.”
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