Nearly 3 million more jobless claims | Stocks finish with gains | Are stocks still cheap?

The market rallied as oil prices rose and investors turned to bank stocks.

VIEW IN BROWSER | SUBSCRIBE THU, MAY 14, 2020 EVENING BRIEF AS OF THU, MAY 14, 2020 • 04:11 ET DJIA 23625.34 +1.62% +377.37 S&P 500 2852.50 +1.15% +32.50 NASDAQ 8943.72 +0.91% +80.55   Most Active DOW NAME LAST CHG %CHG CSCO 43.85 +1.90 +4.53% AAPL 309.54 +1.89 +0.61% MSFT 180.53 +0.78 +0.43% S&P 500 NAME LAST CHG %CHG GE 5.70 -0.09 -1.55% F 4.89 +0.17 +3.60% DAL 19.38 -0.03 -0.15% NASDAQ NAME LAST CHG %CHG UAL 20.30 -0.41 -1.98% AMD 54.51 +2.33 +4.47% AAL 9.15 +0.04 +0.44% EDITOR'S NOTE The coronavirus pandemic has pushed 36.5 million U.S. workers to file unemployment claims over eight weeks, according to the latest tally, which showed that nearly 3 million people filed just last week.   Especially hard-hit are households with less than $40,000 in annual income, according to the Federal Reserve. With many restaurants, bars and salons still closed across the nation, lower-paying service businesses have been the most affected, writes CNBC's Jeff Cox.   If there was anything positive about Thursday's jobless claims report, it was a slight decline in continuing claims. This is a sign that at least some people are getting back to work,writes CNBC's Patti Domm. Stocks traded in a wide range throughout the day. The Dow Jones Industrial Average was down more than 450 points but ended with gains as oil prices and bank stocks rose.    As the market digested the grim jobless claims report, Nelson Peltz, CEO of Trian Partners, sounded a bright note on CNBC's "Halftime Report."   "This thing is not going to last forever," he said. "There're still loads of value in the market."     Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world. Al Lewis | CNBC Markets Editor @tellittoal TOP NEWS  Bank and oil stocks push market higher Weekly jobless claims total 2.981 million, bringing coronavirus tally to 36.5 million Dismal jobs report offered a sign that some people may be returning to work Nearly 40% of the poorest households hit with a job loss during pandemic, Fed study shows Track the latest coronavirus news here Nelson Peltz says he's bullish on a vaccine, putting new money to work and voting for Trump Delta to retire Boeing 777s as pandemic dims outlook for international travel Despite valuation concerns, stocks haven't been this cheap since the 1950s by one metric Sen. Richard Burr steps down as Senate intel chair during probe of coronavirus stock sale Private jet company founded by Trump donor gets $27 million bailout     TOP VIDEO Former Google CEO on using technology to prevent spread of Covid-19 and the future of work   CNBC PRO Goldman believes oil has bottomed and is headed back to $65 next year   SPECIAL REPORTS Banks are deep in a bear market, and traders see little reason for hope Weight Watchers pops on bullish analyst call, but traders prefer another fitness stock   Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2020 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS