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slash setup welcome to the nerd wallet smart money podcast where we answer your

personal finance questions

and help you feel a little smarter about what you do with your money. I'm your host, Sean Piles.

And I'm your other host, Liz Weston. As always, be sure to send us your money questions. Call or

text us on the Nerd Hotline at 901-730-6373. That's 9011 730 Nerd. Or email us at podcast at nerdwollet.com.

In this episode, we're going to talk about steps you should take if you are newly unemployed,

including how to manage your retirement account. But first, in our this week in your money segment,

Liz and I will talk about why the stock

market is on an upswing when we're seeing record unemployment and what that does and doesn't

mean for your personal finances. Yeah, there's a huge disconnect between what's going on in the

stock market and what's going on in real life. So, Sean, can you give us a recap of what's been happening?

Sure. So as everyone probably knows, there are record numbers of Americans out of work due to the

pandemic. But as of early May, the stock market rebounded more than 30% from its low in March,

and it's been up and down since then. The stock market is alternating between optimism

that there will be a quick recovery and despair that we're heading into a deep recession.

The stock market's performance is also a reflection of a handful of companies,

some of which have been doing really, really well, like Microsoft and Apple,

...