1. Initial jobless claims fell by 8K to 205K, below expectations and 2025 average, suggesting that nationwide layoffs remain low .

• Continuing claims edged up to 1.857 million, indicating stable labor market conditions for those receiving ongoing unemployment benefits.

2. The Philadelphia Fed’s manufacturing index edged up, well above the consensus forecast. Notably, the survey was conducted from March 9–16, after the conflict in Iran had begun.

• The details of the report were mixed-to-strong, with shipments and employment rising, …

… but new orders moderated.

• Price pressures ticked up.

3. New home sales fell sharply to the lowest level since 2022. The 17.6% month-over-month drop was the largest decline since July 2013, as affordability pressures, the winter storm, and elevated mortgage rates weighed on demand.

4. The Conference Board’s Leading Economic Index fell for the sixth month, …

… driven by weaker consumer expectations and building permits.

5. Wholesale inventories contracted more than expected in February, posting the largest drop in over a year.