Overview

• U.S. jobless claims rose by 2,000 to 223,000 in the second week of March, slightly below market estimates of 224,000.
• Existing home sales jumped 4.2% in February to an annualized rate of 4.26 million, reflecting strength in the housing market.
• The Federal Reserve increased its inflation outlook while lowering growth expectations, fueling concerns about stagflation.
• The Nasdaq Composite is on track for its fifth straight weekly loss, marking its longest losing streak since 2022, while the Dow is poised for a 1.1% weekly gain.
• Natural gas inventories rose by 9 billion cubic feet last week, significantly surpassing market expectations of 3 billion cubic feet.